Category: Tax

Tax

IRS Offers Tax Relief to Victims of Hurricanes in Texas, Florida, Puerto Rico and the U.S. Virgin Islands by Karen A. Lake, CPA


Posted on September 12, 2017 by Karen Lake

Taxpayers who were affected by Hurricane Irma and who live in federally declared disaster areas of Florida, Puerto Rico and the U.S. Virgin Islands will receive automatic tax filing and payment relief from the IRS. The relief program is the same as granted to victims of Hurricane Harvey.   Filing Extensions   Under the IRS’s […]

Hurricane Irma Update


Posted on September 06, 2017 by Joseph Saka

Our office are closed in anticipation of  Hurricane Irma. Our firm members’ connectivity to the office and their ability to respond to this email or return phone calls will be impacted by our need to prepare for the storm and potentially evacuate to safer locations. We will respond as quickly as we can under the circumstances. If […]

What is my Tax-Filing Status? by Jack Winter, CPA/PFS, CFP


Posted on August 24, 2017 by Jack Winter

When U.S. taxpayers file their income taxes each year, they must choose a tax-filing status to ultimately determine the amount of taxes they must pay to the IRS. In some instances, selecting a filing status is easy; under certain circumstances, however, more than one filing status may apply. It is critical that taxpayers carefully consider […]

Navigating Tax Nexus in the Cloud by Karen A. Lake, CPA


Posted on August 18, 2017 by Karen Lake

There is no doubt that the rise of interconnectivity between networks, devices and apps have helped businesses in virtually all industries improve operational efficiency and personalize the customer experience. While more than half of U.S. states have made some progress in defining the sales taxability of digital goods and software, either by adopting the standards […]

6 Tax Regulations Face the Chopping Block by Edward N. Cooper, CPA


Posted on August 15, 2017 by Edward Cooper

The Department of Treasury in July 2017 announced its intent to reform or repeal eight tax regulations enacted during the Obama administration that it deems to be financially burdensome or excessively complex for U.S. taxpayers. It is expected that Treasury will make its final recommendations on these rules by September 18, 2017. The regulations at risk […]

Summer Camp Costs May Qualify for a Tax Credit by Rick Bazzani, CPA


Posted on August 11, 2017 by Rick Bazzani

Working parents may be able to offset some of the costs of sending their children to summer day camp when they qualify for the Child and Dependent Care Tax Credit. The credit, which is based on a taxpayer’s gross income, filing status, amount of allowable expenses and number of children, can be worth up to $2,100 for a […]

Taxpayers Beware: Summertime Tax Scams are on the Rise by Joseph L. Saka, CPA/PFS


Posted on August 01, 2017 by Joseph Saka

Tax-related scams are casting a dark cloud over the typically blue skies and sunshine-filled days of the summer months. During this time of easy living, people must remain vigilant against new and often aggressive schemes that can comprise their personal information and financial security and leave them as yet another victim of identity theft.   […]

Save on Back-to-School Supplies during Florida’s August Sales Tax Holiday by Karen A. Lake, CPA


Posted on July 31, 2017 by Karen Lake

Florida families preparing for the beginning of another school year should plan their back-to-school shopping during the state’s sales tax holiday weekend, which runs Friday, August 4, through Sunday, August 6. Public schools in Miami-Dade and Broward counties begin on August 21, and one week earlier for Palm Beach County. During the sales-tax holiday, Florida […]

It’s Always a Good Time for Tax Planning by Jack Winter, CPA/PFS, CFP


Posted on July 24, 2017 by Jack Winter

Individual and business taxpayers erroneously believe that once they file their returns in April, they can put those documents away in a file cabinet and ignore them until the following year. The fact is that the information contained in an annual tax return can provide an abundance of information about your current financial health and […]