A form 1099-K is issued by third-party networks, such as PayPal, Venmo, Ebay, Square, etc.  For 2024, they will issue form 1099-K if the...

The 2017 Tax Cuts and Jobs Act kept the individual AMT (Alternative Minimum Tax) on the books, but it reduced its impact until the end of...

The Medicare Part B monthly premium will rise to $185 for 2025.  However, upper-income seniors have to pay even higher Part B and D...

A Qualified Charitable Distribution is when you have an IRA distribution paid directly to a charity.  IRA owners who are 70 ½ and older...

No, this is not a scam.  There is a class action settlement for all businesses that accepted debit and credit cards at any time between...

Assuming Trump is installed as president, we can expect to see a shift to the right.  The Republicans will have the White House and both...

Here is a link to the IRS announcement:   https://www.irs.gov/newsroom/irs-announces-special-payments-going-this-month-to-1-million-taxpa...

On Monday, December 23, 2024, the 5th Circuit Court of Appeals has granted the government’s emergency motion to stay the Texas court’s...

It depends. Yes, you can take a deduction for damages due to a natural disaster that has been declared a federal disaster. This is...

For those who timely filed a 2023 tax extension, your extension has been extended again. For taxpayers whose address, or whose tax...

The 2024 COLA increase was 3.2%. The newly released Social Security COLA (Cost of Living Adjustment) increase for 2025 is 2.5%. This...

Normally, life insurance death benefit is not taxable. If you cash in a cash value policy, then any amount above premiums paid in will be...

This is a requirement brand new for 2024. This report is separate from the FL Sunbiz annual report filing. The Business Ownership...

This is a requirement brand new for 2024. This report is distinctly separate from the FL Sunbiz annual report filing. The Business...

We have all probably known, or have at least heard of a business owner dying and having no succession plan in place. Oftentimes, even...

This topic recently came up with a client. This is the law that requires the buyer of a US property that is sold by a foreigner to...

Confession time for Shawn, here. My wife and I purchased a used timeshare back in 2001 or so for $3,000. The original price was around...

We’ve got answers.  If you have any questions, or need to discuss a tax situation for this year or next, then please contact us.  We can...

Eligible designated beneficiaries (surviving spouse, minor children, chronically ill or disabled, and people no more than 10 years...

We get this question somewhat frequently.  The answer is no.  For a married joint (MFJ) tax return, the IRS sends all letters to both...