Sarasota CPA: Eight Quick Reminders About the SECURE Act

Sarasota CPA: Eight Quick Reminders About the SECURE Act

Mar 16, 2020 | Income Tax

The Setting Every Community Up for Retirement Enhancement (SECURE) Act changed the landscape for retirement and savings planning.  Don’t hesitate to reach out to us, your Sarasota CPA, with any questions. Here are eight important reminders about this new law:...
Divorce-Related Tax Issues for Small-Business Owners

Divorce-Related Tax Issues for Small-Business Owners

Feb 6, 2020 | Income Tax

As with all financial transactions, divorce comes with tax consequences. And those consequences have changed for tax years 2018 and later thanks to the Tax Cuts and Jobs Act (TCJA). General Rule The general tax rule in a divorce is that you can divide up most assets,...
Does No 1099 Mean No Deduction for You?

Does No 1099 Mean No Deduction for You?

Feb 3, 2020 | Income Tax

Imagine this: you didn’t issue Form 1099s to your contractors. Now, the IRS is auditing your tax return, and the auditor claims you lose your deductions because you didn’t issue the Form 1099s. Is this correct? No. IRS auditors often make this claim, but they are...
Does No 1099 Mean No Deduction for You?

Buy-Sell Agreements

Jan 30, 2020 | Income Tax

Buy-Sell Agreements Buy-sell agreements are usually part of a succession plan put in place to protect the financial interests of the owners of closely held companies and their heirs and to protect the company’s stability in case of a major event. Funding buy-sell...