How much does the average American pay in taxes? It depends

By | April 26th, 2018|Categories: Uncategorized|Tags: , |

The 2018 U.S. tax deadline is now behind us, which means that many Americans have now received, or will receive, their tax refunds, while others have now written checks to the IRS for the amounts they owe. With that in mind, how much does the average American household pay in taxes? And keep in mind that Read more

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Tax deductions? Yes, please!

By | January 10th, 2018|Categories: Accounting, CPAs and CFOs, Financial Investments, Small Business, Staff Accountants, Tax Information|Tags: , , , , , , , , , |

The conventional tax wisdom at the end of the year is to pull in deductions to offset current tax liability and push off income to postpone tax payment. This takes on added significance in 2017 with enactment of the new tax reform law, the Tax Cuts and Jobs Act (TCJA). Because the bill, just signed into Read more

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Will you see more money with the new tax reform bill?

By | January 8th, 2018|Categories: Accounting, CPAs and CFOs, Financial Investments, Small Business, Tax Information|Tags: , , , , , , , |

On the Friday before Christmas, President Trump signed the new tax reform bill into law. The Tax Cuts and Jobs Act will take effect January 1, 2018, but when will most taxpayers see the effects? When will they see more money in their wallets?   How much will the new Tax Cuts and Jobs Act save Read more

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Individual & Business Tax Changes 2018

By | December 28th, 2017|Categories: Small Business, Tax Information|Tags: , , , , , , , |

Generally, the provisions in the Tax Cuts and Jobs Act (TCJA) take effect on January 1, 2018. Most of the provisions affecting individuals are temporary and “sunset” after 2025, while the majority of business provisions are permanent. Following is a rundown on some of the key changes. Most individual taxpayers will not see the changes until Read more

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Coral Gables Small Businesses: An Essential Tax Planning Checklist

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

Finding the right information for filing your Coral Gables small businesses' taxes 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 to get Read more

Coral Gables Personal and Small Business Taxes with a Human Touch

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 Read more

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 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 arrangements to save  in Read more

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 Read more

Tips for Starting a Business – 5 Things to Keep in Mind

By | October 10th, 2016|Categories: Accounting, Small Business|Tags: , , , |

When you start a business, you need to know about income taxes, payroll taxes, understanding your tax obligations, and much more. Here are five tips for starting a business to help you get you off to a good start: 1. Business Structure. One of the first decisions you need to make is which type of business Read more

Learn About the Tax Implications of Lending Money Before You Give Loans

By | October 8th, 2016|Categories: Accounting, Bookkeeping, Tax Information|Tags: , , , |

Lending money to a cash-strapped friend or family member is a noble and generous offer that just might make a difference. But before you hand over the cash, you need to plan ahead to avoid tax complications for yourself down the road. There are tax implications of lending money that you need to be aware of. Read more