Tax Exempt Gains on Selective Small Business Stock

Federal Law provides for additional incentive to individuals to invest in small businesses. Up to 75 percent of the gains from the sale of certain small business stock is tax exempt. This increased exemption is applicable only in the case of stock acquired between February 17, 2009 and January 1, 2011, and only in small businesses that qualify. For gains on stocks acquired earlier, the exclusion rate remains unchanged at 50 percent in most cases. 

Cirimelli, Pyle and Associates, a firm of Certified Public Accountants is conversant with all aspects of taxation and advises on the eligibility criteria of such businesses whose stock qualifies for exemption. This accounting firm of Campbell, Ca prepares tax returns and guides their clients on tax planning and appropriate tax shelters. For an initial free consultation it can be contacted on 408.879.9990. A listing of its many-faceted financial services may be viewed by clicking on www.cpasllp.com.

Net Operating Loss Carryback

Any small business with a net operating loss in 2008 can choose to carry such losses back for a period of five years instead of the earlier two. This could result in a special tax refund for small businesses that have been making consistent profits in the past but have sustained a net loss in 2008. However the eligibility criterion is small businesses with gross receipts not exceeding $15 million through a three-year period. Form 1139 is required to be filed by eligible individuals and Form 1139 by corporations. 

Cirimelli, Pyle and Associates, LLP, a Campbell, Ca firm of accountants files these claims on behalf of their clients both small businesses and corporations. This firm normally files all mandatory financial statements and returns, leaving their clients free to pursue the running of their businesses. If you run a business in the Bay Area and feel it is not obtaining the services it deserves, then you might like to phone 408.879.9990 for an appointment toward a free consultation. Meanwhile please peruse Cirimelli, Pyle and Associates’ website at www.cpasllp.com for its ambit of professional services.

COBRA Credit

Employers who under ARRA provide 65 percent COBRA premium subsidy to eligible previous employees are entitled to relief by the IRS. Such employers whose cash-flow might be adversely affected can lessen their employment tax deposits to the extent of the credit.

Cirimelli, Pyle and Associates LLP, a Campbell, Ca. firm of accountants has many small businesses in its clientele who have, on its advice, availed of such relief. This has come as a godsend in the current climate of economic downturn where many businesses are weighed down by a heavily burdened cash flow. The Bay Area tax firm prepares cash flow projections for its clients as part of its routine list of financial statements that help a business to run profitably. For a free preliminary consultation, please call 408.879.9990. Meanwhile click on its website www.cpasllp.com to know more of the ways the firm can assist your business.

Cirimelli, Pyle and Associates; Accountants with a difference

Cirimelli, Pyle and Associates are an accounting firm based in Campbell, Ca. that performs all the roles and functions of traditional accounting. This includes budgeting, forecasting, tax planning and preparation of annual financial statements. 

But several aspects make this firm different from the conventional. For one, it relies strongly on modern computerized systems by way of specialized accounting software to maintain a high standard of accuracy and quality, apart from timeliness. Another facet is a strong leadership which is the driving force behind the firm’s success and growth. Cirmelli, Pyle and Associates regard each client as a separate entity and customizes solutions to individual circumstances. This is one accounting firm that has blended technology with the personal touch. 

For an appointment for a free consultation please call 408.879.9990 or visit its website at www.cpasllp.com.

Taxation for the Layman

Taxation is a specialist subject beyond the understanding of a layman. It is frequently couched in language that is ambiguous and best interpreted by a financial professional. But to be fair to the Federal Government, taxation laws are often just – though most would strenuously disagree – providing financial relief if properly analyzed. 

Cirimelli, Pyle and Associates is a firm of CPAs that is fully conversant with the intricacies of taxation and the various tax credits, tax benefits and tax shelters to reduce the taxation burden on an individual or business. The Campbell, Ca. firm services clients in the San Jose area and provides a host of financial services apart from traditional accounting. To know more, click on its website at www.cpasllp.com or call 408.879.9990 for a free initial consultation.

Tax Credits for Energy Property

Section 168(e)(3)(B)(vi)(l) of the Internal Revenue Code provides for tax deductions to energy property on an accelerated MACRS basis. Energy Property is classified as 5 year depreciable property. For depreciation purposes the basis must be reduced by one half of the tax credit. For a corporation in a 35% tax bracket, the MACRS depreciation provides additional tax savings equal to 33.25% of the energy property spending within the first 5 years, which is largely front loaded. 

Cirimelli, Pyle and Associates, a firm of tax consultants is conversant with such tax incentives offered to individuals and businesses for energy-efficient up-gradation of premises and homes. To know more of such incentives and credits please call 408.879.9990 for a free consultation or visit the firm’s website at http://cpasllp.com/ 

This firm of CPAs is located in Campbell, Ca. and serves individuals and businesses throughout the San Jose area.

Budgets and Financial Projections

Budgets and financial projections are the road map of a business. Such financial data set objectives and establish parameters guidelines in day to day operations. Preparation of these financial statements is a complex matter that requires professional expertise. Many businesses fail to appreciate the importance of such boundaries, to their detriment. 

Cirimelli, Pyle and Associates is a firm of Certified Public Accountants that serve businesses in the Peninsula Bay Area. It is located in Campbell, Ca. and services clients from a wide spectrum of businesses. If your business is in the San Jose area and you require of such financial expertise, do call 408.879.9990 for a free introductory consultation. Meanwhile you might like to peruse the firm’s website at www.cpasllp.com to know more of the complete services of this accounting firm.

New Business Advisory Services

Starting a new business entails a number of formalities. Choosing the right structure entitles a new venture to avail of significant tax savings. But these taxation intricacies are generally out of the purview of the average entrepreneur.  This is where the advisory services of a good accounting firm are indispensable. Cirimelli, Pyle and Associates is a firm of Certified Public Accountants based in Campbell, Ca. The firm puts a new venture on the right track, taking the load off the entrepreneur, leaving him to concentrate on running his enterprise. This accounting firm starts with a free consultation to select the right structure from the outset. 

If you are starting a new venture in the San Jose area, you would do well to contact Cirimelli, Pyle and Associates, LLP at 408.879.9990 or study the details of their services to a new venture on their webpage www.sanjose-cpa.com/svcs_inc.htm