Send Us A Message

Name

Email

Phone

Message

We love working with Mary. She is very responsive and very honest with us. If she thinks what we are doing is not right for our books, she will tell us. And she is very easy to work with.

Ojibwa LLC

I do not know how to keep my accounting records. Mary helped me get organized and she keeps my books for me. She also answers my question within a reasonable time period.

Stan, Rounding Inc.

The proper handling of personal taxes is difficult and time consuming enough, but when mixed with even more complex corporate tax and accounting situations, the job can seem overwhelming. When this happens it is no time for part-time, strip mall tax preparers or do-it-yourself software programs. You need a professional with the education, training, experience, communication skills, dedication and attention to detail your case deserves. For the past several years I have trusted Mary Pang, CPA with the management of all my accounting needs and have received, in my opinion, the highest level of professional service available in the state. Mary Pang, CPA is definitely Oklahoma's rising star of accounting!

Bobby Woolslayer, P.I.

Quick response times and very easy to work with!

Brittany Sears

I felt this was a very simple process and loved being able to do it via email and internet. Since I was doing everything from the comfort of my home, if I needed any additional documents, it was quick, convenient and easy for me to get them, as opposed to having to leave a location to return home for missing documents. I felt that Mary was very friendly and prompt in everything that she did. I would definitely feel comfortable returning to her for my taxes.

Nicole

Mary has been preparing my family business' taxes for years now. She also handles my mother's and my tax returns as well. She is always friendly and professional with her clients and tries her best to understand our tax situation. She works well with my sister's CPA in Oregon (due to our family business return) and is always available to answer our questions. If she is not available, she normally gets back to us within 1 day. We are very thankful to have her as our CPA and she is wonderful to work with.

Alfred

I have been Mary's client for 8 years now. She is my personal QuickBooks guru that I could email or call if I have any questions. She normally gets back to me within one day. She would give me step by step instructions on how to get something done in QuickBooks and if it is too much for me to handle, she will log into my computer remotely and get it fixed herself. If she is unable to fix it, she will get QuickBooks support to fix it for me or she will learn how to get it done. The best thing about Mary is that she will admit her mistakes. I have not met a lot of accountants who will admit their mistake. To me, that means she is honest and is humble enough to know everyone makes mistakes.

Angie

I am thankful to have Mary as my CPA. I can be sure that everything is taken care of and that my tax return is done right. Just recently, I received letters from IRS & Oklahoma Tax Commission. I have no idea what to do so I took those letters to Mary. She got right to it and called IRS & Oklahoma Tax Commission and got the issue fixed for me. She then calls me to explain what the issue was and what has been done to correct the situation. I appreciate the effort she took to explain it to me in a way I could understand. Best of all, I did not have to do anything other than getting the information to Mary and letting her handle it.

Catherine

Mary helped me in saving a lot of money in my payroll issue with IRS. Before our company hired Mary, we were paying a lot of payroll tax penalties because I am always so busy with my business and do not have the time to pay my payroll taxes on time. Once we hired Mary, we no longer have to worry about not paying our payroll taxes on time. She logs onto our computer remotely and she schedules the payment every week. I also feel confident because she is always available to answer questions. I can call her up & she will get back to me within a day. If she does not know the answer to my question, she will say so & look it up for me. She will then call or email me back with the answers she found out. I am very thankful to find a CPA who helps me and who is not scared of admitting that she does not know everything.

George

You couldn't ask for a better "hand-holding", expertise thoroughness, HARD WORKER!!!, with personality plus and a lovely demeanor. She's considerate, thoughtful and the very best part for me is patient!!! I ask a lot of questions...detailed, sometimes nit-picky questions. She always went out of her way to respond quickly and with the utmost respect. I wish she would go out on her own, as I'd follow her anywhere! Oh, and if she doesn't know an answer, she freely admits it and gets back to you promptly with the answer when she gets it. She works well/coordinating with other CPA firms/office personnel, even if that can be tricky and often holds up her work for you!

Paula Fenster Brust

I had no idea how to keep my books. I just didn't know all that comes with owning my business. When I contacted Mary, she was so helpful in explaining a lot of concerns I had and have me fix some early mistakes I had done. I still don't understand a lot of what's going on, but every time I have questions Mary is just a phone call away. She also sends me a text every 15 days or so to let me know I'm doing okay, plus a full report every month. Letting a professional do what she does best has just alleviated one of my biggest headaches and I know it is getting done the right way.

Triton Bixby

Mary helped us with our QuickBooks set up. She answered all our questions regarding QuickBooks & she trained us in how to effectively use QuickBooks for our business. We also asked for her help in getting our books up to date. She managed to get it done in 1 day and all I have to do is keep it going. We love working with Mary. She is friendly, very helpful & very prompt in her responses.

