Archive

Monthly Archives: May 2017

Do You Know the Tax Implications of Selling Your Home? by Nancy Valdes, CPA


Posted on May 30, 2017 by

Spring is a common time for families to consider moving. As one school year comes to an end, there is usually ample time during the summer months for families to move into new homes before the start of a new school year in the fall. Selling one’s family home, however, comes with some important tax […]

Upcoming 2017 Tax Deadlines


Posted on May 20, 2017 by Richard Berkowitz

May 1: Deadline for Florida businesses to file annual reports with the state May 15: Deadline for Exempt Organizations to file annual returns on Forms 990 or 990-EZ, or receive an automatic six-month extension to file by November 15 June 15: Due date for individuals and calendar-year corporations to make 2017 second-quarter estimated tax payments June […]

Hurricane Season is Here. Is your Business Ready? by Daniel S. Hughes, CPA


Posted on May 18, 2017 by Daniel Hughes

With hurricane season upon us, businesses in South Florida and all along the east coast should have an emergency plan in place to safeguard their organizations before and after a disaster occurs. What types of situations can impede normal business operations? How can a business protect itself from these events, which may include power outages, burst […]

Global Ransomware Attack – Are You Protected from the Next One?


Posted on May 15, 2017 by

On May 12, 2017, a global ransomware attack named WannaCry impacted businesses, governments and individuals in more than 150 countries.  Luckily the damage it could have caused was limited with quick thinking by an IT pro. Ransomware is malicious software that blocks data owners from accessing their own systems and data.  Once criminals have control […]

Small Businesses Gain Multiple Benefits with Cloud Accounting Systems by Laurence Bernstein, CPA


Posted on May 12, 2017 by Laurence Bernstein

Accounting is a crucial component to business success. It demonstrates how money flows in and out of an organization and provides a basis for end-of-year tax planning.  However, business owners should neither underestimate the value that regular bookkeeping can bring to their profitability and future earnings nor should they ignore the countless opportunities they may […]

IRS Penalty Relief Program Comes with a Catch by Jeffrey M. Mutnik, CPA/PFS


Posted on May 10, 2017 by Jeffrey Mutnik

There is a well-known proverb: to err is human; to forgive, divine.  As humans, we do err from time-to-time.  Contrary to popular belief, the IRS understands that everyone makes mistakes. Therefore, the agency will grant certain taxpayers a one-time waiver from penalties if they fail to timely file returns or pay and deposit tax liabilities. […]

Work from Home? The IRS Wants to Help You by Angie Adames, CPA


Posted on May 08, 2017 by Angie Adames

Under the Internal Revenue Code, taxpayers who work from their homes may be able to deduct certain expenses related to the business use of their residence, regardless of whether they own the property or rent it from another party. These deductions, for items that can include mortgage interest, insurance, utilities, repairs, and depreciation, help to […]