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…
Accounting Blog
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…
What Is FIRPTA?
In this article & video we are going to answer the question, what is FIRPTA. Basically, FIRPTA stands for Foreign Investment Real Property Tax. It is designed for people who invest in real estate in the United States. The reason…
What Is An IP PIN and Why You Will Need One When Filing Taxes
Historically only provided to victims of identity theft! Now an Identity Protection Personal Identification Number (IP PIN) is soon to become the standard in verifying a taxpayer’s identity and will be required for tax filing in the future. What Is…
5 Things Gig Workers Must Be Aware of Regarding Their Earnings
Perpetuated by the COVID-19 pandemic in 2020, the number of “gig-workers” has increased dramatically. With this increase in the workforce taking on what were once considered side jobs, that were intended to simply supplement income by occasionally driving for Uber…
What You Need To Know About the IRS Changing Requirements on Partnerships
The Internal Revenue Service (IRS) has recently made a change in the way partnerships are evaluated for tax purposes. This comes in the wake of millions of partnership returns reportedly filed with a large errors that had previously been met…
How the CARES Affects Taking An Early 401(k) Withdraw
In the wake of the COVID-19 pandemic, amidst the layoffs and furloughs, many individuals have turned to withdrawing funds from their 401(k). Temporary changes to the rules under the CARES Act may give you more flexibility to make an emergency…
Is an Accountant or Bookkeeper Best for your Business?
If you are a business owner, you know that one of the key components to running your business successfully is having your finances in order. Your business’s financial data must be up to date and accurate so that you can…
The Difference Between Tax Planning and Tax Preparation
Come tax time most of us think that by hiring a professional to prepare our tax return that we will save the most amount of taxes. However, there is a way to save even more — through tax planning. A…
Save Thousands with Tax Planning
Many taxpayers feel that ever familiar feeling of dread come tax time knowing that they will be hit with a high tax bill. Instead of resting easy that you or your business has had a good year and your salary…
7 Ways The Paycheck Protection Program Affects Your Taxes
The Paycheck Protection Program PPP is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The PPP is intended to provide American small businesses with eight weeks of cash-flow assistance to cover payroll and other costs through forgivable,…
Why the Bank May Be the Worst Place for Your Extra Money
Most people grow up believing the bank is the safest place to keep their money. It feels secure. It feels responsible. It feels like the smart move. But here’s the problem: while your money may be physically safe in a…
Owe Taxes as an S-Corp Owner? Here’s What to Do
Did You Get Hit a Huge Tax Bill? Here’s What S-Corp Business Owners Can Do both Now and Next Year If your stomach dropped when you saw your tax bill… yeah, this article is for you. Let’s walk through three…
Is Real Estate Worth Buying in 2026?
Short answer? Yes, you should buy a home in 202, but not for the reasons most people think. Real estate is still worth it in 2026 because of powerful tax strategies like cost segregation, bonus depreciation, and real estate losses….
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…