Holly Roundtree CPA
Take advantage of the gift tax exclusion rules
As we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. Taxpayers can...
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Holly Roundtree CPA
When is tax due on Series EE savings bonds?
You may have Series EE savings bonds that were bought many years ago. Perhaps you store them in a file cabinet or safe deposit box and...
Holly Roundtree CPA
The chances of an IRS audit are low, but business owners should be prepared
Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal...
Holly Roundtree CPA
How to treat your business website costs for tax purposes
These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining...
Holly Roundtree CPA
Expenses that teachers can and can’t deduct on their tax returns
As teachers head back for a new school year, they often pay for various expenses for which they don’t receive reimbursement. Fortunately,...
Holly Roundtree CPA
Getting a divorce? There are tax issues you need to understand
Alimony or support payments. For alimony under divorce or separation agreements that are executed after 2018, there’s no deduction for...
Holly Roundtree CPA
Uncle Sam may provide relief from college costs on your tax return
We all know the cost of college is expensive. The latest figures from the College Board show that the average annual cost of tuition and...
Holly Roundtree CPA
The key to retirement security is picking the right plan for your business
If you’re a small business owner or you’re involved in a start-up, you may want to set up a tax-favored retirement plan for yourself and...
Holly Roundtree CPA
2019 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019. Keep in mind...
Holly Roundtree CPA
5 ways to withdraw cash from your corporation while avoiding dividend treatment
Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend....
Holly Roundtree CPA
2019 – 09/06
Income from a lawsuit or settlement can be excluded from income if it’s paid due to personal injury or sickness. In one case, the U.S....
Holly Roundtree CPA
2019 – 09/06
The IRS has proposed regulations on the “tax year of income” inclusion for certain accrual method taxpayers. The proposed regs reflect...
Holly Roundtree CPA
2019 – 09/05
A recent audit reveals that the IRS’s Criminal Investigation (CI) should increase its role in enforcement activities involving identity...
Holly Roundtree CPA
2019 – 09/05
The IRS has ruled that an IRA wasn’t an inherited IRA after the deceased IRA owner’s wife was appointed sole beneficiary by a state...
Holly Roundtree CPA
2019 – 09/04
Many temporary tax provisions have expired since the end of 2017. Many more will expire by Dec. 31, 2019. A bipartisan U.S. Senate...
Holly Roundtree CPA
2019 – 09/04
Taxpayers with certain foreign financial accounts must report them on their returns. They may also need to file a Report of Foreign Bank...
Holly Roundtree CPA
2019 – 09/04
Avoid “phishing” trips. More than 90% of all data thefts begin with a phishing email, according to the IRS. Cybercriminals use phishing...
Holly Roundtree CPA
2019 – 09/03 – The next estimated tax deadline is September 16: Do you have to make a pa
If you’re self-employed and don’t have paycheck withholding, you probably have to make estimated tax payments. These payments must be...
Holly Roundtree CPA
2019 – 09/03
The IRS is temporarily waiving the penalty for using dyed fuel on Florida highways. It took the step to minimize and prevent disruptions...
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