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MISSION STATEMENT

 DUCA & ASSOCIATES, P.A. caters to the needs of individuals and small business owners. Our goal is to helps our clients maximize earning potential by implementing sound management, accounting and tax practices. We assist our clients with creating accounting and business plans that meet their individual needs and will result in the achievement of career and financial goals along with providing a sound exit strategy. 


LIST OF SERVICES

BUSINESS FINANCIAL & TAX PLANNING

   Business Accounting & Tax Planning                                   Corporate & LLC Tax Returns

   Retirement Plan Administration & Tax Returns                   Partnership Returns

   Business Budgeting                                                               Sole Proprietor - Schedule C

   Payroll Tax Return Preparation                                             Preparation of W-2's and 1099's

   Payroll & Accounts Payable Check Writing                         QuickBooks Training & Software

PERSONAL FINANCIAL & TAX PLANNING

   Personal Tax Planning                                                            Personal Income Tax Returns

   Financial Goal Planning                                                          Personal & Family Budgets

   Education Funding                                                                  Retirement Planning

   Disability Insurance Analysis                                                 Life Insurance Analysis

    BUSINESS ENTITY STRUCTURES & PLANNING

  Buy-In & But-Out Arrangements                                             Business Valuations

  Owner / Shareholder Compensation Programs                     Business Plans

  Mergers & Acquisitions                                                            New Entity Organization 

BUSINESS MANAGEMENT

  Personnel Recruitment & Training                                          On-site or Virtual Management

  Performance Evaluations                                                         Efficiency Floor Planning

  Risk Management Review                                                        Lease vs. Purchase Analysis

EMPLOYEE COMPENSATION & BENEFITS

  Flexible Benefit Plans                                                              Compensation Reviews

  Personnel Policy & Procedure Manuals                                 Retirement Plan Design

  Benefit Cost Control                                                                 Benefit Structuring 

TAX FACTS

1.  IRS Form 1099-Misc requires businesses who pay $600 or more to an INDIVIDUAL to issue a Form 1099-Misc to that individual. 

2.  BUSINESS OWNER COMPLIANCE CHECKLIST:

  1.         a. Do you have Forms W-4 and I-9 included as part of the personnel file?F
  2.         b. Is your Employee Handbook up to date?
    1.         c. Are your Compliance Posters properly displayed in your business?
  3.         d. Do you have a Sexual Harassment Policy for your business?
  4.         e. Do you have an OSHA Control Plan for your business and do you do your annual                                employee reviews?
  5.  

3.  The Tax Cut & Jobs Act  was passed. This act has made permanent the annual  maximum Section 179 Depreciation deduction of up to $1M.

4.  The Annual Gift Exclusion to any one individual for 2019 will remain at $15,000.

5.  Beginning on January 1, 2019, the standard mileage rates for the use of a car (also vans, pickup truck or panel trucks) will be:

  1.         a. 58 cents per mile for business miles driven;
  2.         b. 20 cents per mile driven for medical or moving purposes; and
  3.         c. 14 cents per mile driven in service of charitable organizations.
  4.  

6. The PATH Act has made permanent the $250 Teachers Educator Deduction. 

7.  The Maximum 401(k) Elective Deferral Limit for 2019 is $19,000 and $25,000 for taxpayers age 50 or older.

8.  Maximum Traditional IRA and Roth Contributions for 2019 is $6,000 and $7,000 for taxpayers 50 or older.

9.  2019 Taxable Social Security Wage base has increased to $132,900.

10. For Tax Year 2019,  your Medical Expenses must exceed 10% of your Adjust Gross Income (AGI).  Tax Years 2017 and 2018 this limitation was reduced to 7.5%.