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The IRS Annual Dirty Dozen List

The IRS Annual Dirty Dozen List

Tags: QuickBooks Bookkeeping, Sarasota CPA, Sarasota IRS Problems, Tax Planning Have you heard about the enormous tax savings you can reap by investing in a Maltese individual retirement arrangement or utilizing Puerto Rican captive insurance for your business? Before...
Estimated Tax Penalties

Estimated Tax Penalties

Tags: QuickBooks Bookkeeping, Sarasota Accounting, Sarasota CPA, Tax Planning The United States has a “pay as you go” tax system in which payments for income tax (and, where applicable, Social Security and Medicare taxes) must be made to the IRS throughout the year as...
Do You Qualify as a Tax Law–Defined Professional Gambler?

Do You Qualify as a Tax Law–Defined Professional Gambler?

Tags: CPA Sarasota, QuickBooks Bookkeeping, Sarasota Accounting, Tax Planning When it comes to taxes, the tax code treats professional gamblers better than recreational gamblers. Unlike recreational gamblers, professionals get to deduct all their gambling expenses...
New 1099-K Filing Rules Delayed Again

New 1099-K Filing Rules Delayed Again

Tags: CPA Sarasota, QuickBooks Bookkeeping, Sarasota Tax Accountant, Tax Planning Do you sell goods or services and receive payment through a third-party settlement organization (TPSO)? if so, you must know the IRS’s new Form 1099-K reporting rules. TPSOs include:...
Corporate Transparency Act Requires BOI Reporting to FinCEN

Corporate Transparency Act Requires BOI Reporting to FinCEN

Tags: CPA Sarasota, QuickBooks Bookkeeping, Sarasota Accounting, Tax Planning The Corporate Transparency Act (CTA) is upon us. It took effect on January 1, 2024, and imposes a new federal filing requirement for most corporations, limited liability companies (LLCs),...