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DESI TALK June 11, 2021 27 ACCOUNTANTS/CPA TEJAS S. KAPADIA, ESQ. Waldwick, NJ 07463 201-632-1529 tejas@kapadialaw.com Real Estate, Business, Wills (Estate Planning), Immigration & General Law, Practicing in New York & New Jersey. Enrolled Agent with IRS. 07/31-07/23/21-sd SINGH & SHAH Accounting and Tax Preperation for individual & Businesses. 270-01 Hillside Avenue, New Hyde Park, NY 11040 www.singhandshah.com (718) 343 4343 06/26/20 - 06/25/21 HEMISH S. KAPADIA, CPA, EA, MBA, MS SUSHIL T. KAPADIA, CPA, EA, ACA Enrolled Agent with IRS, Certified Public Accountant, Chartered Accountant, Former Tax Auditor & Assistant to Income Tax Commissioner - NYC. 38+ years in practice. 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Dr. Brad Walfield Med School Graduate Certified Teacher Tutor Since 1998 I’ve Helped Improve The Official SAT & ACT Prep Guides! 1.888.343.9776 www.myPEAKscore.com VIDEO PHOTOGRAPHY 07/10-08/27/21-sd PROFESSIONAL Photography & Video for All occasions Vandan Patel (Paliyadwala) Cherry Hill, NJ 08003 Call (856) 264-6005 (C) (856) 428-6783 (H) www.dipvandan.com Email: dipvandan@yahoo.com To advertise Call: 212-675-7515 Parikh Consulting & Advisors LLC Accounting & Tax Consultants Bookkeeping Services Payroll & Sales Tax Services Individual & Business Tax Returns Federal & State Representation New Business Set Up Nirav Parikh, Enrolled Agent, NTPI Fellow 1 Meadowlands Plaza, Suite 249, East Rutherford, NJ 07073 Tel: (201) 340-2740 Cell: (201) 893-8732 Fax: (201) 817-1374 Email: nirav@parikhllc.com Website: www.parikhllc.com 11/20-05/21-SH ACCOUNTANTS/CPA We Specialize In: ● Accounting & Bookkeeping ● Sales Tax & Payroll tax ● Business startup services ● Income Tax Preparation for Individual & Business ● IRS problems & Representations ● Payroll Services ● Developing & Implementing Business models ● Non-profit Taxes & 501C(3) approvals ● Financial Statement preparation & Attestation To get 20% OFF Ajay Kumar, CPA, MBA EAST BRUNSWICK OFFICE 1 Auer Court, 2nd Floor, East Brunswick, NJ 08816 Phone: 908-888-8901 Fax: 908-888-8909 For new customers only MONROE TWP OFFICE 5 Villa Farm Circle Monroe Twp, NJ 08831 Phone: 908-380-6876 Fax: 908-368-8638 www.saicpaservices.com | akumar@saicpaservices.com MUSIC Calderone School of Music ESTABLISHED 1975 NJ Registered Professional Provider Private Lessons on All Instruments and Virtual Lessons. East Hanover (973) 428-0405 Springfield (973) 467-4688 www.calderoneschoolofmusic.com 041321—04152022(SL) BUSINESS/SERVICES DIRECTORY 5 Tips to Save on Your Small Business Taxes I f you’ve purchased a business this year or are new to small business tax structures, there are a few things to keep in mind. While it is possible to do your taxes on your own, consider working with a CPA. A tax professional can ensure your business is taking advantage of all the deductions available and, more importantly, can ensure you’re paying every- thing you owe. Here are five other tips: • Think about taxes all year long. Small business owners should not treat income taxes as an annual event. Rather, tax planning should be a year-round activity. Waiting until the last minute makes tax preparation more complicated, and it limits your money-saving options. • Be aware of law changes. Even with the help of a skilled profes- sional, a small business owner must keep up with new changes. This will ensure your tax professional is doing the best possible job, and it keeps you informed as a business owner. • Don’t make assumptions. Never make business decisions assum- ing that particular tax breaks will pass or that certain policies will be enacted. • Choose the right state to incorpo- rate in. You don’t need to incorpo- rate your business in the same state that you run your business. If you are just starting out, here are some of the best states to consider incorporating your busi- ness in. • You don’t actually want a tax refund. It is possible to get a tax refund as a small business, but in most cases, it isn’t to your benefit. Typi- cally, a refund means you overestimated the amount of taxes you paid, which could have been reinvested back into your business. Choosing your type of business entity One of the first decisions that you need make is to choose the type of business entity that you wish to operate as. Your choice plays a factor in your personal liability for the business’ activities and how taxes are imposed on the business and yourself as the owner. The most common forms of business are: • Sole Proprietorships – Subject to income tax at the individual level, By Ajay Kumar, CPA, MBA To be continued Page... Ajay Kumar,CPA,MBA

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