Brady Bolson Adele CPA

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Financial Planning Consultants, Accountants-Certified Public, Business Coaches & Consultants

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Today: 9:00 am - 5:00 pm

45 Years

in Business

(425) 289-2200Call Visit WebsiteVisit Website Map & DirectionsDirections11820 Northup Way Ste 101Bellevue, WA 98005 Write a ReviewWrite Review

Hours

Regular Hours

Mon - Fri:	9:00 am - 5:00 pm

Places Near Bellevue with Financial Planning Consultants

Medina (4 miles)
Kirkland (6 miles)
Redmond (7 miles)
Mercer Island (7 miles)
Sammamish (8 miles)
Seattle (12 miles)
Woodinville (14 miles)
Bothell (14 miles)
Kenmore (15 miles)

More Info

Extra Phones: Fax: (425) 289-2202
Services/Products
Payment method: cash only
Location
Neighborhood: Bridle Trails
Amenities
Accreditation: WSCPA, AICPA
Associations
Other Link: http://bolsoncpa.com
Categories: Financial Planning Consultants, Accountants-Certified Public, Business Coaches & Consultants, Investment Advisory Service, Tax Return Preparation

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Details

Phone: (425) 289-2200

Address: 11820 Northup Way Ste 101, Bellevue, WA 98005

Website: http://bolsoncpa.com

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Brady Bolson Adele CPA

Tax Planning
If you are interested in scheduling a call to discuss year end planning moves, please contact us. For more tax planning tips and recent tax updates, please visit our website at www.bolsoncpa.com.
Charitable Giving
Charitable giving. Congress has long used the tax laws to encourage charitable giving. The American Taxpayer Relief Act extends a popular charitable giving incentive through 2013: tax-free IRA distributions to charity by individuals age 70 1/2 and older up to maximum of $100,000 for qualified taxpayer per year. A special transition rule allows individuals to recharacterize distributions made in January 2013 as made on December 31, 2012. The new law also extends for businesses the enhanced deduction for charitable contributions of food inventory.
Estate Taxes
Tax Services
Even though you have told me that meeting to go over tax data helps to minimize errors and find opportunities for tax savings, I’m just going to mail you my data and signed engagement letter, or drop it off at your office, no later than March 15. I understand this is not likely to reduce tax preparation costs.
Roth IRA
Weigh the benefits of converting Traditional IRA to a Roth IRA to lock in lower tax rates on some pre-tax retirement accounts.
Real Estate Taxes
If you use the simplified method and you own your home, you cannot depreciate your home office. You can still deduct other qualified home expenses, such as mortgage interest and real estate taxes. You will not need to allocate these expenses between personal and business use. This allocation is required if you use the actual expense method. You’ll claim these deductions on Schedule A, Itemized Deductions.
Tax Deductions
If you are thinking about making gifts to charities, consider appreciated securities. With the increase in standard deduction, if you are borderline with the standard deduction vs. itemized, you may want to consider “bunching” your donations in certain years, so that in a year of high donation, you take the higher itemized deduction; in a year of low donation, you take the standard deduction. If you are unsure which charities to give yet, or won’t be itemizing next year, but want the tax deduction this year, consider a donor advised fund (DAF).
Income Tax
At Adele Brady Bolson CPA PS, we have experience and knowledge in the complete estate administration process, including preparation of federal estate tax returns (the 706), state inheritance tax returns, and estate income tax returns.
Tax Deferral
The IRS has announced that it is eliminating Form 8891, and taxpayers are no longer required to file this form for any year, past or present. This relief is retroactive. Under this change, many Americans and Canadians with RRSPs and RRIFs now automatically qualify for tax deferral similar to that available to participants in U.S. individual retirement accounts (IRAs) and 401(k) plans. In general, U.S. citizens and resident aliens qualify for this special treatment as long as they filed and continue to file U.S. returns for any year they held an interest in an RRSP or RRIF and include any distributions as income on their U.S. returns.
Capital Gains Taxes
The Washington long term capital gains tax (7% on gains in excess of $250,000) caught many by surprise. The state has provided a few clarifications on how the tax is calculated.
Tax Return Preparation
Many people think primarily of taxes when considering the services of a certified public accountant, and indeed tax return preparation is a major core of our work at Adele Brady Bolson CPA PS.

Investment Management
Elimination of miscellaneous itemized deductions such as investment management fees, tax prep fees and unreimbursed work related expenses. For those that have unreimbursed work expenses, you may want to ask your employer to reimburse the expenses even if you have to take a pay cut. This is because you are reducing your wage income for no change in your cash position.
Mutual Funds
Similar issues apply to other property that is likely to be bought and sold — for example, shares in a corporation or in a mutual fund, bonds (or other debt securities), etc. Keep in mind that if you reinvest dividends to buy additional shares of stock, each reinvestment is a separate purchase of stock, and the records of each reinvestment should be kept for at least six years after the return is filed for the year in which the stock is sold.
Bonds

Accounting Services
Payroll Services
There are many benefits to outsourcing a business’ payroll and related tax duties to a third-party payroll service. Outsourcing can help ensure that filing deadlines are met and all tax deposit requirements are satisfied. It can streamline your business operations, reduce your overhead, and generally remove one more burdensome task from your management’s plate.

Financial Planning
Our founder, Adele Brady Bolson retired from the firm at the end of 2013, and Amanda became the sole shareholder. Adele continues to provide financial planning and investment advising services through her wholly owned new firm Sound Sense Money Management, LLC from the same location.
Retirement Planning
Defined Benefit Limit. The limit on the annual benefit to be funded under a defined benefit pension plan rises from $180,000 to $185,000.
Annuities
Nonqualified annuity contracts. The new law permits holders of nonqualified annuities (annuity contracts held outside of a qualified retirement plan or IRA) to elect to receive part of the contract in the form of a stream of annuity payments, leaving the remainder of the contract to accumulate income on a tax-deferred basis.
Long Term Care
The ACA provides federal funds for states to implement plans that expand Medicaid long-term care services to include home and community-based settings, instead of just institutions.
Asset Management
Review the investment portfolio and target asset allocation. Confirm whether the allocation is within the targeted ranges for each asset class as recent market performance could have caused allocations to drift dramatically.

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