Income Tax Preparation, Accounting and Payroll service by Don Brooks & Associates - Don Brooks Associates, Inc.

Accounting Services:

Financial Statements

Monthly, quarterly and year-end Balance Sheets and Profit & Loss Statements are prepared accurately and timely for a broad range of small business clients. Financial Statement preparation for small business clients is a long-standing service of this firm. Depending on the client's needs, monthly, quarterly and year-end balance sheets and detailed profit & loss statements can be prepared and analyzed on a timely basis. These statements, along with our helpful, knowledgeable staff, can provide helpful comparisons and calculations for effective, practical business analysis.

Main Menu

Tax Tips Small Business

Starting Your Own Business?

Here are a few quick tips to help you reduce taxes

Open a separate business checking account. Many small business owners don't realize the complications that can arise from using their personal checking account to pay for business expenses. If business expenses are mixed in with personal expenses, the IRS may disallow them.

Small Business Quick Tip

If your business owns a vehicle that is available for an employee's personal and business use, the vehicle is nevertheless considered used 100 percent for business on the business tax return. The personal-use percentage is included on the employee's W-2 as an additional compensation.

Saturday, 19th May 2012

What is an Enrolled Agent and why should I care?

Click Here to find out

Tax Tips Personal

HSA Funding Options

For a limited time only, there are more options

Health Savings Accounts (HSAs) are a great tax vehicle for making the most of your medical expenses. However, it's not always easy to come up with the money to fund an HSA. Well, now there are more options available to HSA owners. At any time before 2012, you can make a one-time only tax-free rollover from an IRA to an HSA. This rollover amount may not be more than your HSA maximum contribution for your type of coverage, whether individual or family.

Personal Quick Tip

Contributions to your IRA must be made by the due date of your tax return. Generally this is April 15. Extending the due date of your tax return does not extend the due date of your IRA contribution.