Corporation in St Petersburg Florida

Should you convert from a C corporation to an S corporation?

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Many private business owners elect to incorporate, turning their companies into C corporations. But, at some point, you may consider converting to an S corporation. This isn’t necessarily a bad idea, but it’s important to know the ramifications involved. Similarities and...
Health Care in St Petersburg Florida

Understanding the differences between health care accounts

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Health care costs continue to be in the news and on everyone’s mind. As a result, tax-friendly ways to pay for these expenses are very much in play for many people. The three primary players, so to speak, are Health Savings Accounts (HSAs), Flexible Spending Arrangements (FSAs)...
Disaster Planning in St Petersburg Florida

5 keys to disaster planning for individuals

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Disaster planning is usually associated with businesses. But individuals need to prepare for worst-case scenarios, as well. Unfortunately, the topic can seem a little overwhelming. To help simplify matters, here are five keys to disaster planning that everyone should consider:...
Like-Kind Exchanges in St Petersburg Florida

Real Estate Investors: Let’s Talk about Like-Kind Exchanges

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Are you thinking about divesting a real estate investment and then replacing it with another property? If you sell appreciated property outright, you’ll incur a taxable gain, which lowers the amount available to spend on the replacement property. But you may be able to...
Tax Breaks in St Petersburg Florida

Will Congress revive expired tax breaks?

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Most of the talk about possible tax legislation this year has focused on either wide-sweeping tax reform or taxes that are part of the Affordable Care Act. But there are a few other potential tax developments for individuals to keep an eye on. Back in December of 2015, Congress...
Revenue Recognition in St Petersburg Florida

Revenue Recognition for Contracts: Changes Coming Soon

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Revenue is the top line of your company’s income statement. So, it tends to receive a lot of attention from investors, lenders and other stakeholders. Why? Changes in revenue can tell whether your company is growing or declining. Moreover, changes in the composition of...
ID Theft in St Petersburg Florida

Business ID Theft: Is Your Data at Risk?

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The IRS and state tax authorities have made significant strides in curbing individual identity theft over the last two years.  But cyber attacks against businesses are on the upswing. Here are some simple ways business taxpayers can help protect their data from hackers. Trends in...
Employees in St Petersburg Florida

Which Employees or Positions Do You Rely on Most?

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It’s standard operating procedure for marketers to segment customers according to their value to the organization, to ensure that those who are most vital to the growth and profitability of a company are well-cared-for and don’t disappear. The same needs to be done...
Theft Losses in St Petersburg Florida

Casualty and Theft Losses: Find the Silver Lining in Dark Clouds

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We’re in the midst of hurricane season now, but the eastern and southern shores aren’t the only parts of the country at risk for catastrophic events. Mudslides, earthquakes and wildfires often plague the West Coast, tornadoes may touch down across the Great Plains and...
Strategies in St Petersburg Florida

3 midyear tax planning strategies for individuals

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In the quest to reduce your tax bill, year end planning can only go so far. Tax-saving strategies take time to implement, so review your options now. Here are three strategies that can be more effective if you begin executing them midyear: 1. Consider your bracket The top income...