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Best of SRQ Local
Key Insights into Depreciation

Key Insights into Depreciation

Sep 25, 2023 | Income Tax

Tags: real estate taxes, Sarasota CPA, Sarasota Quickbooks, Tax Planning Here are some key insights into depreciation, particularly regarding business or rental assets. When Does Depreciation Start? Technically, depreciation begins not when you use an asset but when...
HSAs For Business Owners

HSAs For Business Owners

Sep 22, 2023 | Income Tax

Tags: Health Insurance, QuickBooks Bookkeeping, Sarasota CPA, Tax Planning When enacted, the Affordable Care Act (ACA) eliminated most small-business health plans that reimbursed individually purchased health insurance. Consequently, many small business owners with...
Act Now! Get Your Safe-Harbor Expensing in Place

Act Now! Get Your Safe-Harbor Expensing in Place

Sep 21, 2023 | Income Tax

Tags: CPA Sarasota, QuickBooks Bookkeeping, Sarasota Accounting, Tax Planning For 2024, you can elect the de minimis safe harbor to expense assets costing $2,500 or less ($5,000 with audited financial statements or similar). The term “safe-harbor” means that the IRS...
Update on State Pass-Through Entity Taxes Beating the SALT

Update on State Pass-Through Entity Taxes Beating the SALT

Aug 25, 2023 | Income Tax

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,...
Key Insights on the ICHRA for Small Businesses

Key Insights on the ICHRA for Small Businesses

Aug 23, 2023 | Income Tax

Tags: CPA Sarasota, Health Insurance, QuickBooks Bookkeeping, Tax Planning If you are thinking about offering your employees the new ICHRA, take a moment to read the insights below. Class size rule You face the class size rule only if you offer a traditional group...