by cpaofmiami | Jan 5, 2015 | Uncategorized
As part of the Affordable Care Act (ACT), the floor for deducting medical expenses has been raised from expenses exceeding 7.5% of Adjusted Gross Income (AGI) to 10% of AGI. Health insurers or employers will have to provide individuals annually with...
by cpaofmiami | Jan 5, 2015 | International Taxes - Expat Tax Compliance, IRS Tax Problem Resolution - Back Taxes, Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
If you are exaggerating your business expenses, this increases your risk of getting audited by the IRS. The IRS measures typical amounts of expenses by your type of business, and a tax return showing 20 percent or more above the norm increases your risk of getting...
by cpaofmiami | Dec 29, 2014 | International Taxes - Expat Tax Compliance, Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
It’s one thing to have a business that occasionally loses money, particularly in economic downturns. However, having a business or two that loses money every year for a sustained period of time is an invitation for a tax audit. If your small business fails to...
by cpaofmiami | Dec 19, 2014 | International Taxes - Expat Tax Compliance, IRS Tax Problem Resolution - Back Taxes, Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
For the average person, there’s nothing more terrifying than the thought of getting an IRS audit. It ranks right up there with fears of dentists, flying, and fear of heights. Goodwill donations are great. So are donations to a non-profit. They are made for a...
by cpaofmiami | Dec 17, 2014 | Miami CPA Accounting, QuickBooks Accounting - Bookkeeping
If you are considering starting a new business or making a substantial investment in a new business, the choices you make at the planning stage can have profound tax consequences to you throughout the life of your business or investment. Canner Brody and Yan CPAs can...
