Tax Implications Of The American Health Care Act (AHCA)

By | May 5th, 2017|Categories: Accounting, Financial Investments, Tax Information|Tags: , |

Today, the House of Representatives passed the GOP’s proposed American Health Care Act (AHCA) plan in a 217 to 213 vote. The plan would repeal and replace several provisions of the current Affordable Care Act (ACA) by amending contribution limits to HSAs, returning the medical expense deduction AGI threshold to 7.5% and repealing certain taxes enacted [...]

Get Started Now: The Essential Tax Planning Checklist for Coral Gables Small Businesses

By | April 21st, 2017|Categories: Tax Information|Tags: , , |

Finding the right information for filing your small business taxes in the Miami area can be a real struggle. The April deadline to file last year’s taxes has passed, but it’s never too early to start preparing for next year. To make things easier for you, we’ve compiled a checklist of helpful actions you can take [...]

Giving Your Coral Gables Personal and Small Business Taxes the Human Touch: Why Automation Will Never Beat Experience

By | March 23rd, 2017|Categories: Tax Information|Tags: , , , , , , |

You’ve probably seen some advertisements lately about getting your taxes filled out and filed in minutes, either online or at the nearest big-chain tax preparation service location in the Coral Gables area. If you’ve ever used one of these services, you know one thing—it’s all true. You can log on or walk in and usually be [...]

Forms 1099 and W-2: Tax Changes for 2017 that Coral Gables Small Businesses Need to Know

By | February 3rd, 2017|Categories: Tax Information|Tags: , , , , |

Have you filed your 1099-MISC forms yet? In the past, small businesses were not too hard-pressed to provide their employees and contractors with the appropriate tax forms in a timely manner. This is no longer the case. Increased penalties and accelerated deadlines for 2017 should be cause for concern for businesses that have relied on [...]

5 Financial Resolutions for Your Small Business in 2017

By | January 7th, 2017|Categories: Tax Information|Tags: , , , , , |

As a Coral Gables small business owner, you should know that without goals to guide you, nothing gets accomplished. Though New Year’s has passed, you can still make financial resolutions for your small business. They'll allow you to evaluate where your business is at and where it needs to go in the coming calendar year. Whether you’re [...]

End of 2016 Important Tax Info

By | December 30th, 2016|Categories: Tax Information|Tags: |

Please refer to the video below for important end of year tax information to help you to prepare for your 2016 tax filing.  

7 Year-End Tax Arrangements to Make Before 2017

By | December 8th, 2016|Categories: Financial Investments, Small Business, Tax Information|Tags: , , , , , , , |

As the eleventh hour of 2016 comes to a close, it’s time to prepare a clean tax ledger for a new year! Regardless of what money-saving tax strategies you’ve implemented this year, you should take the time now to prepare yourself for April. If you haven’t already done so, try making these seven year-end tax arrangements [...]

Income Tax Planning Crash Course: 5 Tips to Help You During Tax Season

By | October 19th, 2016|Categories: Small Business, Tax Information|Tags: , , , , |

With only about six months to go until April 15th, there's never been a better time to start planning for tax season. Taking steps now to reign in and organize your finances can mean more money in your pocket, which is never a bad thing. There's nothing worse than wondering how much more you could have [...]

Tax Tips for Hobbies that Earn Income

By | October 14th, 2016|Categories: Small Business, Tax Information|Tags: , , |

Millions of people enjoy hobbies such as stamp or coin collecting, craft making, and horse breeding, but the IRS may also consider them a source of income. As such, if you engage in a hobby that provides a source of income, you must report that income on your tax return; however, taxpayers (especially business owners) should [...]

Keep Track of Miscellaneous Deductions

By | October 12th, 2016|Categories: Bookkeeping, Small Business, Tax Information|

Miscellaneous deductions such as certain work-related expenses you paid for as an employee can reduce your tax bill, but you must itemize deductions when you file to claim these costs. Many taxpayers claim the standard deduction, but you might pay less tax if you itemize. Here are some tax tips that may help you reduce your [...]