On this website, you will find information about James S. Snow & Associates, P.C., including our list of services. We have also provided you with online resources to assist in the tax process and financial decision-making. These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites.
James S. Snow & Associates, P.C. is one of the leading firms in and throughout Birmingham, AL. By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they deserve. Our dedication to high standards, hiring of seasoned tax professionals, and work ethic is the reason our client base returns year after year.
James S. Snow & Associates, P.C. is one of the leading firms in and throughout Birmingham, AL. By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they deserve. Our dedication to high standards, hiring of seasoned tax professionals, and work ethic is the reason our client base returns year after year.
Services
James S. Snow & Associates, P.C. provides a wide range of services to individuals and businesses in a variety of industries. At James S. Snow & Associates, P.C., we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
Have you just started a new business? Did you know expenses incurred before a business begins operations are not allowed as current deductions? Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins. However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
Following are some generally recognized financial planning tools that may help you reduce your tax bill. Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
It's possible there could be additional extensions, so check with your tax advisor for the latest information. Trusts and estates need to file an income tax return for the 2020 calendar year (Form 1041) and pay any tax, interest and penalties due, if an automatic five-and-a-half month extension was filed.
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Margie Beth Shaw
Oct 27, 2019
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