Diamond Sam I Jr

read moreFor years, Diamond, Carmichael & Gary, P.A. 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. Diamond, Carmichael & Gary, P.A. 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.

read moreDiamond, Carmichael & Gary, P.A. provides a wide range of services to individuals and businesses in a variety of industries. At Diamond, Carmichael & Gary, P.A., 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. At Diamond, Carmichael & Gary, P.A., we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals.

read moreHave 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.

read moreWhen it comes to retirement planning, many people tend to focus on two things: opening a retirement savings account and then eventually drawing funds from it. However, there are other important aspects to truly doing everything you can to grow your nest egg. One of them is celebrating your 50th birthday. This is because those age 50 or older on December 31 of any given year can start making "catch-up" contributions to their employer-sponsored retirement plans that year (assuming the plan allows them).

read moreFollowing 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. Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.

read moreThe tax code provides a variety of tax incentives for families who are paying higher education costs or are repaying student loans. You may be able to claim an American Opportunity Credit (formerly called the Hope Credit) or Lifetime Learning Credit for the qualified tuition and related expenses of the students in your family (i.e. You may be able to deduct interest you pay on a qualified student loan. The deduction is claimed as an adjustment to income so you do not have to itemize your deductions on Schedule A Form 1040.

read moreInformation 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. There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.

read moreDiamond, Carmichael & Gary, P.A. 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. Our dedication to hard work has earned the respect of the business and financial community in and around the area. We believe this to be a direct derivative of our talent and responsiveness to our client base. Whether you are a current or prospective client, rest assured that individuals and businesses who choose Diamond, Carmichael & Gary, P.A. receive competent and timely advice.