Services » Tax

Tax

Income taxes can be a complex area because of ever changing rules both at the federal and state level.  There are many opportunities to  over or under report your taxable income that may cost you or your company thousands of dollars.  Kiesling Associates LLP is a CPA firm with expertise in a variety of tax matters ready to deliver top quality service to meet these challenges.

Business Tax

Our services include preparation of federal and state income tax returns along with developing tax depreciation schedules and tax payment calculations.  Our goal is to reduce your tax liabilities using interpretations of the tax law based on substantial authority from authoritative sources.  Learn more about our business tax services.

Personal Tax

Preparing your own tax return can be a complicated and confusing process. At Kiesling Associates, LLP, you'll find trained tax preparers who understand your situation. We can answer all of your tax questions with friendly, professional service.  Learn more about our personal tax services.

News & Announcements

Automobile Depreciation Deduction Limits

The IRS has updated its limitations on depreciation deductions for owners of passenger automobiles first placed in service during 2010 and the amounts to be inlcuded in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2010.

For passenger autos the depreciation limit is $3,060 for the first tax year, $4,900 for the second tax year, $2,950 for the third tax year, and $1,775 for each successive tax year.  Trucks and vans are $3,160 for the first tax year, $5,100 for the second, $3,050 for the third, and $1,875 for each successsive tax year.

Lease tables and further details on deductions can be found at IRS Rev. Proc. 2010-18.

 

Valuing employer-provided vehicles in 2010

(1) The maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2010 for which the vehicle cents-per-mile valuation rule provided under section 1.61-21(e) of the Income Tax Regulations may be applicable is $15,300 for a passenger automobile and $16,000 for a truck or van; (2) the maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2010 for which the fleet-average valuation rule provided under section 1.61-21(d) of the regulations may be applicable is $20,300 for a passenger automobile and $21,000 for a truck or van.

Important Dates & Events

Corporate Tax Payments.
December 31 fiscal year corporate filers are required to file or extend their return by March 15, 2010.  EFTPS payments should be initiated by March 12th.
Personal Tax Payments
1st quarter estimated tax payments are due April 15, 2010.