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Follow our latest news and thoughts which focuses exclusively on accounting, taxation, auditing, and also work updates.
Is There Any Risk in Filing Tax Extension for Tax Audit?
What is a tax extension? A tax extension is a request made by taxpayers to extend the filing deadline for their federal income tax return, it also covers paying tax
What is FDIC Insurance & What are the Coverage Limits?
Understanding FDIC Insurance and Your Coverage Limits – As your trusted advisors, we wanted to bring your attention to the potential risks associated with holding more than $250,000 in cash
Don’t Kill the Messenger – The Rise of the Internal Revenue Service – Part 4
We have all read the headlines; “IRS receives $80B to hire 87,000 new agents over the next decade”. Does this mean increased audits? Probably, who knows for certain but time
Don’t Kill the Messenger – The Rise of the Internal Revenue Service – Part 3
We have all read the headlines; “IRS receives $80B to hire 87,000 new agents over the next decade”. Does this mean increased audits? Probably, who knows for certain, but time
Don’t Kill the Messenger – The Rise of the Internal Revenue Service – Part 2
We have all read the headlines; “IRS receives $80B to hire 87,000 new agents over the next decade”. Does this mean increased audits? Probably, who knows for certain but time
Don’t Kill the Messenger – The Rise of the Internal Revenue Service – Part 1
We have all read the headlines; “IRS receives $80B to hire 87,000 new agents over the next decade”. Does this mean increased audits? Probably, who knows for certain, but time
Tis the Season for Charitable Giving
‘Tis the Season for Charitable Giving… So, let’s make sure you’re doing it right. What documentation am I required to keep on my Charitable Donations? That depends on the type
Tax Talk Tuesday – Charitable Donations
Charitable donations are a great way to give back to society and support causes that are important to you. However, when it comes to tax season, it’s important to understand
Senate Tax Reform Bill Passed
The Senate passed its version of the tax reform bill a few days ago, and the House passed it several weeks ago. What does this mean? It means we are
Tax Underpayment Penalties
The Tax Underpayment Penalty is a penalty imposed by the Internal Revenue Service for failing to pay sufficient estimated tax payments or withholding taxes throughout the year. To avoid this
IRS Releases Annual “Dirty Dozen” List of Tax Scams
The IRS tax fraud – What You Need to Know? Each year, the Internal Revenue Service issues a list of the top 12 tax scams it is seen throughout the
2018 Tax Brackets
For the next few weeks on Tax Tip Tuesday we will be looking new stuff and changes for 2018. This week…Tax Brackets! Revised tax brackets for individuals: 10%, 12%, 22%,
Real Estate Property Taxes Decrease This Year
Effective January 1, 2018, the state sales tax rate for renting, leasing, or granting a license to use real property decreases from 6% to 5.8%. Your county surtax will remain
CAP Changes Coming in This Year
Social security taxable wage limit is $128,700 Retirees can earn $17,040 without reducing their SS benefits Annual gift amount goes to $15,000 HSA contributions are $3,450 for individuals HSA contributions
Minimum Wage Rate Changes Effective January 1
Effective January 1, 2018, the minimum wage rate for Florida has been increased to $8.25/hour for non-tipped employees and $5.23/hour for tipped employees. If you subscribe to our poster update