Category Archives: Uncategorized

Households can take advantage of Florida’s annual average of 237 sunny days by installing solar panels on their homes. Florida ranks 6th in the country for solar use. What is a clean energy tax credit? The Residential Clean Energy Credit … Continue reading →

Real estate, in the form of the home you live in, is one of the most common investments that people make. Like any other investment, when a home is sold, you may be liable for tax on any profit made. … Continue reading →

An Accountable Plan is an arrangement for reimbursing employees for work-related costs in a way that meets IRS requirements and allows the reimbursed amounts to be treated as nontaxable income. Without an accountable plan, reimbursement for employee expenses is considered … Continue reading →

The number of employees working from home grew considerably during the COVID-19 pandemic. While many companies are now requiring workers to spend time in the office, significant numbers are still working remotely at least part of the time. Estimates of … Continue reading →

Every year during tax preparation season, the Internal Revenue Service issues its annual list of tax scams, called The Dirty Dozen – representing the common scams that taxpayers may encounter. These scams can happen anytime but especially peak during filing … Continue reading →

Businesses have the option of paying a worker as a regular employee through Form W-2 (Wage and Tax Statement) or an independent contractor through Form 1099 NEC (Non-Employee Compensation). There are rules regarding each option and possible legal repercussions for … Continue reading →

Traditional Individual Retirement Accounts (IRAs) and other retirement plans are “tax-deferred plans,” meaning you don’t pay taxes on your account contributions or earnings until you take withdrawals. Because the IRS wants to start collecting those taxes sooner rather than later, … Continue reading →

Although they sound similar, “tax avoidance” and “tax evasion” are completely different. Tax avoidance lowers your tax bill by structuring your transactions so you realize the largest tax benefits – in a completely legal way. Tax evasion, on the other … Continue reading →

Even before a business is off the ground, expenses are often incurred, from prospecting and market research to travel and interviewing prospective employees. Essentially, you are spending money before you have the opportunity to make money. Fortunately, some startup costs … Continue reading →

Many families see the annual tax refund check as a windfall that will finance a family vacation or to catch up on bills. Unfortunately, that may not be as true in 2022 and going forward. Several tax credits offered on … Continue reading →