Monthly Archives: May 2018

IRS Reaffirms Retirement Plan Contributions Limits for 2018 by Nancy M. Valdes, CPA

Posted on May 30, 2018

Tax season is here, and most taxpayers are focused on gathering documentation to file their 2017 tax returns by the April 17, 2018, deadline. Yet, it’s also important for taxpayers to consider the cost-of-living adjustments that the IRS has applied to retirement plan contributions in 2018, which taxpayers will report on their returns in 2019. […]

Avoid IRS Audit Red Flags by Richard Cabrera, JD, LLM, CPA

Posted on May 10, 2018 by Richard Cabrera

According to the IRS, the number of tax returns that the agency examines under audit has decreased each year since 2010. However, the IRS’s shrinking budget and limited resources are not enough to give taxpayers a reprieve from an audit. Following are 10 of the top red flags that could trigger IRS scrutiny.   Not […]

Be on Alert to Avoid the Top-12 Tax-Related Scams by Joseph L. Saka, CPA/PFS

Posted on May 06, 2018 by Joseph Saka

The April tax filing deadline has passed, but taxpayers are still at risk of falling victim to tax-related fraud and identity theft schemes that continue throughout the year. Following is a list of the top-12 scams that the IRS identified for 2018. Identity Theft. If criminals gain access to your personal information, such as your […]

Florida Kicks off 2018 Hurricane Season with Week-Long Sales Tax Holiday by Michael Hirsch, JD, LLM

Posted on May 04, 2018 by Michael Hirsch

The Florida legislature recently announced the creation of a seven-day Disaster Preparedness Sales Tax Holiday from June 1 to June 7, 2018. During this first week of the 2018 hurricane season, Florida residents will not be required to pay sales tax on hurricane-preparation supplies that include the following: Reusable ice costing $10 or less, Flashlights, […]