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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. The penalty for not filing a Form 1099-Misc has been significantly increased to $195 for each 1099 not filed. The 1099 rules require you to submit a 1099-Misc form for ALL payments made to attorneys.

2.) BUSINESS OWNER COMPLIANCE CHECKLIST:

  1. Do you have Forms W-4 and I-9 (NEW FORM 1/1/17) included as part of the personnel file?
  2. Is your Employee Handbook up to date?
  3. Are your Compliance Posters properly displayed in your business?
  4. Do you have a Sexual Harassment Policy for your business?
  5. Do you have an OSHA Control Plan for your business and do you do your annual employee reviews?

3.) In December 2015, the PATH Act of 2015 was passed. This act has made permanent the annual  maximum Section 179 Depreciation Deduction of up to $500,000.

4.) The Annual Gift Exclusion to any one individual for 2017 will remain at $14,000.

5.) Beginning on January 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  1. 53.5 cents per mile for business miles driven;
  2. 17 cents per mile driven for medical or moving purposes; and
  3. 14 cents per mile driven in service of charitable organizations.

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

7.)  401(k) Elective Deferral Limit for 2016 and 2017 is $18,000 and $24,000 for taxpayers age 50 or older.

8.)  Maximum Traditional IRA and Roth Contributions for 2016 and 2017 is $5,500 and $6,500 for       taxpayers 50 or older.

9.) 2017 Taxable Social Security Wage base has increased to $127,200.