Category Archives: Uncategorized

From Carol McAtee’s CPA firm in St. Petersburg, FL- The IRS is giving taxpayers two extra days to get their taxes done this year. The deadline for filing personal Form 1040 tax returns is usually April 15, however the IRS … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- The end of the year is near, but there is still time to consider the following items to save money on taxes or help make things easier in the new year. … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- Every year millions of taxpayers overpay their income taxes by overlooking some of the money saving deductions listed below. State sales tax. If a taxpayer itemizes, they have the choice of … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL– IRS statistics show that an increasing number of taxpayers are using software programs to prepare and file their own returns. However, the cost savings may not be worth it. Given the … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL–Now that your 1040 has been filed, the question is: will the IRS come a-calling? Audit letters typically go out 18 months after the filing date of the return. Listed below, are … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL– If you are a taxpayer that works for someone else (other than yourself), you may be able to deduct certain work related expenses you have paid out-of-pocket. However, the rules for … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL– The IRS allows taxpayers to file an amended tax return to correct their filing status, their income, or to add deductions or credits that might have been missed on the return … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL –In response to higher gasoline prices, the IRS has raised the standard mileage rates for deductable use of an automobile, effective July 1, 2011. The rate increase is 4.5 cents per … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL –Usually, income derived from self-employment, interest, dividends, alimony, rental property, and from gains on the sale of assets is not subject to withholding, and taxpayers receiving these types of income may … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL – On August 2, the Budget Control Act was signed into law. The new law raises the debt limit to avoid a projected default by the government, and creates a bipartisan … Continue reading →