Buy a Home in St Petersburg Florida

If You’ve Put Your Home on the Market, You Need to Know the Tax Consequences of a Sale

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Summer is a common time to put a home on the market. If you’re among those who are following this trend, it’s important to be aware of the tax consequences. If you’re selling your principal residence, you can exclude up to $250,000 ($500,000 for joint filers) of gain — as long as...
Tax Election on Restricted Stock Awards in Tampa

Consider the Sec. 83(b) Election to Save Tax on Restricted Stock Awards

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Restricted stock is stock that’s granted subject to a substantial risk of forfeiture. Income recognition is normally deferred until the stock is no longer subject to that risk or you sell it. You then pay taxes on the stock’s fair market value at your ordinary-income rate. But...
Tax deduction limits on meals and entertainment deductions.

Who’s Subject to the 50% Limit on Meal and Entertainment Deductions?

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In general, when meal and entertainment expenses are incurred in the context of an employer-employee or customer–independent contractor relationship, one party will be subject to a 50% limitation on the deduction. But which party? Last year, the IRS finalized regulations that...

Welcome to the new MBA Website

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Thank you for visiting McClanathan, Burg & Associates online. We worked hard to redesign and repurpose our website to better server our customers and educate people on the services we provide and the expertise we possess and put to work for our clientele. We’ve added a...

Helping Out During the Holidays

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At McClanathan, Burg & Associates, we are strong believers in giving back to the community that has been so supportive of our business over the years. Over the 2013 holiday season, our employees helped contribute to a number of community causes. The Resurrection House The...