Pinell & Martinez, CPAs is a full service CPA firm with locations in Covington, Louisiana and Ponchatoula, Louisiana. Our CPAs develop tax strategies and provide accounting services that support the goals and mitigate the risks of business owners, executives, independent professionals, and nonprofit organizations. Whether you are an entrepreneur or a professional who is uncertain of the changes in tax laws - Pinell & Martinez, CPAs is a business partner who will bring you solutions.
Contact us today to schedule a consultation!
1014 W 21st Ave, Covington, LA
Hours: M-TH 8:30am - 4:00pm
and by appointment
985.327.7311
1170 Veterans Ave, Ste. A, Ponchatoula, LA
Hours: M-F 8:30am - 4:30pm
and by appointment
985.467.0723
Please visit us at:
1014 W 21st Avenue in Covington
After 12 years of service from South Tyler Street, the Firm has made the decision to change office locations.
We are only one-half mile away and believe the new location will address the traffic issues we faced on South Tyler.
Stop by to say hello!
Please call if you have any trouble locating the new office:
T: 985.327.7311
The IRS will take several aggressive steps against fraudulent claims for the employee retention credit (ERC), including an immediate moratorium on the processing of new ERC claims. The IRS is allowing taxpayers to withdraw unpaid claims, and the offer of a settlement program for those who have received the pandemic-era benefit intended to help small businesses.
The actions are aimed at stopping fraud by promoters in ERC mills who promise to help small businesses obtain the credit,typically in return for a contingency fee based on the size of the credit.
The IRS Commissioner stated the ERC "was not designed to be a gravy train for promoters flooding the IRS with ineligible applications that slows down work on ERC and other important matters for taxpayers."
Pinell & Martinez, CPAs has opened a second location!
After serving our clients from the Covington office for over 12 years, the Ponchatoula office was opened January 2023 to better serve our clients in Ponchaotula, Hammond, Springfield, and surrounding areas.
The Ponchatoula office is located at:
1170 Veterans Avenue, Ste. A
The Firm's Partners will be available by appointment at both locations.
Please stop by to say hello!
The Internal Revenue Service issued the 2023 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, and medical purposes.
Beginning on January 1, 2023, the standard mileage rates for the use of a vehicle will be:
• 65.5 cents per mile driven for business use.
• 22 cents per mile driven for medical purposes.
• 14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2022.
These rates apply to electric and hybrid-electric vehicles, as well as gasoline and diesel-powered vehicles.
Contact us today for assistance with your tax filings.
Victims of Hurricane Ida now have until January 3, 2022, to file individual and business tax returns if a valid extension was filed by the original due date. This includes the entire state of Louisiana.
The January 3, 2022 deadline also applies to the quarterly estimated tax payment, normally due on September 15, and the quarterly payroll and excise tax returns normally due on November 1, 2021. It also applies to tax-exempt organizations, operating on a calendar-year basis, that had a valid extension due to run out on November 15, 2021.
Contact us today for assistance with your tax filings.
The IRS announced that they will begin processing tax returns on Friday, February 12, 2021. Contact Pinell & Martinez, CPAs to get started now and be first in line! Pinell & Martinez, CPAs is already accepting tax returns and will securely hold them for transmission to the IRS and States as soon as the e-file system is up and running.
Combined with e-file, direct deposit is the fastest way to get your tax refund. The IRS anticipates nine out of ten taxpayers will receive their refund within 21 days of when they file electronically with direct deposit if there are no issues with their tax return.
Contact us today for a free consultation.
The IRS announced Wednesday the launch of its "Get My Payment" website, which permits taxpayers to check on the date they can expect to receive their economic impact payment and update their direct deposit information.
Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L.116-136, eligible individuals will receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child. The payments phase out when adjusted gross income is over $75,000 for individuals, $150,000 for married taxpayers filing jointly, and $112,500 for taxpayers who file as head of household.
Our policy has always been to care for our clients. As we do our part to stay healthy and safe during the COVID-19 pandemic, we are here for you when you need us. We are encouraging a greater use of email, phone calls, and virtual document sharing. We also understand some clients may be unable or unwilling to share documents virtually. In such cases, appointments can still be scheduled on a case-by-case basis.
Please call or email us during our regular business hours for any questions or needs you may have.
If you haven't already, you can take a look at the CDC's extensive list of tips and preventive care guide to help you stay safe and healthy.
The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.
Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.
Please call or email us during our regular business hours for any questions or needs you may have.
Beginning on January 1, 2020, the standard mileage rates for the use of a vehicle for business, charitable, medical, or moving will be:
57.5 cents per mile driven for business use, down 0.5 cents from the rate for 2019
17 cents per mile driven for medical or moving purposes, down 3 cents from the rate for 2018
14 cents per mile driven in service of charitable organizations
Contact Pinell & Martinez, CPAs to begin planning for the upcomming tax season.
