We specialize in bookkeeping, payroll, income tax return preparation, and retirement planning, and serve a nationwide clientele consisting of individuals and businesses of all types and sizes (LLC, partnerships, C & S Corporations), as well as trusts and estates. As financial problem solvers, we provide practical advice and proactive solutions with personalized service. We are affordable, experienced, and friendly, and we tirelessly study and research the ever-changing world of tax law and regulation so that we can help every client realize the greatest possible savings and return on investments. Our office is conveniently located in Dover, Delaware. Please contact us today to find out more about how we can make YOUR life less taxing!Tax
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๐๐ผ๐ ๐ฑ๐ผ ๐ ๐ธ๐ป๐ผ๐ ๐ถ๐ณ ๐ฎ๐ป ๐๐ ๐๐ผ๐ผ๐น ๐ถ๐ ๐ฎ๐ฐ๐๐๐ฎ๐น๐น๐ ๐๐ผ๐ฟ๐๐ต ๐๐ต๐ฒ ๐ฐ๐ผ๐๐?
Use the numbers. A lot of business owners look at the monthly subscription price and stop there. But the real cost usually includes setup, training, and the time your team spends adjusting to the new tool.
A simple way to measure the return is:
ROI = (Benefits - Costs) รท Costs ร 100
Example:
If an AI tool costs you $20,000 total, but creates $40,000 in value through labor savings and faster payments, your ROI is 100%.
That means you made your money back and then some.
DM us if you want help looking at the numbers before you invest.
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๐๐ฟ๐ฒ ๐๐ฅ๐ ๐ฐ๐ผ๐ป๐๐ฟ๐ถ๐ฏ๐๐๐ถ๐ผ๐ป๐ ๐ฑ๐ฒ๐ฑ๐๐ฐ๐๐ถ๐ฏ๐น๐ฒ ๐ณ๐ผ๐ฟ ๐บ๐ ๐๐ฟ๐ฎ๐ฑ๐ถ๐๐ถ๐ผ๐ป๐ฎ๐น ๐๐ฅ๐?
Potentially, yes. If your contribution is deductible, the amount you put in reduces your taxable income for the year, dollar for dollar.
But whether you get that deduction depends on a few factors:
โข Whether you or your spouse is covered by a workplace retirement plan
โข Your modified adjusted gross income (MAGI)
โข Your filing status
โข Your marginal tax bracket
โข Your age (those 50+ can contribute more)
(Also, if your IRA contributions drop you into a lower tax bracket, you can see even more tax savings.)
So, make all the contributions you can before April 15. That way, you lock in all the tax savings you can for this year AND secure valuable time for your contributions to grow tax-deferred.
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First State CPAs & Associates |
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18 S. State St, Dover, DE 19901 |
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| (302) 736-6657 | |
| Business Hours | |
| January 1st January 31st | |
| MondayโFriday: | 8amโ5pm |
| Saturday & Sunday: | closed |
| February 1st April 15th | |
| MondayโThursday: | 8amโ6pm |
| Friday: | 8amโ5pm |
| Saturday: | By appointment |
| Sunday: | closed |
| April 16th December 31st | |
| MondayโThursday: | 8amโ5pm |
| Friday, Saturday & Sunday: | closed |