Lisa Pally

I was so pleased with this class. Mary is very knowledgeable and is very thorough. She explains information in a way you can understand it very clearly. If you have questions, she is more than willing to show you how to get things done! Highly recommend her expertise.

Marti Jackson

Mary has been very helpful in setting up our accounting in a small business we have started. She is very knowledgeable and willing to help in any way needed. She is an accountant wiz whom I have received nothing but great advice. I am so happy I met her!

Leonor Carnoske

Mary saved my QuickBooks. Mary recently helped us get our QuickBooks in order. I was expecting it to take hours but she was able to get us taken care of in a little over an hour. It is clear that she is knowledgeable and professional. I highly recommend her services.

Sandra Baca

Mary is extremely personable and knowledgeable in accounting. I really enjoyed her personality and friendliness as we discussed my business specifics. She was able to answer so many questions and anything she needed to look into further, she got back to me in a very timely manner. Mary was thorough in reviewing my documents and information before preparing my return. I am thankful I met Mary and look forward to working with her in the future!

Jackie Roberts

CARES ACT changes retirement plan and charitable contribution rules

As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of a tax law passed on March 27.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains a variety of relief, notably the “economic impact payments” that will be made to people under a certain income threshold. But the law also makes some changes to retirement plan rules and provides a new tax break for some people who contribute to charity.

Waiver of 10% early distribution penalty

IRAs and employer sponsored retirement plans are established to be long-term retirement planning accounts. As such, the IRS imposes a penalty tax of an additional 10% if funds are distributed before reaching age 59½. (However, there are some exceptions to this rule.)

Under the CARES Act, the additional 10% tax on early distributions from IRAs and defined contribution plans (such as 401(k) plans) is waived for distributions made between January 1 and December 31, 2020 by a person who (or whose family) is infected with COVID-19 or is economically harmed by it. Penalty-free distributions are limited to $100,000, and may, subject to guidelines, be re-contributed to the plan or IRA. Income arising from the distributions is spread out over three years unless the employee elects to turn down the spread-out.

Employers may amend defined contribution plans to provide for these distributions. Additionally, defined contribution plans are permitted additional flexibility in the amount and repayment terms of loans to employees who are qualified individuals.

Waiver of required distribution rules

Depending on when you were born, you generally must begin taking annual required minimum distributions (RMDs) from tax-favored retirement accounts — including traditional IRAs, SEP accounts and 401(k)s — when you reach age 70½ or 72. These distributions also are subject to federal and state income taxes. (However, you don’t need to take RMDs from Roth IRAs.)

Under the CARES Act, RMDs that otherwise would have to be made in 2020 from defined contribution plans and IRAs are waived. This includes distributions that would have been required by April 1, 2020, due to the account owner’s having turned age 70½ in 2019.

New charitable deduction tax breaks

The CARES Act makes significant liberalizations to the rules governing charitable deductions including:

  • Individuals can claim a $300 “above-the-line” deduction for cash contributions made, generally, to public charities in 2020. This rule means that taxpayers claiming the standard deduction and not itemizing deductions can claim a limited charitable deduction.
  • The limit on charitable deductions for individuals that is generally 60% of modified adjusted gross income (the contribution base) doesn’t apply to cash contributions made, generally, to public charities in 2020. Instead, an individual’s eligible contributions, reduced by other contributions, can be as much as 100% of the contribution base. No connection between the contributions and COVID-19 is required.

Far beyond

The CARES Act goes far beyond what is described here. The new law contains many different types of tax and financial relief meant to help individuals and businesses cope with the fallout.

Back

Send Us A Message

Name

Email

Phone

Message

We love working with Mary. She is very responsive and very honest with us. If she thinks what we are doing is not right for our books, she will tell us. And she is very easy to work with.

Ojibwa LLC

I do not know how to keep my accounting records. Mary helped me get organized and she keeps my books for me. She also answers my question within a reasonable time period.

Stan, Rounding Inc.

The proper handling of personal taxes is difficult and time consuming enough, but when mixed with even more complex corporate tax and accounting situations, the job can seem overwhelming. When this happens it is no time for part-time, strip mall tax preparers or do-it-yourself software programs. You need a professional with the education, training, experience, communication skills, dedication and attention to detail your case deserves. For the past several years I have trusted Mary Pang, CPA with the management of all my accounting needs and have received, in my opinion, the highest level of professional service available in the state. Mary Pang, CPA is definitely Oklahoma's rising star of accounting!

Bobby Woolslayer, P.I.

Quick response times and very easy to work with!

