CPA for Career Schools
For All of Your Tax Accounting Audit Needs
About Our Business
Who We Are
Our CPA firm has been providing small business Tax, Accounting and Audit services since 2005. With our experience in the accounting field, no issue is too large or complex for us to manage.
We provide business expertise in the educational sector. Our competency is to assist Vocational Schools' comply wth the State's financial requirements.
News You Need to Know
UPDATE – Mandatory BOI Reporting Requirements Reinstated; March 21, 2025 Due Date
Beneficial Ownership Information (BOI) reporting requirements are once again mandatory and FinCEN extended the filing deadline for reporting companies to March 21, 2025.
Tax Facts 2024
Standard Deduction Changes for 2024
While you can use itemization to take deductions on your tax returns, the standard deductions provided by the IRS are popular for their simplicity. Standard deductions are set amounts by which taxpayers can lower their taxable income based on their filing status. For tax year 2024, the standard deduction for married couples filing jointly rises to $29,200, an increase of $1,500 from 2023.
New tax threshold on capital gains.
Capital gains taxes are levied on the sale of capital assets, such as stocks, bonds, valuable items like jewelry and real estate. For the 2024 tax year, individual tax filers will not have to pay any capital gains tax if their total taxable income is $47,025 or less. That’s an increase from the income threshold of $44,625 in 2023. The capital gains tax rate jumps to 15% if your income is $47,026 to $518,900. If your income is higher than that, you’ll pay 20% in capital gains if you sell your investments.