Brandon P Schultz
Bookkeeping in Wichita Falls, TX
As of June, 2000, the Treasury Department has issued 20, 000 pages of tax regulations with more than 8 million words. In addition, between all federal, state, and all municipalities, there can be as many as 39, 000 different forms. Our favorite is Form 1118, Schedule J, Separate Limitation Loss Allocation and Other Adjustments Necessary to Determine the Numerators of Limitation Fraction, Year-End Recharacterazation Balance, and Overall Foreign Loss Account Balances. If you are confused, you are not alone. Let us assist you make sense of it all. You'll find our solutions.elegant.
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read moreSchultz & Company, CPA's provides a wide range of services to individuals and businesses in a variety of industries. At Schultz & Company, 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. At Schultz & Company, CPA's, 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.
Schultz & Company
read moreIt depends on factors such as 1) what kind of deal you can make with the dealership, 2) the typical mileage you put on your car, 3) how much you wear down a car, and 4) the primary use for the car. To determine whether leasing or buying is best, compare the costs and other issues involved in a lease or purchase. You first need to decide on the type, size and options of the car you would like (such as manual, automatic windows, airbags). You then need to decide what the car dealer has to pay for the car of your choice - the "invoice cost".
Schultz & Company
read moreThe first thing to do is bargain shop to make sure that the rates you are getting are reasonable in comparison to other companies. Within the policy that you have, these are a few tips that could save you a few bucks. You will need to have liability coverage, property damage, and bodily injury. This way you will be protected if you are at fault and cause damage to a person or their property. It is recommended to have $300,000 per accident to pay medical costs and other costs that may be affiliated.
Schultz & Company
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.
Schultz & Company
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.
Schultz & Company
read moreThe first step is to figure out a realistic financial goal for yourself and your family. Talk with your loved ones to ensure that everyone has the same goals in mind. Clearly not all families will have the same end goal - figure out what is important to you, whether it is early retirement, financial comfort, children's education, travel, taking care of elders, or your children. Someone starting their savings in their early 20s can save 10% of their income and have a sufficient nest egg, while someone starting in their 40s may have to bump that number up more towards 20%.
Schultz & Company
read moreThe process of passing a family business onto the second generation is so difficult that not even a third of them survive. Beyond that, roughly half make it to a third generation. In a normal day in the U.S., 40 percent of businesses are confronted with a change of owners. Those who have founded the companies are struggling to find remedies, but there aren't many options. These are the four key points to a successful business transfer. They basically guarantee a transition for years to come within your family when implemented correctly.
Schultz & Company
read moreSchultz & Company, CPA's is a full-service accounting firm serving clients throughout the Wichita Falls 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 Schultz & Company, CPA's, including our list of services. We have also provided you with online resources to assist in the tax process and financial decision-making. These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites.
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