On Monday, December 23, 2024, the 5th Circuit Court of Appeals has granted the government’s emergency motion to stay the Texas court’s...

It depends. Yes, you can take a deduction for damages due to a natural disaster that has been declared a federal disaster. This is...

For those who timely filed a 2023 tax extension, your extension has been extended again. For taxpayers whose address, or whose tax...

The 2024 COLA increase was 3.2%. The newly released Social Security COLA (Cost of Living Adjustment) increase for 2025 is 2.5%. This...

Normally, life insurance death benefit is not taxable. If you cash in a cash value policy, then any amount above premiums paid in will be...

This is a requirement brand new for 2024. This report is separate from the FL Sunbiz annual report filing. The Business Ownership...

This is a requirement brand new for 2024. This report is distinctly separate from the FL Sunbiz annual report filing. The Business...

We have all probably known, or have at least heard of a business owner dying and having no succession plan in place. Oftentimes, even...

This topic recently came up with a client. This is the law that requires the buyer of a US property that is sold by a foreigner to...

Confession time for Shawn, here. My wife and I purchased a used timeshare back in 2001 or so for $3,000. The original price was around...

We’ve got answers.  If you have any questions, or need to discuss a tax situation for this year or next, then please contact us.  We can...

Eligible designated beneficiaries (surviving spouse, minor children, chronically ill or disabled, and people no more than 10 years...

We get this question somewhat frequently.  The answer is no.  For a married joint (MFJ) tax return, the IRS sends all letters to both...

Beginning in 2024, you are no longer required to take RMDs from Roth 401(k) accounts.  This was part of the SECURE 2.0 Act.  Of course,...

Just like any other profession, we tax and accounting professionals notice trends and see what works and what doesn’t.  Here are the...

That’s a complicated issue.  This gets into the issue of a controlled group.  If the holding company owns 80% or more of the subsidiary,...

The Employee Retention Tax Credit was part of the COVID relief packages passed by Congress.  These claims were made by small businesses...

You should at least consider these issues when deciding whether to use the standard mileage rate or actual expense: a)    The fuel...

Extension Filing Deadline Information

Just 4 Concise Things for Today     Payment card settlement On December 13, 2019, the Court granted a $5.54B class action settlement with...