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Blog Posts

The Principal Residence Gain Exclusion Break

The Principal Residence Gain Exclusion Break

The $250,000 ($500,000, if married) home sale gain exclusion break is one of the great tax-saving opportunities. Unmarried homeowners can potentially exclude gains up to $250,000, and married homeowners can potentially exclude up to $500,000....

Understanding the Role of CFO: A Basic Guide

Understanding the Role of CFO: A Basic Guide

Tags: Outsourced Bookkeeping Services, Fractional CFO, Virtual Accounting Services, Outsourced CFO, Sarasota Tax Problems Did you know that one of the main reasons businesses fail is due to a lack of funding or working capital? In many cases, this isn't a...

Don’t Make a Big Mistake by Filing Your Tax Return Late

Don’t Make a Big Mistake by Filing Your Tax Return Late

Three bad things happen when you file your tax return late. What’s Late? You can extend your tax return and file during the period of extension; that’s not a late-filed return. The late-filed return is filed after the last extension expired....

Don’t Miss Out on the Employee Retention Credit

Don’t Miss Out on the Employee Retention Credit

It’s hard to imagine that a small business does not qualify for some or all of the employee retention credit (ERC). And remember, this is a tax credit—one of the very best things that tax law has to offer. True, it’s not as valuable as some...

A Guide to Working With a Virtual CFO During the Pandemic

A Guide to Working With a Virtual CFO During the Pandemic

Tags: Outsourced Bookkeeping Services, Fractional CFO, Virtual Accounting Services, Outsourced CFO, Sarasota Tax ProblemsHiring any employee involves taking on a lot of responsibility, but a Chief Financial Officer (CFO) can also be an expensive position...

Garage Space as a Home Office

Garage Space as a Home Office

Do you claim a tax deduction for a home office? Should you include or exclude your garage space in your calculations of business-use percentage? Ronald Culp earned an office deduction for 78 percent of his home. That’s a nice percentage, but...

5 Ways Controller Services Keep Your Business Running Smoothly

5 Ways Controller Services Keep Your Business Running Smoothly

Tags: Sarasota Tax Planning, Sarasota Tax Preparation, Sarasota CPA, Sarasota Accountant, Sarasota Tax Resolution Services Did you know that outsource service spending is around $131 billion per year? Many companies are realizing the flexibility and cost...

Find the Winning Tax Law for Your IRS Audit

Find the Winning Tax Law for Your IRS Audit

If you are suffering or about to suffer an IRS audit, you should know how your tax positions stack up against the IRS examiners’ positions. In most cases, you are discussing the facts, not the law, and you prove your facts with receipts,...

5 Bookkeeping Service Secrets Every Business Owner Should Know

5 Bookkeeping Service Secrets Every Business Owner Should Know

Tags: Sarasota Tax Planning, Sarasota Tax Preparation, Sarasota CPA, Sarasota Accountant, Sarasota Tax Resolution Services Have you ever wondered about the secrets of the best bookkeeping services? Bookkeepers save their clients time, money, and headaches....

2 Ways to Fix Tax Return Mistakes Before the IRS Discovers Them

2 Ways to Fix Tax Return Mistakes Before the IRS Discovers Them

If you made an error on your tax return, don’t worry—there are two easy ways to fix it: 1. A superseding return 2. A qualified amended return A superseding return is an amended or corrected return filed on or before the original or extended due...

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