Tax Day in St Petersburg Florida

Happy Tax Day!

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Happy Tax Day!
Immigration in St Petersburg Florida

Where Running Your Business and the Immigration Debate Could Collide

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E-Verify’s purpose is simple: that is, to give you an easy way to find out whether the information job applicants and employees record on their I-9 forms is consistent with Social Security Administration records. It emerged early in the last decade after a series of...
Records in St Petersburg Florida

Tax Paperwork and Other Records: What to Keep, What to Toss

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E-filing is on the upswing. According to the Data Book released by the IRS on March 24, the agency collected almost $3.1 trillion in federal revenue and processed almost 240 million returns during fiscal year 2014. About 65 percent of all returns were filed electronically. Of the...
NOL in St Petersburg Florida

A net operating loss (NOL) on your 2014 tax return isn’t all bad news

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When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs (though of course the specific rules are more complex). If when filing your 2014 income tax return you’ve found that your business had an NOL, there is an upside: tax benefits....
Farming Businesses in St Petersburg Florida

Farming Businesses: Nine Tips from the IRS to Help with Taxes

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Farming businesses encompass a wide range of operations. All individuals, partnerships, or corporations that cultivate, operate, or manage farms for profit, either as owners or tenants, are designated as farmers. The term “farm” includes livestock, dairy, poultry,...
Reasonable in St Petersburg Florida

Paying Yourself Too Much? Too Little? Be Ready for an IRS Challenge — What is Reasonable?

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It is generally more tax-efficient to be paid a salary than to receive dividends, given that salary expense is deductible and dividends are paid on an after-tax basis. If the IRS thinks some portion of your salary really should be treated as a distribution of profit, that portion...
Millennials in St Petersburg Florida

How to Tap into the Millennials Market

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With a population of about 76 million people, the “Millennial” generation is expected to soon overtake Baby Boomers as the largest living generation in the United States. In 2015, Millennial consumers will spend an estimated $2.45 trillion worldwide, according to a...
Personal Tax Return in St Petersburg Florida

Last-Minute Personal Tax Return Filing Reminders

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Have you filed you 2014 tax return (or an extension) yet? The due date for filing your personal tax return (or an extension) is Wednesday, April 15. Small business owners, self-employed individuals and anyone who owes the IRS money may wait until the last minute to file. But...
Paper Return in St Petersburg Florida

Still filing a paper return? Be sure you understand the “timely mailed = timely filed” rule

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The IRS considers a paper return that’s due April 15 to be timely filed if it’s postmarked by midnight on April 15. But dropping your return in a mailbox on the 15th may not be sufficient. For example, let’s say you mail your return with a payment on April 15, but the envelope...
Business Valuation in St Petersburg Florida

External Factors in a Business Valuation

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Do you know what your business is worth right now? Practically speaking, it is worth what the highest bidder is willing to pay for it — no more or no less. Nevertheless, by taking all the relevant factors into account, you can position yourself for the best possible deal....