For years, our firm has been providing quality, personalized financial guidance to local individuals and businesses. Our expertise ranges from simple record keeping and tax preparation for individuals, to fully computerized accounting and financial statement services and complex tax return preparation for businesses and other entities.
Our mission is to treat our clients as we would like to be treated - with respect, competence and integrity. Our clients are our friends and neighbors and we want to continue to earn their business by handling their accounting needs through all stages of their lives in a responsible and professional manner.
Our mission is to treat our clients as we would like to be treated - with respect, competence and integrity. Our clients are our friends and neighbors and we want to continue to earn their business by handling their accounting needs through all stages of their lives in a responsible and professional manner.
Services
Elaine L. Fransen, CPA is a full-service accounting firm serving clients throughout the area, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs. On this website, you will find information about Elaine L. Fransen, CPA, including our list of services.
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.
These calculators have been provided as a resource for you to help plan your financial matters. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
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