Category Corporations


Two simple ways to cut your S-Corp flow through taxes

Much of tax accounting makes sense.  You get income, you pay expenses, you pay taxes on the net income.  Other tax accounting issues are not so simple, namely S-corp flow through taxes.  In some cases, the difference between paying twice as much tax or not being able to take a significant deduction are simply a …


Just over a month to go; tax deadline approaches!

The corporate tax deadline is just about a week away.  That will mark just over one month until the individual tax deadline.  The deadline is April 18th this year because of Emancipation Day, a local holiday in Washington DC. Have you submitted your tax information to your accountant yet?  If not, here are some tips to …


House Votes To Defund Health Bill

When it comes to the health bill, taxpayers may have nothing to fear from the mandate to buy insurance in last year’s healthcare legislation.  Unless IRS agents want to work for free, individuals and businesses may end up having no need to purchase or report health insurance when the insurance mandate kicks in.  The House …


Unemployment Compensation Bills Hitting Florida Businesses

Unfortunately, the unemployment compensation bills you received in the mail from the State of Florida is not another scam. Florida has had to borrow from the Federal Government to fund unemployment benefits. Now all Florida businesses who employ workers and pay wages are being billed for the interest. Florida businesses who pay unemployment taxes are …


1099 Reporting Requirement Hanging By Thread

Technically, Obama’s healthcare law is now void after a federal judge in Pensacola, FL ruled the entire law unconstitutional.  However, the law is now headed for the appeals process and eventually the Supreme Court.  In the meantime though, repeal efforts are being bounced back and forth between the Republican controlled House and Democrat controlled Senate.  …


The Future of Florida LLCs after Olmstead

In case you thought your LLC was safe from creditors, think again.  Florida’s Supreme Court has recently ruled that interests in single member LLCs can be taken in a charge order to satisfy the owner’s personal debts and judgments against them.  The real kicker though is that this judgment may affect multi-member LLCs as well. …


Taxes they are a rising … Third wave

As the midterm election storm is brewing, we are closely watching the potential effects of party and committee changes on taxes and tax law.  One thing is for certain, this election has the potential to have a big impact on your wallet through the stay or repeal of recently passed health care bill. More of a …


Small Business Tax Bill Increases Section 179 Depreciation

The latest small business tax bill won’t bail anyone out, keep any company from failing, or help stagnant companies grow.  However, if you are already expanding and need capital the Small Business Jobs and Credit Act of 2010 will help. The latest small business tax bill to help grow jobs and stimulate the economy offers two ways …


Taxes they are a rising … First wave

The hurricane season has brought plenty of attention to future weather patterns and strong waves for surfers in North Florida this Summer.  However what concerns me more is the recent actions and in-actions by our elected officials in Washington which have the potential to bring waves of tax increases.  These waves are powerful and will …


Update: Quickbooks Online Payroll Update Messy for Some

Quickbooks Online has recently updated their Quickbooks online payroll module and moved the data to a new platform.  While this was intended to be a seamless process, some clients have experienced loss of data, changes to the way accounts are linked and payroll items behave, and in some cases have been required to resubmit e-filing …

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