Author Archives: Carol

Reporting Virtual Currency Transactions: From The Offices of Carol McAtee & Associates, CPAs, St Petersburg, Florida

Posted on June 21, 2018 by Carol

Reporting Virtual Currency Transactions With the price of Bitcoin hitting record highs in 2017, many Bitcoin holders cashed out not realizing the impact it could have on their tax bill. Many people, for example, did not understand that it was … Continue reading →

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It’s Time for a Premium Tax Credit Checkup: From The Offices of Carol McAtee & Associates, CPAs, St Petersburg, Florida

Posted on November 13, 2017 by Carol

It’s Time for a Premium Tax Credit Checkup If you or anyone in your family receive advance payments of the premium tax credit, now is a good time to check on whether you need to adjust your premium assistance. Because … Continue reading →

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What you need to know about the Equifax Data Breach: From The Offices Of Carol McAtee & Associates, CPAs, St Petersburg, Florida

Posted on October 25, 2017 by Carol

What you need to know about the Equifax Data Breach Background: What is Equifax? Equifax is one of three major U.S. credit reporting bureaus. The other two are TransUnion and Experian. There is also a smaller, less well-known credit-reporting agency … Continue reading →

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Business Entertainment Expenses: From The Offices Of Carol McAtee & Associates, CPAs, St Petersburg, Florida

Posted on August 15, 2017 by Carol

Business Entertainment Expenses As a business owner, you are entitled to deduct certain expenses on your tax return such as those relating to entertaining clients. Entertainment is considered any activity that provides entertainment, amusement, or recreation. It may also include … Continue reading →

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Identity Theft: What to Watch out for and What to do: UPDATE FROM THE OFFICES OF CAROL McATEE & ASSOCIATES, CPAS, St Petersburg, Florida

Posted on August 9, 2017 by Carol

Identity Theft: What to Watch out for and What to do Tax-related identity theft typically occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. Anyone can fall victim to identity theft. … Continue reading →

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Tax Tips for Those Affected By Natural Disasters: UPDATE FROM THE OFFICES OF CAROL McATEE & ASSOCIATES, CPAS, St Petersburg, Florida

Posted on August 2, 2017 by Carol

Tax Tips for Those Affected By Natural Disasters Every year, hurricanes, tornadoes, floods, wildfires, and other natural disasters affect people throughout the US. The bad news is that recovery efforts after natural disasters can be costly. For instance, when hurricanes … Continue reading →

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Tax Breaks for Hiring New Employees: Update From The Office Of Carol McAtee & Associates, CPAs, St Petersburg, Florida

Posted on July 26, 2017 by Carol

Tax Breaks for Hiring New Employees If you’re thinking about hiring new employees this year, you won’t want to miss out on these tax breaks. 1. Work Opportunity Credit The Work Opportunity Tax Credit (WOTC) is a federal tax credit … Continue reading →

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Tax Implications of Crowdfunding: UPDATE FROM THE OFFICES OF CAROL McATEE & ASSOCIATES, CPAS, St Petersburg, Florida

Posted on July 19, 2017 by Carol

Tax Implications of Crowdfunding Crowdfunding websites such as Kickstarter, GoFundMe, Indiegogo, and Lending Club have become increasingly popular for both individual fundraising and small business owners looking for start-up capital or funding for creative ventures. The upside is that it’s … Continue reading →

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Minimizing Tax on Mutual Fund Activities: UPDATE FROM THE OFFICES OF CAROL McATEE & ASSOCIATES, CPAS, St Petersburg, Florida

Posted on July 12, 2017 by Carol

Minimizing Tax on Mutual Fund Activities Tax law generally treats mutual fund shareholders as if they directly owned a proportionate share of the fund’s portfolio of securities and you must report as income any mutual fund distributions, whether or not … Continue reading →

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Hobby or Business? Why It Matters: UPDATE FROM THE OFFICES OF CAROL McATEE & ASSOCIATES, CPAS, St Petersburg, Florida

Posted on July 5, 2017 by Carol

Hobby or Business? Why It Matters Millions of Americans have hobbies such as sewing, woodworking, fishing, gardening, stamp and coin collecting, but when that hobby starts to turn a profit, it might just be considered a business by the IRS. … Continue reading →

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