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The SS&C Difference...

We go beyond tax planning, filling out forms and auditing. You benefit from the fact that we are small enough to offer highly personalized service, but large enough to offer unmatched versatility and technical proficiency.

 

As one of the first firms in the US to become employee owned, we have a uniquely vested interest in providing you with remarkable service. We are located in the heartland of America but we serve clients nationwide.

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Using the same secure technology as online banking, portals enable you to instantly access our services directly from our website. You simply log in to your personalized client portal using a secure ID and password. It really is just that easy!

 

 

 

Audit and Assurance Services

Summers, Spencer & Company, P. A. serves clients in the insurance, banking, employee benefits, construction, non-profit, service and manufacturing industries.

SS&C Solutions, Inc.

Our strong employee/owner culture is the key to the success of our firm. Each employee/owner has a personal stake in the future of the firm and of the clients that we serve. We are successful because our clients are successful.

SS&C "U" Enrichment Series

We are dedicated to making it as easy as possible for you. We believe strong organizations shape their businesses and their goals with education, insight, and information. That’s why we provide our clients with information to keep them informed and competitive.

 

SS&C UPDATES...

An interview with Brian Lang, CPA, CVA, CEPA is featured in a recently published Thomson Reuters whitepaper regarding software integration for CPA firms. (CLICK HERE to view the article.)

Thomson Reuters (TR) provides accounting industry professionals with technology to find trusted answers. SS&C has a long standing relationship with TR. Brian also participated in a focus group discussion at TR headquarters. Thomson Reuters staff were researching the decision making process of their customers as well as how their clients evaluate post-sale service.

 

Brian commented that the biggest benefit for SS&C was meeting and interacting with several of TR's top level product managers and establishing a personal relationship with the firm's trusted answer providers.

SS&C Latest News...

Now’s the time to start thinking about “bunching” miscellaneous itemized deductions

SS&C Staff - Monday, August 29, 2016

Many expenses that may qualify as miscellaneous itemized deductions are deductible only to the extent they exceed, in aggregate, 2% of your adjusted gross income (AGI). Bunching these expenses into a single year may allow you to exceed this “floor.” So now is a good time to add up your potential deductions to date to see if bunching is a smart strategy for you this year.

Should you bunch into 2016?

If your miscellaneous itemized deductions are getting close to — or they already exceed — the 2% floor, consider incurring and paying additional expenses by Dec. 31, such as:

• Deductible investment expenses, including advisory fees, custodial fees and publications

• Professional fees, such as tax planning and preparation, accounting, and certain legal fees

• Unreimbursed employee business expenses, including vehicle costs, travel, and allowable meals and entertainment.

But beware …

These expenses aren’t deductible for alternative minimum tax (AMT) purposes. So don’t bunch them into 2016 if you might be subject to the AMT this year.

Also, if your AGI exceeds the applicable threshold, certain deductions — including miscellaneous itemized deductions — are reduced by 3% of the AGI amount that exceeds the threshold (not to exceed 80% of otherwise allowable deductions). For 2016, the thresholds are $259,400 (single), $285,350 (head of household), $311,300 (married filing jointly) and $155,650 (married filing separately).

If you’d like more information on miscellaneous itemized deductions, the AMT or the itemized deduction limit, let us know.