Answers to Common Tax Questions

Death and taxes, as the saying goes, are the only two certainties in life. But another, if lesser, certainty centers around the same types of basic tax questions popping up each year. As... Read more

Published: 03/21/17

April 1 Deadline to Take Required Retirement Plan Distributions

The Internal Revenue Service today reminded taxpayers who turned age 70½ during 2016 that, in most cases, they must start receiving required minimum distributions (RMDs) from Individual... Read more

Published: 03/17/17

Some Americans Would Prefer an IRS Tattoo to Paying Taxes: Survey

As tax season ramps up, a new survey shows that some Americans would rather scrub the toilets at Chipotle than hand over a portion of their salary to the Internal Revenue... Read more

Published: 03/10/17

Hal Hershkowitz to Receive Montefiore Society’s Leadership Award

The Cardozo and Montefiore Societies of Tampa Bay will host their first collaborative program on April 4 at the Bank of Tampa in downtown St. Petersburg.
The community... Read more

Published: 03/08/17

AICPA to Senate: "Get Moving on Tax Treaties!"

The American Institute of CPAs is asking the U.S. Senate to quickly consider and approve the various bilateral income tax treaties and protocols that are currently pending in Congress, although... Read more

Published: 03/06/17

$1 Billion In Refunds Waiting for People Who Haven't Filed a 2013 Tax Return!

The Internal Revenue Service announced that unclaimed federal income tax refunds totaling more than $1 billion may be waiting for an estimated 1 million taxpayers who did not file a 2013 federal... Read more

Published: 03/02/17

6 Surprising Tax Deductions for Freelancers

As a boutique accounting firm, we see businesses of all sizes. We've been fortunate to be able to guide many start-up businesses over the course of their growth from inception to success story,... Read more

Published: 02/22/17

EITC and ACTC Refunds Expected to Arrive the Week of Feb. 27

As the IRS begins releasing refunds for taxpayers who claimed the Earned Income Tax Credit and the Additional Child Tax Credit, the tax agency reminded taxpayers that they should not expect refunds... Read more

Published: 02/21/17

The Overtime Rule Has Been Blocked. Now What?

A federal judge in Texas has blocked the Department of Labor's (DOL's) new federal overtime rule, which would have raised the Fair Labor Standards Act's (FLSA's) salary threshold for exemption... Read more

Published: 11/23/16

Special Tax Breaks for US Armed Forces

As tax filing season approaches, the Internal Revenue Service wants members of the military and their families to know about the special tax benefits available to them.
Here are some of those tax... Read more

Published: 11/15/16

5 Things You Can Learn from Your Tax Return

The IRS receives roughly 150 million tax returns each year.
If you’re like many Americans, preparing that filing is the closest look you’ve given to your finances for some... Read more

Published: 11/11/16

How To Prove You Filed a Tax Return, If The IRS Says You Didn't

Sometimes taxpayers and the IRS just disagree on whether the taxpayer filed a return. The taxpayer faces a daunting task to prove the filing of a return.  In a recent bankruptcy... Read more

Published: 10/25/16

Tax Relief for Victims of Hurricane Hermine in Florida

Victims of Hurricane Hermine that took place beginning on August 31, 2016 in parts of Florida may qualify for tax relief from the Internal Revenue Service.
The President has declared that a major... Read more

Published: 10/17/16

Follow These 3 Savvy End-of-Year Tax Tips

There's an antidote to the end-of-the-year rush to stock up on business expenses.
Easy: Do a January-December swap.
As you approach the end of the year, be strategic about your income and... Read more

Published: 10/04/16

Tax Issues When Renting Your Home on Airbnb or VRBO

Today many people earn extra money by temporarily renting out their entire home (or a room in their house or apartment) through rental services such as Airbnb, HomeAway, or VRBO. If... Read more

Published: 09/01/16

IRS Cyberattack Total is More Than Twice Previously Disclosed

Cyberattacks on taxpayer accounts affected more people than previously reported, the Internal Revenue Service said Friday.
The IRS statement, originally reported by Dow Jones, revealed tax data... Read more

Published: 08/23/16

How do your tax deductions compare with the average American's?

The Internal Revenue Service recently released its preliminary statistics from the 2014 tax year, which showed that a total of 148,686,586 tax returns were filed, with an average adjusted gross... Read more

Published: 08/19/16

What To Do If Your Tax Refund Is Stolen

There are few things worse than spending hours preparing your tax return only to discover that identity thieves have already snatched your refund.
For many people, the misery starts with an error... Read more

Published: 08/17/16

Florida's back-to-school tax free weekend begins next week!

Shoppers looking to save money on back-to-school supplies will have the chance to buy items tax free in Florida from August 5-7. 
Florida state officials recently voted to cut allowances on... Read more

Published: 07/27/16

Identity Thieves Love Small Businesses

Not long ago, a small business owner I work with found herself the target of an identity thief. He didn’t open credit lines in the name of the business, but instead stole its name and good... Read more

Published: 07/22/16

Should Your Small Business Offer Health Insurance?

Health insurance is expensive—and getting more so all the time. Does it make more sense for a small company to provide coverage (with employees paying some of the premiums) or let them... Read more

Published: 07/19/16

Married? 6 Times You May Want to File Taxes Separately

A whopping 95% of married couples file taxes jointly, and for good reason: It’s almost always cheaper than filing separately. But what about the other 5% of the time? Here are a few cases... Read more

Published: 07/14/16

3 Ways Student Loans Affect Your Taxes

Anxiety at tax time is common, but Millennials feel it more than others.
Millennials are the age group most worried about filing their taxes, according to a recent NerdWallet... Read more

Published: 07/13/16

Top Tax Issues for 2016

1. Supreme Court ruling on ACA
Millions of people will now continue to have access to affordable health care in the states which did not establish marketplace healthcare exchanges. It also tees up... Read more

Published: 06/29/16