As small business owners struggle to stay afloat a little over a year after the COVID-19 pandemic struck, an extension for small business owners to apply for the second round of Paycheck Protection Program (PPP) funds has been granted, moving…
Accounting Blog
What is Foreign Earned Income Exclusion
At this point in life, we all understand that as a U.S. citizen you must pay federal taxes on income earned worldwide, but there are some exclusions that are important to know about. The Foreign Earned Income Exclusion is for…
Tax Implications for Selling Your Rental Property Overseas
Rental properties overseas are just like any other asset that you may own. However, there are a few differences. And a couple of them are very important to remember. CALCULATING CAPITAL GAINS ON YOUR RENTAL PROPERTY When you sell your…
Tax Considerations for Selling Your Primary Home
Are you selling your primary home? Pre-1997 (yes, I know that was a while back), you needed to invest any gains from the sale of your home into another home to qualify for the tax exclusion. However, today that is…
Is Cryptocurrency Considered Taxable Income
It seems to be the latest craze and fortunes can be made or lost with the click of a button. Cryptocurrency is a form of digital currency that can be used to buy goods and services and uses online ledgers…
PPP Round 2 Changes To Benefit Smaller Sized Businesses, Self-Employed and Sole Proprietors
The new coronavirus relief application period will open on February 24, 2021 and run through March 9, 2021 to expand the Payroll Protection Program (PPP) to smaller sized businesses that were unable to qualify previously. The trusted experts at Orlando…
How to Get Your Missing Stimulus Check Tax Credit
If you are like millions of Americans, your second – or even perhaps your first — stimulus check may not have made its way through the mail to you. The experts at Orlando based CPA Accounting & Tax Services discuss…
What is Cost Segregation & How Can It Benefit Your Business?
Cost segregation is a strategic tax planning tool that allows purchasers (both companies and individuals) who have purchased, built or remodeled real estate of any kind favorable tax benefits and increased cash flow from accelerated depreciation deductions and deferral of…
7 Things to Know About Your 2020 Taxes
The Covid-19 pandemic hit close to the beginning of 2020, with several changes brought on by coronavirus-related legislation that may impact your 2020 tax year filing. As 2020 is now in the books, it’s a good idea to start taking…
What to Know about the 401K Under the Cares Act
What is the Cares Act? The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was created to assist Americans cope with financial hard times due to the COVID-19 outbreak. Under the Cares Act, if you are under retirement age, you…
What You Need to Know About the Second PPP Loan
A new coronavirus relief bill passed last month will provide $284 billion in Payroll Protection Program (PPP) loans for small businesses. The experts at Orlando based CPA Accounting & Tax Services shares important details about the new relief bill, outlining…
Who Claims Children Of Divorced Or Separated Parents on their Taxes?
Children of divorced or separated parents, who claims them on their taxes? So first off, the IRS will give the tax deduction to the person that has the child the most time during the year. It’s important to note, it…
Owe a Huge Tax Bill as a Business Owner? Here’s What to Do Next
If you’re a business owner who just had your taxes calculated and your breath stopped when you saw how much you owe, you’re not alone. This guide walks through what you didn’t do last year, what you can still do…
Why Keeping Too Much Money in the Bank Is a Financial Mistake
Most people believe the bank is the safest place to keep their money. While banks may feel secure, keeping excess money in the bank is often one of the worst places for it to sit. In this guide, we’ll walk…
How to Pass Your Home to Your Children and Avoid Capital Gains Taxes
Many homeowners want to leave their home to their children, yet few realize that how they do it can mean the difference between a smooth transfer or tens of thousands of dollars lost to taxes. This guide explains how to…
2026 Tax Brackets Explained – How They Really Work & How to Save Money
2026 is coming up real fast, and the tax brackets are going to change. In this post, we’ll walk through: How these new brackets affect you How tax brackets actually work (most people misunderstand them big time!) What you can…
How to Avoid Capital Gains When Passing Your Home to Your Children
Are you trying to pass down your home to your kids? In this post, we’ll walk through how to avoid capital gains once your children inherit your house, what to do, what not to do, and how this gets done…
HSAs in 2026 – What’s Changing and Why It Matters
HSAs in 2026 are going to be changing with higher limits and now, even more health plans will be available to qualify. The 2026 tax changes will allow a lot more Americans to take advantage of the triple tax benefit…
Boxable Houses: The Investment that Reduce Taxes IMMEDIATELY!
Did you make a lot of money this year either through W-2 income or business income? Are you looking to significantly lower you tax bill? If so, you are in the right place. Today we are discussing a great tax…
5 Profit Killers Destroying Your Business
Mistakes often kill your profit. Today, I want to discuss with you the five things you need to examine carefully so you can protect, and improve your profit. 1. The Subscription Sneak Attack We all fall for this (CPAs included):…
What To Do Before the 2026 Tax Season
The 2026 Tax season might feel far away, but getting organized now can save you serious stress, and money. Today we are discussing five essential steps you should take before the 2026 tax season so you can file smoothly, avoid…
5 Things You Should Do Before Starting Your Own Business
After more than 25 years in business, I’ve watched countless small companies rise and fall. Often businesses fail because the repeat the same exact mistakes that everyone else is making. If you’re thinking about starting your own business, there are…
The Wealth Killer Nobody Talks About…
How Car Payments Keep You Poor, and What To Do Instead Remember about three months ago when you bought that shiny new car? It looked incredible, smelled amazing, and felt like the perfect upgrade. Fast-forward a few months later, and…
5 Money Habits Keeping YOU Poor!
What’s keeping so many Americans broke? Believe it or not, it often comes down to a handful of habits repeated week after week. It’s that simple. It doesn’t matter if you are a CPA or not; we all have to…
5 BIGGEST Mistakes Real Estate Investors Make!
Real estate can be a powerful investment or a financial disaster if you don’t know what you’re doing. What looked like a great deal 20 years ago in a certain neighborhood might now be a total mess. Let’s walk through…
Avoid These 5 Mistakes When Starting A Business
As a business owner, I’ve seen so many people make basic mistakes when starting out. These mistakes could easily be avoided, saving a lot of trouble down the road if they just start the right way from the beginning. So…
5 Big Beautiful Bill Tax Changes That Can Impact YOU!
The Big Beautiful Bill…interesting name for a tax bill, right? I’ve researched the five most talked-about topics concerning this bill. Today I am going to cover these top 5 topics hot topics from my perspective as a CPA. 1. No…
How to Fix Your Personal Tax Return! Step by Step Guide
Amending your personal income tax return may seem overwhelming, but it’s a manageable process when you break it down step by step. In this guide, I’ll walk you through how to correct your return using IRS Form 1040-X. Step 1:…
How to Do Bookkeeping Manually (Without Software!)
Requirements to Get Started with Bookkeeping Manually So, to get started with Bookkeeping Manually (without software), we have just two requirements. They are: #1 – First, you must have a bank account that is used exclusively for business income and…
How To Calculate The Mileage Tax Deduction!
Understanding the Mileage Deduction That Can Make a Big Difference on Your Tax Return Do you know how to calculate the mileage deduction that will make that big break on your tax return? In this blog post, I am going…
How to Calculate the Home Office Deduction!
Today we are going to dive into a very popular topic amongst those who work at home. It’s How to Calculate the Home Office Deduction. Many of my clients had lots of issues with calculating this deduction this past tax…
How to Sell Your Home Tax Free
If you lived in your home two years out of the last five years, Section 121 allow you to exempt $250,00 for single individuals and a whopping $500,00 if you are married on capital gains when you sell your home….