Category Archives: Uncategorized

As everyone knows, this Election year is more important than ever. No matter what your party affiliation, it is very important to voice your opinion with your VOTE. The General Election is Tuesday, November 6, 2012. If you have not … Continue reading →

From our CPA office in St. Petersburg, FL – The tax rules regarding income received from renting a second home can be complicated, especially if you rent the home for several months of the year and also use the home … Continue reading →

From our CPA office in St. Petersburg, FL – In recent years, electronic filing and payment options have increased the timeliness and accuracy of tax returns and reduced the burden on taxpayers. However, the law provides that the IRS can … Continue reading →

From our CPA office in St. Petersburg, FL – In July 2012, the Supreme Court voted to uphold the new health care legislation, commonly known as the “Affordable Care Act” (ACA) or “Health Care Act.” The new health care law … Continue reading →

From our CPA office in St. Petersburg, FL – If your child is a student and works a summer job or part-time jobs during the school year, then the following should be noted: 1. All taxpayers complete a W-4 when … Continue reading →

From our CPA office in St. Petersburg, FL – The recent tax court ruling in the case Wandry v. Commissioner will increase the ease and certainty of tax free ownership transfers of closely held businesses from one generation to the … Continue reading →

From our CPA office in St. Petersburg, FL – Beginning in 2012, taxpayers may receive a rebate on amounts spent for health insurance. Under the new health care law, health insurers who do not meet the new requirements for medical … Continue reading →

From our CPA office in St. Petersburg, FL – One in eight people earning at least $1 million annually was audited by the Internal Revenue Service last year, a much higher rate than for individuals earning less than $200,000 where … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- Our final tip for FIling Amended Returns: 8. If you owe additional 2011 tax, file Form 1040X and pay the tax before the due date to limit interest and penalty charges … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- 7. If you are filing to claim an additional refund, wait until you have received your original refund before filing Form 1040X. You may cash that check while waiting for any … Continue reading →