Legislation was reintroduced in late February to expand the Earned Income Tax Credit called the Cost-of-Living Refund Act of 2019. This bill would increase the size of the EITC as well as increase the number of tax filers eligible for the credit. The hope is that it would assist American families receiving smaller refunds than
Are You Taking Advantage of the Investment Opportunity Act?
Hidden away in the 2017 Tax Cuts and Jobs Acts is a program called the Investing in Opportunity Act, which can bring much needed investment to some of the nation’s distressed communities. It allows for investment in new businesses and in education, particularly charter schools and skill trainings programs. It is gaining popularity as a
Take A Second Look At Opportunity Zones
Time is running out if you have been considering investments in qualified opportunity zone properties and businesses. The deadline to get the full 15 percent step-up in basis afforded to realized capital gains is December 31, 2019. Opportunity Zones are a way to encourage more investment in economically distressed communities. They were slow in gathering
Client Spotlight Dr. Jay Ajmo PGA Dentistry
Our March client in the spotlight is Jay Ajmo, DDS. Dr. Ajmo is the founder of PGA Dentistry and an innovative leader in the fields of Cosmetic, Implant, and Restorative Dentistry. Dr. Ajmo has been voted “South Florida’s Most Distinguished Cosmetic Dentist” by The Best of South Florida and a “Top Doctor” by Consumer Research
Hello January
Every year the IRS adjusts more than 40 tax provisions for inflation. 2019 is no different! Except that instead of the Consumer Price Index or CPI, the IRS now uses the “Chained Consumer Price Index” to adjust income thresholds, deduction amounts, and credit values accordingly. 2019 will prove to be exciting for both CPAs and
Forensic Accounting
We use accounting and auditing skills to provide an analysis of financial records in conjunction with dispute resolutions, as well as fraud and theft investigation. Our damage measurement methods can determine the extent of financial loss and illegal accounting practices. For more information visit our www.fuocoforensic.com. Find out more Click Here for brochure.
Tax Reform Tax Break for Pass Through Entities
Tax Reform’s 20% Tax Break for Pass Through Entities – Exceptions Apply! The Tax Cuts and Jobs Act lowered the corporate tax rate to 21% while individual rates remained higher for individuals. This proved to be a problem for sole proprietors, partnerships, LLCs, trusts and other owners of pass-through entities like S-Corporations. So Congress, with
DISASTER UNEMPLOYMENT ASSISTANCE
North Palm Beach, FL (September 18, 2017) – Disaster Unemployment Assistance (DUA) is a federally funded benefit program that assists individuals who become unemployed because of a disaster. DUA is available to Florida businesses and residents whose employment or self-employment was lost or because of Hurricane Irma. Upon Governor Scott’s request for assistance, President Donald
Life Insurance Policy Audit and Review
Life Insurance Is An Important Asset Which Should Be Managed! Based on a study by the National Association of Insurance Commissioners, over 60% of people who own life insurance are not sure what the policy provides, and 29% admitted that they needed more insurance! Today’s life insurance policies are complex financial instruments and should be
Enjoy Expanded Tax Benefits for Depreciation and Expensing
Enjoy Expanded Tax Benefits for Depreciation and Expensing Tax Reform has impacted depreciation and expensing for nearly every business and entrepreneur. The Tax Cuts and Jobs Act changes allow business owners and the self-employed to write off the cost of machinery, equipment and other property more quickly. Here are some highlights: 100% First-Year “Bonus” Depreciation
