An S corporation is a small, closely held corporation that essentially operates as a pass-through system in which any income and losses pass through the business owner’s personal tax returns. One of the biggest benefits — and often reason why…
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…
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…
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…
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…
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…
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…
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…
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…
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…