Category Archives: Uncategorized

IRS Offers Options for Taxpayers Who Cannot Pay Their Bill

Posted on August 15, 2011 by Carol

From Carol McAtee’s CPA firm in St. Petersburg, FL –The IRS offers a few options if a taxpayer cannot pay the full amount of their tax liability for the year; either the option to pay it off over time or … Continue reading →

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Expanded Form 1099 Reporting Requirement Repealed

Posted on August 1, 2011 by Carol

From our CPA firm in St Petersburg, FL– After months of debate, Congress has repealed the expanded requirement that businesses report to the IRS all payments made in excess of $600 to vendors. The provision, originally enacted to fund the … Continue reading →

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Wild Weather: Protect your Financial Records

Posted on July 24, 2011 by Carol

From Carol McAtee’s CPA firm in St. Petersburg, FL – Hurricane Season is under way and now is the time to safeguard your tax records by taking these few simple steps. Create a Backup Set of Records Electronically: You should … Continue reading →

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Know How Your Tax Dollars are Spent

Posted on July 22, 2011 by Carol

From Carol McAtee’s CPA firm in St. Petersburg, FL –Do you ever wonder specifically where your tax dollars are spent? For the first time ever, American taxpayers can go online and see exactly how the government is spending the federal … Continue reading →

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CPA Firm: Using a Tax Professional Can Actually Save You Money

Posted on July 15, 2011 by Carol

From Carol McAtee’s CPA firm in St. Petersburg, FL – The Internal Revenue Service (IRS) reports that an increasing number of taxpayers are using software programs to prepare and file their own tax returns. However, the cost savings may not … Continue reading →

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Florida CPA Talks IRS Retirement Plan Limitations for 2011

Posted on July 14, 2011 by Carol

From Carol McAtee’s CPA firm in St. Petersburg, FL – Cost of living adjustments affecting the limitations of contributions to retirement related plans for the tax year 2011 have been announced by the IRS. In general, the inflation adjustments for … Continue reading →

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Summertime Financial Blues

Posted on June 27, 2011 by Carol

From Carol McAtee’s CPA firm in St. Petersburg, FL –Family vacations tend to dominate this time of year. Sometimes there is nothing more exciting (or more stressful?) as planning and packing for the long awaited summer getaway. Parents take kids … Continue reading →

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What New Business Owners Need to Know About Taxes

Posted on June 2, 2011 by Carol

From Carol McAtee’s CPA firm in St. Petersburg, FL –When starting a business, new owners need to know their federal and state tax responsibilities. Generally, the form of business entity chosen to operate will determine what taxes need to be … Continue reading →

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American Opportunity Tax Credit Offers Reduction in College Expenses

Posted on March 24, 2011 by Carol

From Carol McAtee’s CPA firm in St. Petersburg, FL – The American Opportunity Tax Credit (AOTC) was created in February 2009 as part of the American Recovery and Reinvestment Act. For the tax year 2010, taxpayers with tuition expenses can … Continue reading →

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S Corporation Owner Salaries Under Scrutiny

Posted on March 11, 2011 by Carol

From Carol McAtee’s CPA firm in St. Petersburg, FL –If you operate your business as an S Corporation and pay yourself a salary as an owner-employee, you need to be aware of the increased attention the IRS is giving to … Continue reading →

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