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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),...
Deducting Start-up Expenses for a Rental Property

Deducting Start-up Expenses for a Rental Property

Tags: CPA Sarasota, QuickBooks Bookkeeping, real estate taxes, Tax Planning Are you interested in becoming a commercial or residential landlord? If so, you’ll likely have to shell out plenty of money before ever collecting a dime in rent. The tax code treats some of...