Policy Brief in St Petersburg Florida

Republicans’ Policy Brief Explains Repeal-and-Replace Plan

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As everyone in America knows by now, President Trump and Republicans in Congress have vowed to repeal and replace the Affordable Care Act (ACA). In its place, they plan to introduce a more market-based system of health coverage. One question many people have: How will the...
Sexual Orientation in St Petersburg Florida

EEOC Prioritizes Sexual Orientation Discrimination Claims

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Every year the Equal Employment Opportunity Commission (EEOC) releases detailed data on the number of discrimination cases received and the disposition of those cases. For the first time, in a recent release of stats from its 2016 fiscal year, it included LGBT-based sex...
Mileage in St Petersburg Florida

Deduct all of the mileage you’re entitled to — but not more

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Rather than keeping track of the actual cost of operating a vehicle, employees and self-employed taxpayers can use a standard mileage rate to compute their deduction related to using a vehicle for business. But you might also be able to deduct miles driven for other purposes,...
Inventory in St Petersburg Florida

Reviewing your company’s inventory options for best results

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Robust cash flow is a must for virtually every kind of business. Yet an improperly or inadequately managed inventory system can drag down your revenues. It’s a good idea to regularly review your approach to inventory accounting. Reconsider your approach Generally, there are two...
Kiddie Tax in St Petersburg Florida

Beware of the “kiddie tax” trap

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Making gifts to children and grandchildren is a strategy sometimes used to reduce taxes. Doing so may shift some of your income into a lower tax bracket and remove assets from your taxable estate. But if you employ this strategy, beware of a hidden tax sometimes called t...
Real Estate Expenses in St Petersburg Florida

Consider Section 179 Deductions for Real Estate Expenses

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The Section 179 deduction for qualified real property expenses was made permanent under the Protecting Americans from Tax Hikes (PATH) Act of 2015. However, claiming this deduction isn’t a no-brainer. Here are the pros and cons. Deductions for Qualified Real Property Costs...
Separation Agreement in St Petersburg Florida

A Separation Agreement May Provide Peace of Mind

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Having an employee sign a separation agreement upon ending the employment relationship amounts to a form of insurance that he or she will not later take legal action against your company, based on the termination. Whether a separation was friendly (for example, due only to a...
Your Debt in St Petersburg Florida

4 myths about managing your debt

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Debt is a reality for many Americans. Median household debt was estimated at $2,300 as of May 2016, according to consumer information provider ValuePenguin. And debt isn’t limited to those earning lower incomes; households with a net worth of $500,000 and over had an estimated...
Gift Tax in St Petersburg Florida

Do you need to file a 2016 gift tax return by April 18?

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Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate planning strategy. Or perhaps you just wanted to provide loved ones with some helpful financial support. Regardless of the reason for making a gift, it’s important...
Self-employment in St Petersburg Florida

Facing the tax challenges of self-employment

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Today’s technology makes self-employment easier than ever. But if you work for yourself, you’ll face some distinctive challenges when it comes to your taxes. Here are some important steps to take: Learn your liability. Self-employed individuals are liable for self-employment tax,...