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Beat the Net Investment Income Tax

Beat the Net Investment Income Tax

Tags: Income Tax, Sarasota CPA, Sarasota Quickbooks, Tax Planning Here is some important information regarding the net investment income tax (NIIT), which may be relevant to your financial situation. NIIT Overview The NIIT is a 3.8 percent tax that could apply if your...
New FinCEN Filings Go into Effect on January 1

New FinCEN Filings Go into Effect on January 1

Tags: Income Tax, QuickBooks Bookkeeping, Sarasota CPA, Tax Planning For existing businesses, the Corporate Transparency Act (CTA) goes into effect on January 1, 2024, and imposes a brand-new federal filing requirement on most corporations, limited liability...
Last-Minute Section 199A Tax Reduction Strategies

Last-Minute Section 199A Tax Reduction Strategies

Tags: CPA Sarasota, Income Tax, QuickBooks Bookkeeping, Tax Planning Remember to consider your Section 199A deduction in your year-end tax planning. If you don’t, you could end up with an undesirable $0 for your deduction amount. Here are three possible year-end moves...
Update on State Pass-Through Entity Taxes Beating the SALT

Update on State Pass-Through Entity Taxes Beating the SALT

Tags: CPA Sarasota, Income Tax, QuickBooks Bookkeeping, Tax Planning Here are some critical updates on the pass-through entity tax (PTET), which has recently become the rule in most states rather than the exception. The PTET enables owners of pass-through businesses,...