For years, Coston and McIsaac, CPAs has been providing quality, personalized financial guidance to local individuals and businesses. Our expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and financial planning. Coston and McIsaac, CPAs is one of the leading firms in and throughout the area. 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.
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Coston and McIsaac, CPAs provides a wide range of services to individuals and businesses in a variety of industries. At Coston and McIsaac, CPA's, 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.
Paul, President and co-founder, established the firm with M.J. McIsaac in 1987 following five years of prior public accounting experience. In addition to his management role, Paul is the firm's authority on estate planning and certain income tax technical matters. Paul is also licensed as an investment adviser representative.
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. The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
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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Tim Bland
Jun 22, 2020