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Taxation & Business Specialist | Melbourne, Florida

Are you paying too much Self-Employment Tax?

Being a Sole Proprietor As a sole proprietor, you must pay self-employment taxes on your net business earnings at a current rate of 15.3%: 12.4% is for social security and 2.9% for Medicare. In 2021 the first $142,800 of your earnings is subject to Social security taxation, and all your net earnings are subject to…
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Major IRS Tax Changes

This is the one period of the year that everyone does not looks forward to! Tax Season is the most bothersome inconvenience and never anyone’s favorite time of the year. This upcoming tax season is a bit more complex, with unique and special twists to the norms. A lot of care must be taken when…
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SBA Loan Types and Tax Ramifications

What SBA Loan Types are available, and what are the Tax Ramifications that go along with these loans? The U.S. government has launched many programs to support local businesses. To add some more clarity, we want to share information on the two SBA COVID-19 loan options. Here’s a chart that shows a comparison between the…
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Taking Salary as a Business Owner

Taking Ownership If you are a business owner, you wear many hats. After all the work you put in building your business, hiring employees, staying on top of inventory, and maintaining the books, it can often seem that you come last. However, making a living is critical to your health and financial security. The IRS…
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IRS guidelines on taking a salary for a S Corporation

Avoid possible penalties for not taking a salary as an S Corporation, by following IRS guidelines. Many small business owners choose the S Corporation tax classification to enjoy the advantages that it provides. S Corporations have many benefits: pass-through taxation, shareholder liability limited to the amount of the initial investment, a simple and straightforward cash…
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Assets & Bookkeeping

The Big picture Hopefully, when it comes to taking stock of your business, you have managed to stay on top of your book for the whole year. Even if your records aren’t perfect, with one month left before taxes are due, now is an excellent time to get a handle on your accounting. Most people…
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End of the Year Bookkeeping Review

Almost to the end of 2020 Towards the end of the fourth financial quarter, it is essential to take stock of where your company stands. Hopefully, you have been keeping track of your business’s economic activities throughout the year, so you are not scrambling to catch up. We know that taxes are one of the…
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Local City & County Tax Receipts

Local City & County Tax Receipts When you own a business, you wear many hats. One of the most important ones is to pay the taxes owed by your company. When people think of taxes, they often think of federal or state taxes. However, it is essential to remember that business tax receipts and any occupational licensing…
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New Client Cash Voucher

Alron Enterprises, Inc. is offering a Cash Voucher worth $125.00 to any new client on their first appointment at our office. Print and bring this voucher with you to redeem it for your personal or business tax consultation, or for any other service offered by Alron Enterprises, Inc. and its subsidiary corporations.   Please contact…
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Why Does My Corporation Need a Corporate Book?

Cross your T’s and Dot your I’s If you are a business owner, you have to keep an eye on many aspects of the company. Making sure you remain profitable with a good debt to asset ratio is your number one priority and allows you to continue the venture and pay your loyal employees. However,…
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