FSW&B CPAs- PLLC is a full service accounting firm serving clients throughout Oklahoma and surrounding states. We have four locations in Oklahoma including Stillwater, Woodward, Yukon and Buffalo. We are dedicated to providing our clients with professional services and guidance in a wide range of financial and business needs.
Services
About Us
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FSW&B CPAs- PLLC is a local multi-office firm that is the successor to firms with a long term history of providing a variety of audit, tax and accounting services to a wide variety of clients.
We operate in three primary practice segments: Audit and Assurance, Tax Preparation and Representation, and Business Support services.
Each employee in our firm develops specialties not only within the practice segments but also with particular industries.
Our industry specialties include agricultural, trucking, construction, hospitality, energy and governmental/non-profit.
We operate in three primary practice segments: Audit and Assurance, Tax Preparation and Representation, and Business Support services.
Each employee in our firm develops specialties not only within the practice segments but also with particular industries.
Our industry specialties include agricultural, trucking, construction, hospitality, energy and governmental/non-profit.
Services
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FSW&B CPAs- PLLC provides a wide range of services to individuals and businesses in a variety of industries.
At FSW&B CPAs- PLLC, 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.
At FSW&B CPAs- PLLC, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals.
At FSW&B CPAs- PLLC, 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.
At FSW&B CPAs- PLLC, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals.
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.
Due Dates
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It's possible there could be additional extensions, so check with your tax advisor for the latest information.
Individuals must pay the third installment of 2021 estimated taxes, if not paying income tax through withholding (Form 1040-ES).
Calendar-year corporations need to pay the third installment of 2021 estimated income taxes.
Calendar-year S corporations must file a 2020 income tax return (Form 1120S) and pay any tax, interest and penalties due, if an automatic six-month extension was filed.
Individuals must pay the third installment of 2021 estimated taxes, if not paying income tax through withholding (Form 1040-ES).
Calendar-year corporations need to pay the third installment of 2021 estimated income taxes.
Calendar-year S corporations must file a 2020 income tax return (Form 1120S) and pay any tax, interest and penalties due, if an automatic six-month extension was filed.
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