If you own and operate a business, have real estate investments, or need financial statements as part of a financing package a CPA can be very helpful. In fact it is likely that this help can save you money and help you avoid costly mistakes. There are many, ever-changing tax laws/rules/reporting requirements.

There might be opportunities for business development, expansion, the sale of part or all of your business, purchase of another business, taking on partners, changing the business structure. These typically require and benefit from evaluation and assessment of alternative courses of action.

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Services

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JFL services are provided mainly to business owners, investors, not for profits. Taking care of financial and tax requirements while at the same time providing benefit to owners and managers is the two-pronged goal for just about everything we do. We strive for big service but also in an understated way, using efficient organizers and programs that assist the process.

Businesses

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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.

Financial

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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.

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