Blog

23
May

Tax deductions for business purposes

One of the most misunderstood concepts that our clients find confusing every year around tax time has to do with business expenses, assets, and depreciation. Specifically, when you spend money on something for your business, how does that get reflected at tax time? Many people are familiar with the concept of depreciating assets, but it’s …

5
May

CPA Day of Service 2019

Each year, the Florida Institute of CPAs organizes a CPA day of service, encouraging members to give back to their communities. We’re thrilled to be getting involved with two important organizations on May 17-18 this year. On Friday, May 17, our team will be gathering at the Jacksonville Zoo to volunteer with the USO for …

3
May

Fitbit Challenge Winners 2019

The tax returns are in, and so are the step counts. We have winners of the 2019 Fitbit Challenge! First, the top steppers for March and April. March Page Shelby Tina April Kaneka Page Tina And although there was a valiant effort to unseat the reigning champ, that seems to be an impossible task. The …

26
Apr

Did you extend your tax return for 2018?

Many taxpayers filed extensions this year due to surprises and misunderstandings about the new rules under the Tax Cuts and Jobs Act. If you extended your tax return and didn’t pay an estimate of the tax you owe, be aware that interest and penalties are now accumulating. When you extend your tax return, it’s in …

4
Apr

Quick tips about tax deductions for individuals

As we’re in the final crunch period to complete 2018 tax returns, we’ve been answering numerous questions about tax deductions. Here are some of the most significant changes our clients are seeing and what they mean for your tax bill this year. Are my contributions to charity still deductible? The short answer: yes, if you …

28
Mar

Do you owe taxes for the first time in 2018?

Many people elect to have their income withheld at a higher rate in order to receive a large tax refund each year. While we generally don’t advise giving the government an interest-free loan, many enjoy getting the big payback in April. For 2018, the first tax year under the Tax Cuts and Jobs Act (TCJA), …

18
Mar

Tax Season and the Fitbit Challenge

It’s tax season, and CPAs across the country are working around the clock, seldom leaving their desks as they endeavor to complete tax return after tax return. Massive quantities of pizza and Chinese takeout are being consumed. Clients are dropping by with donuts. Coffee is brewed by the gallon. Sunshine and time spent outdoors are …

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