by cpaofmiami | Mar 12, 2015 | Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
The Miami Dolphins officially signed Ndamukong Suh to a $114 million contract. The interesting thing is that they were competing with two NFL teams that have hefty state income taxes, California and Michigan. California would have taxed 13.3% of Suh’s income. ...
by cpaofmiami | Mar 9, 2015 | Condominium and Homeowner Audits - Real Estate Accounting, Miami CPA Accounting
The Mayor of Miami-Dade is now pushing to build the largest mall in America in a flood prone area of Miami-Dade County. The development would cost as much as $4 billion to construct and eventually employ 25,000 people. The developer owns Mall of America in...
by cpaofmiami | Mar 2, 2015 | Condominium and Homeowner Audits - Real Estate Accounting, International Taxes - Expat Tax Compliance, Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
As many of us are tempted by property ownership outside of the United States, the question about tax treatment of real estate owned overseas often comes up. Whether the property is a vacation home or rental property, the tax benefits are similar to owning a home. ...
by cpaofmiami | Feb 27, 2015 | International Taxes - Expat Tax Compliance, IRS Tax Problem Resolution - Back Taxes, Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
As of February 20th, the IRS is reporting that the average refund is $3,120. At this point the IRS agency have processed about 50 million tax returns and 83% have qualified for a refund. We have offices in Downtown Miami on Brickell Avenue and Miami Lakes. Call us...
by cpaofmiami | Feb 27, 2015 | International Taxes - Expat Tax Compliance, IRS Tax Problem Resolution - Back Taxes, Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
Even Robert De Niro gets hounded by the IRS for back taxes… Fox News and The Smoking Gun are reporting that Robert De Niro owed over $6.4M from his 2013 tax filing. The federal lien of $6,410,449.20 was to be placed against his condo in Tribeca. Apparently,...
by cpaofmiami | Feb 27, 2015 | International Taxes - Expat Tax Compliance, IRS Tax Problem Resolution - Back Taxes, Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
Here are a few of the reasons why most people in Miami hire a Certified Public Accountant to file their tax returns. 1. Hours to prepare your taxes – In 2013, the IRS estimated that United States taxpayers (on average) spent 16 hours to prepare a simple tax...
by cpaofmiami | Feb 24, 2015 | International Taxes - Expat Tax Compliance, Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
The state with the highest upper range on taxes is California. For high net worth individuals in California, they tax individuals up to 12.3%. Ouch! In Florida, there are no state taxes so that’s why many wealthy individuals seek to obtain residency in the...
by cpaofmiami | Feb 18, 2015 | Condominium and Homeowner Audits - Real Estate Accounting, Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
When a large portion of your wealth is closely tied to the whims of South Florida’s real estate market, it’s important to have a CPA Firm with additional expertise in real estate accounting and tax services. Often, that additional expertise can make the...
by cpaofmiami | Feb 17, 2015 | Miami CPA Accounting, QuickBooks Accounting - Bookkeeping, Tax Compliance - High Net Worth Individuals
As a small business owner, it’s tough to keep so many balls up in the air. However, we sometimes cut an expense that ends up costing us much more. In other words, we are penny wise and pound foolish. In the case of small business accounting and tax matters, small...
by cpaofmiami | Feb 17, 2015 | IRS Tax Problem Resolution - Back Taxes, Miami CPA Accounting, Tax Compliance - High Net Worth Individuals
The fraudulent tax filings associated with TurboTax is so bad that now top lawmakers in the House and Senate have begun investigating fraudulent refunds. In 2013, the federal government lost $5.2 billion due to fraudulent tax filings. Given how things have exploded...
