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Taxation & Business Specialist | Melbourne, Florida

The 2021 Child Tax Credit Explained

What is the Child Tax Credit (CTC)? The Federal Child Tax Credit is a program that has been around since the late 1990s. The current administration enhanced the CTC payments to help those in need. The information provided on your 2019 or 2020 tax return will determine your eligibility to receive the payments. If eligible,…
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The IRS Took My IRS Refund To Pay My Spouse’s Debt?

My Tax Refund Paid My Spouse’s Debt? If this sounds familiar, then you may want to look into this article on getting your refund back. First, take a minute to answer the following questions.  If you answer yes to all the listed questions, you may just be eligible to file an injured spouse claim. Did…
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Tax Day Extended to May 17.

Effective March 17, 2021, the Internal Revenue Service and the Treasury Department automatically extended the federal income tax filing due date for individuals from April 15, 2021 to May 17, 2021. Taxpayers do not need to file any forms or call the IRS to qualify for this automatic extension. With Tax Day now on May…
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Managing Payroll During Difficult Times

Business as Usual Business owners are constantly juggling different responsibilities, from paying taxes to controlling costs, all while keeping an eye on the bottom line. However, the majority of businesses would be nowhere without their employees, making payroll a crucial aspect of business ownership. Along with being a legal obligation, the human component of business…
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S Corp Shareholding

Whether you run an S Corporation or choose to invest in one, it is essential to keep a few key considerations in mind. The tax benefits gained from an S Corporation versus a C Corporation are crucial, and two main reasons for electing S Status are: Avoid double taxation on distributions Allow corporate losses to…
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Managing Your Business Goals for 2020

Why You Should Be Scheduling Meetings with Yourself in 2020 As a small business owner, a good portion of your day is probably taken up in meetings. Meetings are important time to connect with others to brainstorm, set goals and review progress. However, you might be missing out on the most important type of meeting—a…
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The Importance of Tax Planning

Don’t Let Taxes Sneak Up You They say that the only guarantees in life are death and taxes. If that’s the case, then why is it so many people wait until the last minute to start thinking about their taxes? Preparing for tax time throughout the year is the best way to make sure that…
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Part 1: Ultimate Guide To Starting Your Own Business

The first step. If you’ve ever been unsatisfied working for someone else, or resentful of your position with a company that doesn’t treat you the way they should, you’ve probably considered other options. Maybe you’ve dreamed of having flexible hours, being your own boss, and getting paid what you’re worth. Starting your own business may…
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Ultimate Guide To Payroll – Part 3

Welcome to Part 3 of our series on Business Payroll. This week we will discuss payroll taxes, from calculating to remittance, this article will help you understand your responsibilities as an employer. If you missed Part 1 or Part 2 you can find them here. Calculating Payroll Taxes You are required to withhold payroll taxes…
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Ultimate Guide To Payroll – Part 2

Welcome to Part 2 of our series on Business Payroll. This week we will discuss setting up payroll, from conception to record keeping, we cover it all in this article. If you missed Part 1 you can find it here. Stay tuned for Part 3 coming next week! Setting Up Payroll Before you set up…
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