Levine, Jacobs & Company Manager Leads Interactive Discussion
Accounting firm leads interactive discussion about retirement community and tax returns.
- (1888PressRelease) February 27, 2016 - North Essex Chamber of Commerce Women to Women Ask Accounting Professional Myriad Of Questions.
Livingston, NJ - Kim E. Forrester, CPA/CGMA, manager, Levine, Jacobs & Company, LLC., led an interactive group discussion with North Essex Chamber of Commerce members at Crane's Mill, a continuing care active adult and retirement community in West Caldwell, NJ.
"This was a very dynamic group," stated Ms Forrester, "We discussed all types of business tax returns, business expenses and record retention." The type of business tax return that is required to be filed is dependent upon the initial registration with the Internal Revenue Service. The members that were present primarily file their business income and expenses on Schedule C, which is part of their 1040 return. Other business returns include Form 1120 Corporation filings for both C and S Corporations and the Form 1065 Return for Partnerships and Limited Liability Companies. Deductible business expense deductions are regulated by Internal Revenue Code Section 162(a). Business expenses need to be ordinary and necessary expenses in carrying on a for-profit trade or business. Kim recommends staying on top of the bookkeeping and estimated tax payments throughout the year so the tax preparation can be completed efficiently. They also discussed the need to retain records that support payroll and tax returns for a minimum of seven years. There are some instances where the information (audited financial statements) needs to be kept permanently.
To speak with Kim Forrester, please contact Amy Delman, Amy Delman Public Relations, LLC, 201.563.4614 or amydelmanpr ( @ ) verizon dot net
Kim E. Forrester, CPA/CGMA, has over twenty-five years of experience and specializes in audit, business accounting and taxes (corporations, partnerships and sole proprietorships) including doctors, dentists, funeral homes, wholesale distributors and diners. She focuses her practice by working directly with clients on the efficient organization of their accounting records in order to analyze their company's strengths and weaknesses as well as to prepare their business filings. Kim is also a highly regarded member of the firm's Quality Control team.
She is a member of the American Institute of Certified Public Accountants (AICPA) and the New Jersey Society of Certified Public Accountants (NJSCPA). Additionally, she is a Member of the Pearl Chapter, Eastern Star organization.
Levine, Jacobs provides a unique combination of twenty-first century accounting, business consulting and financial planning services to a diverse list of individuals located primarily in New Jersey, New York and Pennsylvania. The firm prides itself on its teamwork abilities where "every account receives the talent and expertise of the whole firm."
Levine, Jacobs & Company, L.L.C. maintains memberships in the American Institute of Certified Public Accountants and the New Jersey Society of Certified Public Accountants.
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