Your money may be under the IRS’ microscope in 2024. You may have heard cries of “Tax the Rich” recently in articles, speeches, primary posturing, and most probably at the State of the Union. New IRS audits of business aircraft use are just the beginning of a new level of scrutiny to come. It seems...
Are you a retiree, business professional, or a snowbird thinking of moving permanently to Florida? Keep in mind that moving to a new state is super stressful when establishing residency in addition to preparing documentation for tax purposes. Between finding your new home, then packing up your belongings, finding schools for the kids, new doctors etc.,...
Let your 2024 New Year’s Resolution be to avoid the IRS Dirty Dozen! Every year the IRS releases a list of the most recent tax scams and identity fraud schemes and they call them the Dirty Dozen. As we are now entering tax season, our CPAs and Accountants want to warn you to steer clear...
We have had many clients contact us regarding letters from the IRS requesting “identity verification.” Scammers often use stolen Social Security numbers to file fraudulent tax returns and collect refunds. To prevent this, the IRS scans every tax return for signs of fraud. If a suspicious tax return is found, the IRS reviews the return...
Many employers reward and recognize high performers with a bonus, especially toward the end of the year. If you award bonuses, there are several overtime and tax rules to consider. Here’s an overview to help you as you close out the business year in 2023. Bonuses and Overtime Pay Under the Federal Fair Labor Standards...
