Cecilia Kuhn focuses her accounting practice on closely-held businesses and their owners, professionals and other individuals with complex financial situations. She has been in public practice in the Washington metropolitan area for most of her career, and started her own firm in Alexandria in 1991.
She puts a strong emphasis on planning, taking a comprehensive approach, not just focusing on income tax consequences. Cecilia prides herself on her long-standing relationships with clients. By getting to know them over time and becoming familiar with their goals and concerns, her advice makes a positive difference in their financial well-being.
She puts a strong emphasis on planning, taking a comprehensive approach, not just focusing on income tax consequences. Cecilia prides herself on her long-standing relationships with clients. By getting to know them over time and becoming familiar with their goals and concerns, her advice makes a positive difference in their financial well-being.
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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. Individuals must pay the third installment of 2021 estimated taxes, if not paying income tax through withholding (Form 1040-ES). Calendar-year corporations need to pay the third installment of 2021 estimated income taxes.
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.
But what should be done with those documents after your check or refund request is in the mail? Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time.
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