We can send management fee invoices to your owners of condominiums and rental invoices to your tenants, and manage your payments and accounts. (You really don’t want anyone else to deal with your high end owners other than us.) We can also pay your bills for your condominium and rental properties. This also comes with full financial statements and tax returns. Call Blaine at (978) 604-4253 to find out how inexpensive this service can be.

We provide services to small healthcare practitioners and have wide experience in financial management  in the healthcare  industry in the areas of rehabilitation, mental health, healthcare staffing (RN,LPN HHA, and homemakers), ambulance services, and not for profit care for the developmentally disabled.

We are familiar with your reimbursement environment, cost accounting, and compliance.

We provide financial and compliance services from the sole practitioner up to the multi million dollar group practice.

Please call Blaine at (978) 604-4253. to see what we can do for you.

This means that any borrowing by small businesses will result in an increase of double digit basis points on any type of borrowing, be it lines of credit or debt secured by hard or soft assets.

According to Steve Wynn this will be another “wet blanket” on business formation and job growth.

If you calculate and pay your tax liability in a timely manner before the end of the year you may avoid tax penalties and interest for late payments which you would incur if you waited to pay them with your annual tax return.

Penalties and interest for late payments and late filings may amount to hundreds or thousands of dollars depending on the size of your business.

Let us insure that your tax liabilities are paid on time during the year to avoid IRS and/or MADOR penalties and interest.

Call Blaine at (978) 604-4253

Every business has to take a mid year check up. Every business should compare their first six months of 2010 (1/1/10-6/30/10) to the same period for 2011. If your revenue is down you have to find out why. If your expenses are up you must investigate the reason.

You may have tax liabilities you didn’t anticipate even though business was down from 2010.  Or you may be paying too many taxes.

Every business’ best practices should include an annual and rolling budget with monthly reports showing actual results to projected. You have to determine your target margin for products or services, and if you have more than one business line you should have a profit and loss statement that lets you drill down into the profitability of your various products and services.

We can also help you with pricing strategies and cost reduction strategies. Let’s both look “under the hood” of your enterprise and see what’s really  going on. We believe mid year is an optimal time to do this so you can make “mid course corrections”.

Call Dr. Blaine at (978) 604-4253 for your mid year check up or email him at patstax@gmail.com.

If you hire a $15 an hour employee you will pay 7.65% in FICA taxes, 2-14% in state unemployment taxes, and .3 % in worker’s compensation insurance. So your $15 an hour employee is actually going to cost you around $ 21 per hour, not to mention the hike in your unemployment insurance if you have to fire or lay them off. If bookkeeping staff are added to make your total business employees 11 FTE’s  (11 40 hour employees) in Massachusetts you will have to provide them with health insurance, which may cost more than the salary you pay them. Also $15 an hour is a low average for competent bookkeeping help, which may range up to $18-$20 per hour.  At these rates total costs would range from $22 to $25  per hour. You would also have to add in costs for your own supervision and review or a third party who would perform high level tasks such as tax filings for substantially more than $25 per hour.

Outsourcers such as Patriot Tax and Bookkeeping, Inc. assume all these taxes and risks. All you will have pay is a reasonable rate per on going service on site or off site or special project and that’s that. We guarantee all our work per written corporate policies, so you can rest assured that you’re getting your money’s worth for the work done and the high level of the work done.

Call Blaine at (978) 604-4253 or email patstax@gmail.com.

Patriot now offers on site services for monthly closings including bank reconciliations, accruals, and loan and credit card reconciliations. We will provide you with profit and loss statements, balance sheets, and customized reports on your computer system.  We also specialize in cost accounting,special projects,tax filings including 1099′s, 941′s, W-2/W-3′s, corporate, partnership, and personal income taxes.

We have wide experience with Quickbooks Pro, Quickbooks Online, Quickbooks Enterprise, and high end systems such as Great Plains Dynamics with FRx reporting.

Our company policy is to meet any competitor’s price quote. We believe you should pay the most reasonable price that the market dictates.

Call Blaine at (978) 604-4253 for more information.

If you have changes in your financial circumstances such as unemployment, a large medical expense, or divorce since the time you took out unsecured credit card debt, you may be eligible for mitigation of interest charges to your credit card account. We can negotiate this for you. If we cannot make an arrangement for you that avoids bankruptcy we will refer you to a qualified bankruptcy attorney at no charge. That is our guarantee.

Beware of shysters out there who will promise impossible results and demand thousands of dollars in upfront fees or “donations”. We are a financial services firm, and our fees are clearly delineated.

Call Blaine at (978) 604-4253 for a personal consultation.

Typically depreciated assets are recovered through the lifetime of their service. For a commercial lease this would be five years. Unfortunately for the lessee the congress has passed legislation that mandates that the recoverable life of leasehold improvements equal the recoverable life of the building costs, which are 39 years versus 5 years.

A temporary reduction to a 15 year cost recovery period was enacted by congress in 2004. This expired in 2009, so the cost recovery period for leasehold improvements reverted to the 39 year period.

For 2010 relief may be sought by revisions to Section 179 property, which now includes leasehold improvements. Rather than taking costs evenly over a 39 year period, leasehold improvements that are part of a lease, placed in service after three years in which the building was placed in service, and are contained in Section 1250 property (property that is disqualified for long term capital gain treatment).  The cost of enlargement of the building, elevators. escalators, and any structural improvements of common areas are not qualified for the immediate Section 179 expense.

The limit for Section 179 expense of leasehold improvements is $250,000 of the overall annual limit of $500,000.

The Section 179  Deduction for Items, which may be subject to depreciation has always allowed an immediate deduction of expenses for capital items.  Most accountants choose not to avail their clients of the election when they start their businesses due to the initial tax losses of a start up electing rather to use the depreciation over time so it may be applied to net sales as the business grows.

New for 2010 is the Section 179 deduction for not only equipment and vehicles but for capital improvements to real property.

The immediate expensing of all costs associated with real property improvements include:

Any improvements to owned property subject to depreciation.

Any leasehold improvements that are part of a lease, apply only to space occupied by the lessee, does not involve elevators, escalators, enlargement of the building, common areas.

Taxpayers can deduct up to $250,000 in any year subject to taxable income limitations.

Any unused Section 179 deduction expenses may be depreciated in following years.