Accounting & Taxes for Personal & Business
Sound Tax Strategy Means Financial Peace of Mind
Strategy for accounting & taxes is critical. Is your accountant a valued partner you can trust to guide you with key tax decisions? All CPA’s, process returns but great CPA’s can enlighten you on various tax options and the advantages and disadvantages associated with your decisions. Michael Capo, CPA, P.C and his team have extensive experience with both personal and business accounting and taxes.
On the personal side there are many decisions we can make that will provide tax benefit. Are you utilizing all of the deductions available to you? Are you tracking personal expenses with a program such as QuickBooks? In addition to providing valuable budgeting information, these programs can make tax preparation far more simplistic enabling you to quickly pull a report to calculate deductible expenses such as home office, daycare, charitable contributions and so much more. Do you need help learning to utilize these sorts of tools? The Michael Capo team has extensive experience and can provide training assistance.
Do you own a business? Is your business incorporated? Are you aware of the tax ramifications of an S Corp versus and LLC? Do you need assistance managing payroll taxes or preparing estimates for your quarterly return? Michael Capo and team have extensive experience working with businesses and helping to ensure that they are using the most productive processes to manage invoicing and payroll, 401K decisions etc. It is critical to have sound tax processes in place from the start in order for your business to scale efficiently.
Whether your tax needs are personal, business or both we highly recommend you consider the Best of Newburyport tax Experts at Michael Capo, CPA, PC.
Michael Capo, CPA, P.C.
Avoid Tax Scams With Awareness Of IRS Process
Protect yourself, your family, and close friends against common tax scams. Take the time to understand key facts that can help you know if you are being legitimately contacted by the IRS, or if you are being approached as part of a common tax scam. Please read the links below and if you have any questions, feel to free to call the office of Michael Capo to discuss at 978-499-4300.
The IRS will not call you as initial contact for a tax matter. You will always receive a letter from the IRS if you have a tax issue. This is a confirmed tax scam. Do not give them banking or credit card information over the phone.
https://www.irs.gov/uac/newsroom/irs-repeats-warning-about-phone-scams
CP2000 email / Affordable Care Act
The IRS will not email you any tax related notices. The CP2000 notice can be a valid IRS document however it will come via USPS not email. If you believe that you have an issue with the Affordable Care Act, call the IRS directly at 800-829-1040.
http://www.accountingtoday.com/news/tax-practice/irs-warns-about-fake-tax-notice-scam-79334-1.html
We proactively share information with clients regarding many important tax related topics. Highlighting tax scams is just one example. We strive to provide awareness of tax related issues as well as impacts/ramifications of key tax related decisions. We work to ensure that our customers are armed with information necessary to make informed decisions related to their specific circumstances.
We pride ourselves on providing top notch accounting services for both individuals and businesses and we offer a broad scope of services. We assist many clients with a basic personal returns, and for other clients we are managing important tax related elements of their business such as invoicing, payroll taxes, preparation of 1099’s as well as training on accounting tools such as QuickBooks. Call to schedule an appointment as we welcome the opportunity to assist you with your tax and accounting needs.
S Corporation Advantages and Disadvantages
What are S Corporation advantages and disadvantages? Frequently, this question arises whenever a client is just starting a business, or has been operating as a sole proprietor and may be wondering about the tax advantages of incorporating as an S Corporation. Also, many clients assume it will be too costly or time-consuming to incorporate—but neither is […]
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Michael Capo CPA, P.C.
21 Storey Avenue
Newburyport, MA 01950
978.499.4300
mcapo@capocpa.com