Beginning on January 1, 2019, the standard mileage rates for the use of a vehicle for business, charitable, medical, or moving will be:
58 cents per mile driven for business use, up 3.5 cents from the rate for 2018
20 cents per mile driven for medical or moving purposes, up 2 cents from the rate for 2018
14 cents per mile driven in service of charitable organizations
Contact Pinell & Martinez, CPAs to begin planning for the upcomming tax season.
Under Sec. 274 of the Tax Cuts and Jobs Act, expenses for entertainment, amusement, and recreation are not tax deductible. However, taxpayers may continue to deduct 50% of the meal expenses associated with operating their trade or business as long as: the expense is ordinary and necessary, the expense is not lavish, and the meal is between the taxpayer or employee and a current or potential customer \client.
Contact Pinell & Martinez, CPAs to begin planning for the upcomming tax season.
To compete for top talent, companies are moving to increase pay and benefits, including their contributions to retirement plans. Under the most common match formula, an employer contributes $1 for every $1 the employee saves up to some percent of salary.
The rule of thumb is you should save 15% of your salary (including any employer match) each year for 40 years. The problem is that many workers are not.
Read more from Forbes to learn how to make the most of your 401(k) match…
The limit on elective deferral for contributions to Sec. 401(k) plans, Sec. 403(b) plans, and most Sec. 457 plans, increased from $18,000 in 2017 to $18,500 for 2018.
Most other inflation-adjusted amounts related to pensions increased from 2017 to 2018. Congress provides these tax breaks to encourage retirement savings, and the cost-of-living index changes give a little extra room for more savings.
Read more from Forbes for IRA contributions limits and phaseouts…
Retirement planning has always been full of uncertainties: How much longer will you be able to work? How much savings will you have when you stop working? How many decades will that money need to last? But for anyone nearing retirement, or already there, the level of uncertainty has rarely been greater than it is right now.
Read more from Consumer Reports for tips on planning for a secure retirement…
Major security breaches are being reported more frequenty which is quiet scary - whether it be Equifax, Yahoo, Jason's Deli, and so on. However, individuals can now add the breach of the encrypted WPA2 protocol and putting at risk everyone who uses wireless internet at home or abroad. While you wait for network equipment makers to patch access points, there are several steps you can take to protect yourself.
Read more from BGR…
The Social Security Administration (SSA) announced that the maximum amount of wages in 2017 subject to the 6.2% Social Security tax will rise from $118,500 to $127,200, an increase of more than 7%. There is no limit on the amount of wages subject to the other portion of the FICA tax, the 1.45% Medicare tax. Contact us today to assist you with developing a strategy to help miniminze your tax liability in 2017.
Chris Pinell, CPA, CITP, CFE has been recognized by the American Institute of Certified Public Accountants (AICPA) with a Standing Ovation Award in the Information Management and Technology Assurance Practice (IMTA) at the AICPA's Practitioners Symposium and Tech+ Conference in Las Vegas on June 5, 2016. Chris was selected due to his involvement in the community, exemplary customer service from feedback and evaluations from those he provides service to, and service to the profession. Read more…
(As reported by Reuters) The average premium for benchmark 2017 Obamacare insurance plans sold on Healthcare.gov rose 25 percent compared with 2016, the U.S. government said on Monday, the biggest increase since the insurance first went on sale in 2013 for the following year. Due to continued losses, both UnitedHealth and Aetna have pulled out of the exchanges for 2017, resulting in fewer plans to choose from.
(As published by Entrepreneur.com) The end of 2016 is fast approaching, and tax time is imminent. Business owners will turn to their advisors for tips and many will receive the same time-worn response: sell under-performing stocks to harvest losses or make sure you have spent the money in your flexible spending account. Here are 10 great strategies to help reduce your tax burden…
As a full-service provider of tax, accounting, consulting, financial planning, and attest services, our clients count on us to advise them as a coherent team - and we do just that. We invite you to explore each of our service areas to learn more about how the professionals at Pinell & Martinez, CPAs can work harder for you.
No one knows your business like you do, but teaming with Pinell & Martinez, CPAs allows you to focus on the growth of your business while we attend to your other business obligations. We do whatever it takes to be knowledgeable about the issues that affect our clients, including regular visits to your offices and participation in board meetings and strategic planning sessions.
We serve a diverse client base - from individuals and sole proprietors to private corporations and nonprofit organizations. While we have devoted time and resources to developing niche areas within the firm, we prefer not to limit ourselves to clients within a set group of industries. When a client is a good fit, we just know it. And we suspect that you'll know it too.
Our certified public accountants provide tax preparation, audit, bookkeeping, and many other accounting services for clients beyond Covington and Ponchatoula. We promptly assist clients throughout Mandeville, Madisonville, Folsom, Hammond, Springfield, New Orleans, Baton Rouge, and beyond by utilizing remote file access and travel to your location when necessary.