Stanley Marks & Company has been advising clients in matters of accounting, finance and business for more than half a century. Our commitment to providing clients with the highest level of service sets us apart from other firms and is key to our successful growth. Stanley Marks & Company started out as a family run accounting firm more than 60 years ago.
Today, we provide value-add management consulting services in addition to tax preparation and planning, accounting, and auditing services. Although there are more than 30 professional accountants and consultants working under Stanley Marks umbrella, we have not lost our sense of family when it comes to servicing our clients. The members of Stanley Marks & Company bring a combination of Big Four and mid-sized accounting firm backgrounds and other unique professional experiences to the Firm.
This breadth of knowledge provides our clients with clear perspectives and valuable insight. Many of our staff members have been with our Firm for over 15 years.
Today, we provide value-add management consulting services in addition to tax preparation and planning, accounting, and auditing services. Although there are more than 30 professional accountants and consultants working under Stanley Marks umbrella, we have not lost our sense of family when it comes to servicing our clients. The members of Stanley Marks & Company bring a combination of Big Four and mid-sized accounting firm backgrounds and other unique professional experiences to the Firm.
This breadth of knowledge provides our clients with clear perspectives and valuable insight. Many of our staff members have been with our Firm for over 15 years.
Services
Services
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Stanley Marks & Company LLP provides a wide range of services to individuals and businesses in a variety of industries.
At Stanley Marks & Company LLP, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
Stanley Marks & Company LLP is a leader in providing accounting services to the medical practice field.
Today, the Firm pro-actively works with many clients on the never-ending changes and business complexities confronting the medical profession.
At Stanley Marks & Company LLP, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
Stanley Marks & Company LLP is a leader in providing accounting services to the medical practice field.
Today, the Firm pro-actively works with many clients on the never-ending changes and business complexities confronting the medical profession.
Business
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Have you just started a new business?
Did you know expenses incurred before a business begins operations are not allowed as current deductions?
Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins.
However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
Did you know expenses incurred before a business begins operations are not allowed as current deductions?
Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins.
However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
Financial
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Following are some generally recognized financial planning tools that may help you reduce your tax bill.
Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.
Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.
Insurance
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The first thing to do is bargain shop to make sure that the rates you are getting are reasonable in comparison to other companies.
Within the policy that you have, these are a few tips that could save you a few bucks.
You will need to have liability coverage, property damage, and bodily injury.
This way you will be protected if you are at fault and cause damage to a person or their property.
It is recommended to have $300,000 per accident to pay medical costs and other costs that may be affiliated.
Within the policy that you have, these are a few tips that could save you a few bucks.
You will need to have liability coverage, property damage, and bodily injury.
This way you will be protected if you are at fault and cause damage to a person or their property.
It is recommended to have $300,000 per accident to pay medical costs and other costs that may be affiliated.
Life Events
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It depends on factors such as 1) what kind of deal you can make with the dealership, 2) the typical mileage you put on your car, 3) how much you wear down a car, and 4) the primary use for the car.
To determine whether leasing or buying is best, compare the costs and other issues involved in a lease or purchase.
Is there a possibility of deduction of any of the costs due to the car being used for business.
It depends on factors such as 1) what kind of deal you can make with the dealership, 2) the typical mileage you put on your car.
To determine whether leasing or buying is best, compare the costs and other issues involved in a lease or purchase.
Is there a possibility of deduction of any of the costs due to the car being used for business.
It depends on factors such as 1) what kind of deal you can make with the dealership, 2) the typical mileage you put on your car.
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