Are you carrying some big capital gains in your investment account? Thinking about selling your house at a gain soon?

You might want to consider the effect of the 3.8% Medicare Surtax included in the Patient Protection and Affordable Care Act before the tax kicks in next year.

The 3.8% tax applies to investment income for single taxpayers with modified adjusted gross income exceeding $200,000, or $250,000 for married taxpayers.

Net investment income includes income from any of the following:

• Interest, dividends, royalties, annuities, rents
• Net capital gains derived from the disposition of property
• Income from passive activities
• Trading financial instruments and commodities

Timing of harvesting capital gains could be critical in tax savings strategies this year.  If you think this tax might apply to you then you should initiate a discussion with your tax adviser prior to year-end.

Did you have to extend your return this year?

Or maybe you are still working on last years tax return?

We can help you get these looming issues behind you, we provide tax service all year long.

In addition to traditional tax services we also specialize in:

• Back years tax returns
• Extended returns
• Out-of-state returns
• IRS audit and collection problems
• Tax planning
• Small business tax saving strategies

Are your taxes getting more complicated?

Did you buy or sell a house?  Move to a new state?  Did you start a new business or sell an old business?

These exciting life events are likely to make your taxes significantly more complicated than in past years.

Our firm specializes in providing solutions to complicated tax situations whatever the cause.

Call today for a no obligation personal consultation with recommendations for tax saving strategies.

A small business owner should never feel all alone!   Are you making the most of your relationship with your CPA?   We don’t want to just be your tax adviser, we want to be your trusted business adviser!  As your CPA we are perfectly situated to help you make to help you make business decisions by helping you interpret your financial statements, custom reports and operational analysis.  Your time is best spent building your business, not worrying about the accounting.  Don’t underestimate the value that we can bring to your bottom line as your most trusted business adviser.

Congress recently enacted the VOW to Hire Heroes Act which enhanced the Work Opportunity tax credit for employers that hire military veterans after November 21, 2011 through the end of 2012.  The maximum credit is $9,600 for each qualified veteran.

For-profit organizations can claim the tax credit as a general business credit on Form 3800 against their income tax.

Click here and get more  information from the IRS website.

We are dedicated to meeting the accounting, bookkeeping and tax planning needs of small business and individuals throughout the Tulsa, Bixby, Broken Arrow, Jenks and surrounding Oklahoma areas. We understand the issues non-profits, individuals and small business owners face and take the time to work with each client to find personalized solutions to your tax and accounting issues.