Business Formation

  • Corporations
  • Limited Liability Companies
  • Partnerships
  • Sole Proprietorships

We have extensive knowledge with business formation and can help guide you through the process of deciding on the type of entity for both federal and state tax issues.  Once the entity of choice has been legally formed, we can help with set up and training of bookkeeping software and payroll services.

Stock Options

We provide consultations and tax calculations for dealing with the exercise of options or receiving stock from employer plans.  We can help you navigate the tax implications of incentive stock options, non qualified stock options, restricted stock and other employer stock plans.  

 

Real Estate Investments

We have many years of experience in consulting on the tax implications of real estate rental investments.  If you are considering an investment or need help preparing your taxes or questions concerning sales or exchanges, please contact us.

 

Retirement Planning

We can help you navigate the various options available for retirement plans and tax implications for each plan.  Below is a simple outline for some of the more popular retirement options.  Please call if you have specific questions or need a deeper understanding of each type of plan.  If you want to do some research on your own, please see the link under retirement plans.

Traditional IRA – Tax deductible contributions, with limitations, for individuals and spouses with earned income.  Taxes are paid at regular tax rates upon withdrawal of funds.  Penalties apply if withdrawals are taken before age 59 1/2, however, exceptions to the penalties are available.

Roth IRA – Non deductible contribution for individuals and spouses with earned income.  No taxes are paid at the time of withdrawal on earnings unless taken before age 59 1/2.  

SEP (Simplified Employee Pension) – Retirement plan available for businesses who wish to contribute for employees and owners.  Plans are available to owners without employees.  These plans allow for higher contribution amounts than IRAs but are limited to 25% of net business income for owners or salary for employees.  These plans are simple to set up with a bank or brokerage firm but require employers to contribute on behalf of employees based on a percentage elected by the business.

Simple IRA – Retirement plan for employers with fewer than 100 employees who want a simple and easy to set up retirement plan.  This plan allows for elective deferrals of employee’s earnings but requires a profit sharing element and has a lower contribution limit than 401Ks.  

401K – Retirement plan that allows elective deferrals for employees and owners and can also incorporate a profit sharing element.  A more complicated plan to set up and requires a retirement plan specialist for both implementation and continuing compliance.  The plan can also be set up for an individual business owner without employees.