Small Business Accountants and Advisors Dedicated to Your Success
Seiler, Singleton & Associates, PA provides custom tax, accounting, and advisory
services to individuals, small businesses, and nonprofit organizations.
Why choose our team?
Our experienced team of Certified Public Accountants serve as a trusted resource in tax management and accounting while also providing expert guidance in business consulting and planning.
Client-focused and dedicated to creating value-added relationships with the individuals, small businesses, and nonprofits that we serve, you can count on the CPAs at Seiler, Singleton & Associates to help you set and achieve your financial goals.
Let the Seiler Singleton team help you reduce your tax obligations and maximize your individual and business potential. Contact us today to see how our professional staff can help you achieve your financial goals and give you the peace of mind that you deserve.
At Seiler, Singleton & Associates, PA, your success is our priority.
Frequently Asked Questions
What do you need to prepare my tax return?
Most nonbusiness taxpayers will need to provide copies of Forms W-2 and 1099 that they receive in January and February. Other items will include statements for charitable contributions, property tax payments, mortgage interest statements, and health insurance information. To help gather their necessary documents, we give each of our clients an organizer at the beginning of the year. For new clients, we always want a copy of your prior year tax return to help ensure that we have all the documents necessary to prepare a complete return. New clients will also need to provide a limited amount of personal information, including dates of birth, phone numbers, and email addresses.
Business owners will also need to be able to provide a listing of income and expenses related to their business. This information is usually, but not always, provided in the form of backups of QuickBooks company files.
How long should I keep my tax documents?
The simple answer is: keep your tax documents for 7 years and your tax returns forever. Additionally, documents related to property ownership should be kept as long as you continue to own the property. This answer may be sufficient for most personal tax returns, but a business can accumulate thousands of documents over a 7-year period. To help narrow down what documents can be disposed of earlier than 7 years, we have prepared a record retention guide. Click here to download our guide.
Who can I claim as a dependent?
You can claim a qualifying child or a qualifying relative as a dependent. In some limited circumstances, a nonrelative will meet the requirements of a qualifying relative. There are certain requirements to meet to claim a dependent as a qualifying child or a qualifying relative. If you meet the requirements, you can claim an exemption for each dependent that you claim on your tax return. Exemptions usually reduce your taxable income, but are subject to income limitations.
Do I need to pay estimated tax payments?
Generally, your tax withholding on your wages should be set at a level to cover your taxes for the year. If you own a business or have significant non-wage income, that may not be practical and estimates might be your best option. If you do not pay in enough taxes during the year, underpayment penalties may be assessed. To avoid underpayment penalties, individuals must pay in 90% of the current year income taxes or 100% of prior year income taxes to avoid underpayment penalties. (High income individuals must pay in 110% of prior year income taxes.) These payments must be made quarterly and are due on the 15th of April, June, September, and January.
Do I need to keep track of my medical expenses?
Normally, medical expenses are difficult to deduct. Medical expenses are part of your itemized deductions, so non-itemizers cannot deduct medical expenses. If you do itemize, you are limited to only deducting unreimbursed medical expenses above 10% of your adjusted gross income (“AGI”). Your AGI is the amount of income reported at the bottom of page one of your 1040. The threshold is 7.5% for those age 65 and older. Because of this income limitation, you usually either need to have a lot of medical expenses or not a lot of taxable income to deduct.
How can I save tax?
Taxes differ greatly depending to each individual’s situation. A popular strategy for lowering your tax liability is to maximize contributions to your employer sponsored retirement plan. We provide business and personal tax planning to give individualized, personal tax plans utilizing the best savings strategies for your unique situation.
How much will it cost for you to prepare my tax return?
We do not offer verbal quotes or estimates for tax return preparation services. Our tax return preparation fees start at $350.
A Small Public Accounting Firm Located in Washington, North Carolina
Seiler, Singleton & Associates, PA is more than just an accounting firm. We like to believe we have created a welcoming environment where our clients know they are more than just a tax return, a financial statement, a payroll report, a client number. We genuinely care about the success of each and every one of our clients and we strive to show that through our attention to detail and the accuracy of our work. This tradition of putting our clients first began over 35 years ago, with the establishment of Barry L. Gutfeld & Associates, PA in 1981. The firm was owned and operated by Barry Gutfeld until 1994, when he was succeeded by Dennis Seiler. In January 1995, the firm merged with William M. Zachman, CPA, PA. The firm was renamed Gutfeld, Seiler, Zachman & Co, PA with Dennis serving as the managing principal of the firm. The merger of these two firms created a diverse, robust public accounting firm with clients residing and conducting business in more than twenty states. The firm’s principals, Dennis Seiler and Bill Zachman, had a wide range of experience in accounting and auditing, individual, trust, and business tax preparation, financial and estate planning, and business consulting services.
That experience has been passed down to the firm’s current principals, David Singleton, CPA and Nancy (Beth) Yates, CPA. Today, we continue to offer a wide range of accounting services – from financial and retirement planning to bookkeeping and payroll services to tax return preparation for businesses, individuals, and not-for-profit organizations. The firm maintains an office in Washington, NC that is open Monday through Friday, and a satellite office in Plymouth, NC that is open by appointment. If you are looking for more than just an accounting firm, you have come to the right place.
We have over 35 years experience providing expert financial advice.
An enthusiastic team of advisers are always here to help.
Our Certified Public Accountants ensure you get optimum results.