Bargman John F. CPA

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Accountants-Certified Public, Accounting Services, Bookkeeping

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Tomorrow: 8:00 am - 5:00 pm

18 Years

in Business

(214) 368-5145Map & Directions6060 N Central Expy Ste 220Dallas, TX 75206 Write a Review

Hours

Regular Hours

Mon - Fri:	8:00 am - 5:00 pm

Bargman John F. CPA

Tax Planning
At John F. Bargman, CPA, I guide my clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals. My expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in the existing as well as recently enacted tax laws. I am knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices from various tax agencies.

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More Info

Services/Products: Accounting Services - QuickBooks / Sage - Tax Return Preparation - Planning for Individuals / Businesses - Trusts and Estates
Brands: Quickbooks / Sage, Sage, quickbooks
Payment method: debit
Location: One Energy Square
Neighborhood: Central Dallas
Social Links: https://www.yelp.com/biz/john-f-bargman-cpa-dallas
Categories: Accountants-Certified Public, Accounting Services, Bookkeeping, Financial Services, Tax Return Preparation, Tax Return Preparation-Business, Taxes-Consultants & Representatives
Other Information: Certifications: Certified Public Accountants

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09/15/2016

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Details

Phone: (214) 368-5145

Address: 6060 N Central Expy Ste 220, Dallas, TX 75206

View similar Accountants-Certified Public

Bargman John F. CPA

Tax Planning
At John F. Bargman, CPA, I guide my clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals. My expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in the existing as well as recently enacted tax laws. I am knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices from various tax agencies.
Charitable Giving
You cannot deduct contributions made to specific individuals, political organizations and candidates, the value of your time or services and the cost of raffles, bingo, or other games of chance. To be deductible, contributions must be made to qualified organizations. Cash contributions must be substantiated by a bank record, or a receipt, letter or other written communication from the donee organization indicating the name of the organization, the date of the contribution, and the amount of the contribution. In addition, if the contribution is $250 or more, a written acknowledgement showing the amount of cash contributed, any property contributed, and a description and a good faith estimate of the value of any goods or services provided in return for the contribution or statement that no goods or services were provided in return for the contribution, is required. Non-cash contributions over $500 must be supported by an attachment to the return which states the kind of property contributed, along with the method used to determine its fair market value. Form 8283, Non-cash Charitable Contributions is required for contributions with a claimed value of more than $5,000. Contributions which exceed the 10% limitation can be carried over for five years.
Estate Taxes
IRS Representation
Professional representation can be vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and state agencies. Â If you have been chosen for an audit, the professional representation you can find with my firm can put many of your worries at bay. Â I am ready and willing to answer any and all questions the IRS may be asking of you.
Avoiding Probate
Joint tenancy, with the privilege of survivorship. Two or more people have equal ownership. The property is passed to the joint owner upon death. This should be used to effectively avoid probate.
Tax Services
Earlier is better when it comes to working on your taxes. The IRS encourages everyone to get a head start on tax preparation. Not only do you avoid the last-minute rush, early filers also get a faster refund.
Roth IRA
Roth IRAs - Contributions to a Roth IRA are not tax deductible but qualified distributions, including earnings, are tax-free.
Real Estate Taxes
Deductible real estate taxes are usually any state, local, or foreign taxes on real property. If a portion of your monthly mortgage payment goes into an escrow account and your lender periodically pays your real estate taxes to local governments out of this account, you can deduct only the amount actually paid during the year to the taxing authorities. Your lender will normally send you a Form 1098, Mortgage Interest Statement, at the end of the tax year with this information.
Form 1065
Partnerships. A partnership must file Form 1065, â€œU.S. Return of Partnership Income,â€ for the year it closes. The â€œfinal returnâ€ box must be checked, and the same must be done on Schedule K-1, â€œPartnerâ€™s Share of Income, Deductions, Credits, etc.â€
Tax Deductions
The IRS reminds taxpayers that specific rules apply for taking a tax deduction for donating cars to charities. If the claimed value of the donated motor vehicle, boat or plane exceeds $500, you can deduct the smaller of the vehicle's FMV on the date of the contribution or the gross proceeds received from the sale of the vehicle.
Income Tax
The interest gained from state and local bonds is usually exempt from federal income taxes. These investments generally pay back at a lower interest rate than commercial bonds of similar quality.
Tax Deferral
Capital Gains Taxes
The primary advantage of making lifetime gifts is that, by removing assets from your estate, you shield future appreciation from estate taxes. But thereâ€™s a tradeoff: The recipient receives a â€œcarryoverâ€ tax basis, meaning that the recipient assumes your basis in the asset. If a gifted asset has a low basis relative to its fair market value (FMV), then a sale will trigger capital gains tax on the difference.
Tax Return Preparation
Available in most communities are Volunteer Income Tax Assistance (VITA) sites to help with tax return preparation. People volunteer their time to help their neighbors. The service is free to those with limited or moderate income people, non-English speaking, the elderly and the disabled. Some VITA sites even offer free electronic filing. If you want to know more about a VITA site in your community or volunteering your time, call the IRS at 1-800-906-9887. Check out IRS e-file.

Mutual Funds
While it's important to keep year-end mutual fund and IRA contribution statements forever, you don't have to save monthly and quarterly statements once the year-end statement has arrived.
Bonds
Money Market Funds
The yield is the amount paid annually by an investment. The yield is most commonly a percentage of the market price of an investment, which does not take into account the appreciation. Since money market funds and certificates of deposit don't fluctuate like stocks and bonds do, the yield would be the same as the total return.

Accounting Services
The function of compiling and providing financial information primarily by reports referred to as financial statements. Accounting includes bookkeeping, systems design, analysis and interpretation of accounting information.
Payroll Services
John F. Bargman, CPA's payroll services can help you reduce the time spent on administration through developing and implementing a computerized payroll system that will facilitate processing, timely payment and preparation of tax retums.
Bookkeeping Services

Financial Planning
Following are some generally recognized financial planning tools that may help you reduce your tax bill.
Retirement Planning
A person who participates in a qualified pension, stock bonus, or profit-sharing plan, a qualified annuity plan, a tax-sheltered annuity (TSA) plan, a simplified employee pension plan, or a local, state, county, or federal retirement plan has active-participant status, as does his or her spouse.
Annuities
A long-term contract sold by life insurance companies that guarantees fixed or variable payments to the purchaser at regular intervals. Payments are usually scheduled to begin at a future time, such as retirement. Some annuities provide tax-deferred earnings, often as part of retirement plans.
Long Term Care
With long-term care insurance (LTCI), you are guaranteed to be paid a certain amount of money towards care for a specified length of time.
Asset Management
Diversification is similar to asset allocation, but within the asset class. For instance, diversification would be buying 15 or 20 different stocks, with the same purpose in mind as asset allocation, to minimize risk and to make sure that if something tanks, it doesn't take your entire portfolio down with it.
Living Trusts
Reverse Mortgages
A reverse mortgage is a way for you to take advantage of some of the equity that is currently tied up in your home. A reverse mortgage works in the same manner as a normal one, reversed, and the homeowner is paid monthly versus having to pay. The major difference between this and a home equity loan is that you aren't required to pay anything back to the lender as long as you retain ownership of the home.

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