Wallace Savage & Davis PC

For years, Wallace, Savage & Davis, P.C. has been providing quality, personalized financial guidance to local individuals and businesses. Our expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and financial planning. Wallace, Savage & Davis, P.C. is one of the leading firms in and throughout the area.

Our Services

At Wallace, Savage & Davis, P.C., we understand the importance of accurate financial advice. Our experienced team of certified public accountants strives to provide personalized financial guidance, taking into consideration the unique needs and goals of each client. Our comprehensive services include:

• Tax Preparation and Planning: We provide expert tax preparation and planning services, ensuring our clients receive the maximum refund or minimize their tax liability.
• Audit and Assurance Services: Our experienced team provides audit and assurance services, including financial statements, audits, and reviews, to ensure the accuracy and reliability of financial data.
• Financial Planning: We offer comprehensive financial planning services, including budgeting, cash flow management, and investment planning, to help clients achieve their long-term financial goals.
• Accounting Services: Our accounting services include financial statement preparation, budgeting, and budgeting analysis, ensuring our clients have a clear understanding of their financial situation.
• Business Consulting: We provide consulting services to businesses, including financial planning, budgeting, and cash flow management, to help them make informed decisions and increase their profitability.

CARES Act and Economic Relief

The CARES Act is a financial stimulus package designed to help individuals and businesses affected by the COVID-19 pandemic. The act provides relief for small businesses, employees, and individuals through various measures, including:

• Small Business Loans: Small businesses with fewer than 500 employees are eligible for up to $10 million in loans, which can be used for payroll and other expenses. The loans are completely forgiven if the employer continues to keep the employees or hires back those who have been laid off and uses the funds for covered expenses.
• Employee Retention Credit: Employers may be eligible for a refundable credit of up to 50% of qualified wages up to $10,000 per employee against applicable employment taxes.
• Delayed Employer Payroll Taxes: Employers can defer payment of the employer share of Social Security tax paid over the following two years, with half of the amount required to be paid by December 31, 2021, and the other half by December 31, 2022.
• Individual Relief: Individuals will receive a refundable tax credit of up to $1,200, with an additional $500 for each child, and a phase-out threshold of $75,000 for singles, $112,500 for heads of household, and $150,000 for joint taxpayers.

Conclusion

At Wallace, Savage & Davis, P.C., we are committed to providing our clients with personalized financial guidance and expert advice. Our comprehensive services, including tax preparation and planning, audit and assurance services, financial planning, accounting services, and business consulting, are designed to help individuals and businesses achieve their financial goals. In addition, we can assist with navigating the CARES Act and economic relief measures, ensuring our clients receive the support they need to overcome the challenges posed by the COVID-19 pandemic.

Our Team

Our team of experienced certified public accountants is led by seasoned professionals who have dedicated their careers to providing exceptional financial guidance and expertise. Our team is committed to staying up-to-date with the latest tax laws and regulations, ensuring our clients receive the most accurate and reliable financial guidance possible.