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Essential tax planning for cash basis companies

Oct 27, 2015

Recently we met with two established, successful companies in Metrowest Boston. During our discussions with each company’s owner it became obvious that they were not receiving proper tax planning advice from their current CPA firms. When we reviewed their prior year tax returns, we realized they were not pre-paying expenses despite being cash basis, not taking advantage of the […]

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Dental practice saves $100,000 by moving into purchased building early

Feb 9, 2015

Paresky Flitt & Company, LLP in Wayland, MA recently helped a dental practice in Rhode Island obtain a substantial tax deduction in 2014 for a building that they didn’t actually buy until 2015.  The client acquired $250,000 of brand new equipment but was ineligible for the deduction until they occupied the building and used it for […]

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LLC converts to S Corp to avoid $160,000 Medicare tax

Jan 9, 2015

Paresky Flitt & Company, LLP in Wayland, MA has worked with a very profitable single member LLC located in Chicago for many years.  Due to recent tax law changes, brought about by the Affordable Care ACT (ACA) they were now subject an additional tax of 3.8% on all of their self-employment income.  Due to the income […]

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Framingham company gets help with IRS audit

Nov 14, 2014

Recently Paresky Flitt & Company helped a Framingham business who had received a notice from the IRS that they were being audited. We advised the company’s owners to allow us to represent them in the audit. We obtained a Power of Attorney, and contacted the IRS directly on the client’s behalf. The IRS agent conducted […]

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“If you have a business and you want to take it to the next level and you want a higher-level accounting firm, go with PFC. If you’re picky about who you do...
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Bob Maffei
Maffei Landscape Contractors