Brittany Sears

I felt this was a very simple process and loved being able to do it via email and internet. Since I was doing everything from the comfort of my home, if I needed any additional documents, it was quick, convenient and easy for me to get them, as opposed to having to leave a location to return home for missing documents. I felt that Mary was very friendly and prompt in everything that she did. I would definitely feel comfortable returning to her for my taxes.

Nicole

Mary has been preparing my family business' taxes for years now. She also handles my mother's and my tax returns as well. She is always friendly and professional with her clients and tries her best to understand our tax situation. She works well with my sister's CPA in Oregon (due to our family business return) and is always available to answer our questions. If she is not available, she normally gets back to us within 1 day. We are very thankful to have her as our CPA and she is wonderful to work with.

Alfred

I have been Mary's client for 8 years now. She is my personal QuickBooks guru that I could email or call if I have any questions. She normally gets back to me within one day. She would give me step by step instructions on how to get something done in QuickBooks and if it is too much for me to handle, she will log into my computer remotely and get it fixed herself. If she is unable to fix it, she will get QuickBooks support to fix it for me or she will learn how to get it done. The best thing about Mary is that she will admit her mistakes. I have not met a lot of accountants who will admit their mistake. To me, that means she is honest and is humble enough to know everyone makes mistakes.

Angie

I am thankful to have Mary as my CPA. I can be sure that everything is taken care of and that my tax return is done right. Just recently, I received letters from IRS & Oklahoma Tax Commission. I have no idea what to do so I took those letters to Mary. She got right to it and called IRS & Oklahoma Tax Commission and got the issue fixed for me. She then calls me to explain what the issue was and what has been done to correct the situation. I appreciate the effort she took to explain it to me in a way I could understand. Best of all, I did not have to do anything other than getting the information to Mary and letting her handle it.

Catherine

Mary helped me in saving a lot of money in my payroll issue with IRS. Before our company hired Mary, we were paying a lot of payroll tax penalties because I am always so busy with my business and do not have the time to pay my payroll taxes on time. Once we hired Mary, we no longer have to worry about not paying our payroll taxes on time. She logs onto our computer remotely and she schedules the payment every week. I also feel confident because she is always available to answer questions. I can call her up & she will get back to me within a day. If she does not know the answer to my question, she will say so & look it up for me. She will then call or email me back with the answers she found out. I am very thankful to find a CPA who helps me and who is not scared of admitting that she does not know everything.

George

You couldn't ask for a better "hand-holding", expertise thoroughness, HARD WORKER!!!, with personality plus and a lovely demeanor. She's considerate, thoughtful and the very best part for me is patient!!! I ask a lot of questions...detailed, sometimes nit-picky questions. She always went out of her way to respond quickly and with the utmost respect. I wish she would go out on her own, as I'd follow her anywhere! Oh, and if she doesn't know an answer, she freely admits it and gets back to you promptly with the answer when she gets it. She works well/coordinating with other CPA firms/office personnel, even if that can be tricky and often holds up her work for you!

Paula Fenster Brust

I had no idea how to keep my books. I just didn't know all that comes with owning my business. When I contacted Mary, she was so helpful in explaining a lot of concerns I had and have me fix some early mistakes I had done. I still don't understand a lot of what's going on, but every time I have questions Mary is just a phone call away. She also sends me a text every 15 days or so to let me know I'm doing okay, plus a full report every month. Letting a professional do what she does best has just alleviated one of my biggest headaches and I know it is getting done the right way.

Triton Bixby

Mary helped us with our QuickBooks set up. She answered all our questions regarding QuickBooks & she trained us in how to effectively use QuickBooks for our business. We also asked for her help in getting our books up to date. She managed to get it done in 1 day and all I have to do is keep it going. We love working with Mary. She is friendly, very helpful & very prompt in her responses.

Lisa Pally

I was so pleased with this class. Mary is very knowledgeable and is very thorough. She explains information in a way you can understand it very clearly. If you have questions, she is more than willing to show you how to get things done! Highly recommend her expertise.

Marti Jackson

Mary has been very helpful in setting up our accounting in a small business we have started. She is very knowledgeable and willing to help in any way needed. She is an accountant wiz whom I have received nothing but great advice. I am so happy I met her!

Leonor Carnoske

Mary saved my QuickBooks. Mary recently helped us get our QuickBooks in order. I was expecting it to take hours but she was able to get us taken care of in a little over an hour. It is clear that she is knowledgeable and professional. I highly recommend her services.

Sandra Baca

Mary is extremely personable and knowledgeable in accounting. I really enjoyed her personality and friendliness as we discussed my business specifics. She was able to answer so many questions and anything she needed to look into further, she got back to me in a very timely manner. Mary was thorough in reviewing my documents and information before preparing my return. I am thankful I met Mary and look forward to working with her in the future!

Jackie Roberts

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