Posted on August 04, 2021
by
Joanie Stein
Congratulations! You graduated college, secured a job and are entering the real world of financial independence. Before forging ahead and spending your first paycheck, take a moment to understand some basic lessons in financial responsibilities that you probably did not learn in school. Lesson 1: You Owe the Government Money Under U.S. law, all money […]
Posted on August 02, 2021
by
Rick Bazzani
It is not uncommon to blindly toss documents received throughout the year into a drawer, never to be seen again until it comes time to file your tax returns. This process, however, is not ideal for year-round tax planning, which is critical for tax efficiency and wealth preservation. Instead, take the time now to establish […]
Posted on July 29, 2021
by
Lewis Taub
According to the U.S. Treasury, the cryptocurrency market capitalization in April 2021 reached more than $2 trillion. Today, there are approximately 4,000 virtual currencies, such as Bitcoin (BTC), Etherium (ETH), Tether (USDT) and Dogecoin (DOGE), stored and traded on more than 8,600 cryptocurrency exchanges around the world, including Kraken and the largest exchange, Coinbase, which […]
Posted on July 26, 2021
by
John Ebenger
Commercial property owners in Florida will soon receive Truth in Millage (TRIM) notices indicating the county’s appraised market value of their real estate and the estimated property taxes they can expect to pay for the year. Although it is not uncommon for landlords and developers to ignore these estimates in anticipation of receiving a final […]
Posted on July 07, 2021
by
Lewis Taub
Signaling that cryptocurrency is not a passing fad, more than 12,000 people gathered in Miami in early June 2021 for what was billed as the largest Bitcoin conference in history. As digital currency continues to gain mainstream popularity — both as a viable investment vehicle and a method of payment for goods and services — […]
Posted on June 29, 2021
by
Angie Adames
There is a very fine line between business and pleasure when it comes to how the IRS treats business-travel expenses, including airfare, meals and lodging. In general, some or all of these costs may be deductible only when they are deemed reasonable, necessary and directly attributed to the taxpayer’s active conduct of a trade or […]
Posted on June 22, 2021
by
Karen Lake
Florida’s legislature recently approved House Bill 7071 offering families throughout the state a variety of tax-saving opportunities, including a new sales-tax holiday that celebrates all the outdoor activities that local residents can enjoy year-round. The first-ever Florida “Freedom Week” allows residents to purchase an expansive list of recreational equipment and outdoor supplies free of sales […]
Posted on June 21, 2021
by
Joanie Stein
The IRS issued important guidance concerning an expansion of the COVID-19-related paid sick and family leave tax credits available to employers under the American Rescue Plan (ARP) enacted earlier this year. Background Congress introduced the emergency paid sick leave and family and medical leave programs in 2020 as part of the Families First Coronavirus Response […]
Posted on June 09, 2021
by
Adam Cohen
Individuals participating in high-deductible health plans (HDHPs) will be able to contribute more of their pre-tax earnings to health savings accounts (HSAs) in 2022 and yield the related tax and savings benefits. The IRS recently announced it will increase the annual HSA contribution limits that qualify for a full tax deduction in 2022 to $3,650 […]
Taxpayers that received Paycheck Protection Program (PPP) loans to maintain and continue paying their workforce through the COVID-19 pandemic may be missing out on valuable employee retention tax credits (ERCs) equal to as much as $7,000 per employee, per quarter in 2021. Here is what eligible businesses and non-profits need to know to claim as […]
