James A Dugan Ps - James A Dugan

Since 1994 James A. Dugan, CPA, PS has been provided income tax and accounting services in Redmond and Kirkland, Washington. Since 2012, the firm has focused on providing income tax services entirely. Jim is a 1973 graduate of Louisiana State University where he received a BS degree in accounting. Upon graduation, he left Louisiana to work at Cru (formerly Campus Crusade for Christ) in San Bernardino, California, where he met his wife, Wanda, and remained there for five years.Jim began his public accounting career in 1978 and became a certified public accountant after passing all parts of the CPA exam on his first attempt in 1979.

James A. Dugan, CPA, PS provides a wide range of services to individuals and businesses in a variety of industries. At James A. Dugan, CPA, PS, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.

Have you just started a new business? Did you know expenses incurred before a business begins operations are not allowed as current deductions? Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins. However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred. The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.

Following are some generally recognized financial planning tools that may help you reduce your tax bill. Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.