Florida’s Tax Showdown: The Push to Eliminate Property Taxes and What It Means for Residents
Florida is debating eliminating property taxes in favor of a higher sales tax, raising concerns over economic impacts and fairness.
April 16, 2025
Tax
Global Markets Reeling as President Trump Announces Sweeping Tariffs
President Trump’s tariff strategy imposes a 10% baseline on imports, escalating tensions and sparking global economic concerns and retaliation.
April 10, 2025
What You Need to Know About Form 8308: When a Partner Sells or Trades Their Interest
Form 8308 ensures accurate tax reporting when partners sell or trade shares, preventing IRS penalties and misclassification of taxable hot assets.
March 31, 2025
Understanding Partnership Distributions: A Comprehensive Guide
Partnership distributions impact tax liabilities and financial planning. This guide clarifies cash distributions, tax basis adjustments, and gain recognition strategies.
March 28, 2025
Are You Missing Out on Your 2021 Tax Refund? Time is Running Out!
Don’t miss out on your 2021 tax refund! File by April 15, 2025, to claim valuable credits like EITC and CTC.
March 28, 2025
Understanding the 2025 IRS Tax Refund Schedule
The IRS processes 2025 tax refunds in 10-21 days. We ensure fast filing, maximized credits, and expert guidance.
March 27, 2025
Understanding Distributions in Excess of Basis
Distributions from an S corporation are tax-free up to stock basis. Any excess may be taxable as dividends or capital gains.
March 21, 2025
Case Study: Understanding S Corporation Distribution Determination
S corporation distributions impact taxes based on earnings layers and stock basis. ABC’s case shows tax-free and taxable dividend allocations, emphasizing compliance.
March 18, 2025
Understanding the Child and Dependent Care Credit: A Smart Tax-Saving Strategy for Families
Eligible taxpayers can claim the Child and Dependent Care Credit for work-related care expenses, reducing taxable income and easing financial burdens.
March 18, 2025
Understanding Distributions: Analyzing Tax Implications for Business Owners
S corporation distributions can be tax-free if within a business owner’s stock basis. Exceeding basis triggers taxable gains. Understanding tax rules prevents unnecessary liabilities.
March 14, 2025
