Archive

Monthly Archives: June 2018

New Opportunity Zone Law can Improve Depressed Neighborhoods, Yield Investors Significant Tax Benefits by Ed Cooper, CPA


Posted on June 29, 2018 by Edward Cooper

In an effort to revitalize economically distressed communities around the country, Congress included in the Tax Cuts and Jobs Act a program that gives individuals and businesses preferential federal tax treatment when they reinvest capital gains into low-income communities.  However, to reap the benefits of the newly enacted legislation and other valuable tax incentives offered […]

Tax Lessons for Students Starting Summer Jobs by Joanie B. Stein, CPA


Posted on June 20, 2018 by Joanie Stein

Summer jobs and internships often represent students’ first encounters with the Internal Revenue Service (IRS) and the U.S. tax system. In fact, first-time workers are often surprised to see how much money employers take from their pay to cover their tax liabilities. Following are some of the important lessons students will learn, outside the classroom, […]

New Laws Make Tax Withholding Check-Ups More Important than Ever by Nancy M. Valdes, CPA


Posted on June 13, 2018 by

Preventative care is critical to averting serious (and often costly) emergencies. Just as annual medical exams can help prevent disease, and proactive vehicle maintenance can protect against major automobile repairs, regular check-ups with accountants can help individuals avoid a surprise tax bill and penalties come the April tax-filing deadline. One benefit of a mid-year tax […]

What Constitutes Best Evidence to Support Claims of Economic Damages? by Scott Bouchner, CMA, CVA, CFE, CIRA


Posted on June 11, 2018 by Scott Bouchner

Attorneys involved in economic damages cases understand that they have an obligation to prove lost profits with “reasonable certainty” based on their use of “best evidence.” However, the courts have not agreed on one universally accepted standard or criteria for what specifically constitutes best evidence; such decisions inevitably rely on the facts and circumstances of […]

You Can Correct Mistakes on your Tax Return by Nancy M. Valdes, CPA


Posted on June 05, 2018 by

If you realize that a tax return that you already filed for any of the prior three years contains mistakes, do not fear. The IRS offers taxpayers a simple process for making corrections and reporting information that you may have mistakenly omitted. Here is what you need to know about filing amended tax returns. Do […]

Florida Farms, Businesses May Now Apply for Hurricane Recovery Sales and Fuel Tax Refunds and Exemptions by Karen A. Lake, CPA


Posted on June 05, 2018 by Karen Lake

The Florida Department of Revenue recently published the following forms for qualifying businesses to apply for tax relief that the state legislature created in response to the 2017 hurricane season. Form DR-26SIAG allows farming and agricultural business to apply for a refund of sales tax paid on purchases of materials used to repair or replace […]