Divorce in St Petersburg Florida

Tax Planning for a Home in a Divorce

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Selling in the Year of Divorce or Later When a couple is divorced as of the end of the year their principal residence is sold, the tax law considers them divorced for the entire year. Therefore, they are unable to file jointly for the year of sale. Of course, the same is true...
Discrimination in St Petersburg Florida

Reduce Your Risk of Committing Employment Discrimination

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Whether a claim is unfounded or not isn’t apparent until it’s investigated, of course. But if statistics from the Equal Employment Opportunity Commission (EEOC) provide any insight, it’s worth noting that retaliation claims — the most common form of complaint —...
Supreme Court in St Petersburg Florida

5 Recent Supreme Court Decisions that Could Affect Your Business

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At the end of June, the U.S. Supreme Court adjourned for its summer recess. Here are five recent cases from its 2016 term that may be of interest to business owners and managers. 1. Advocate Health Care Network v. Stapleton (S. Ct. No. 16-74, June 5, 2017) Under the Employee...
Vacation in St Petersburg Florida

Is Your Company’s Vacation and Holiday Policy Working as Planned?

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Presumably you have a holiday and vacation policy already in place. But what if it’s not working well for your company or your employees? For example, if it’s vague, you may have to make decisions on the spot when an employee asks for days off at a time that is...
Minimis Fringe Benefit in St Petersburg Florida

Hockey Team’s Meals at Away Games Were a De Minimis Fringe Benefit

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The U.S. Tax Court recently ruled that the Boston Bruins hockey team’s pregame meals to players and personnel at out-of-town hotels qualified as a de minimis fringe benefit under the Internal Revenue Code. Therefore, 100% of the cost of those meals could be deducted — it...
Business in St Petersburg Florida

3 midyear tax planning strategies for business

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Tax reform has been a major topic of discussion in Washington, but it’s still unclear exactly what such legislation will include and whether it will be signed into law this year. However, the last major tax legislation that was signed into law — back in December of 2015 — still...
Gambling in St Petersburg Florida

Know your tax hand when it comes to gambling

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A royal flush can be quite a rush. But the IRS casts a wide net when defining gambling income. It includes winnings from casinos, horse races, lotteries and raffles, as well as any cash or prizes (appraised at fair market value) from contests. If you participate in any of these...
Acquisition in St Petersburg Florida

Why you should (or shouldn’t) pursue an acquisition

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Like so many aspects of the national and global economies, merger and acquisition (M&A) activity tends to wax and wane. Nonetheless, billions of dollars continue to change hands annually, and an acquisition can be a great way to grow a business. So if one of these deals comes...
Amending in St Petersburg Florida

Know the Rules for Amending a Federal Income Tax Return

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What should you do if you discover an error on a previously filed individual tax return? For example, you might have missed some tax-saving deductions and credits on your 2016 personal federal income tax return that you filed in February. Or you might have recently discovered...
Vacation Home in St Petersburg Florida

Own a vacation home? Adjusting rental vs. personal use might save taxes

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Now that we’ve hit midsummer, if you own a vacation home that you both rent out and use personally, it’s a good time to review the potential tax consequences: If you rent it out for less than 15 days: You don’t have to report the income. But expenses associated with the rental...