Holly Roundtree CPAOct 6, 20193 min readTake advantage of the gift tax exclusion rulesAs we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. Taxpayers can...
Holly Roundtree CPASep 29, 20192 min readWhen 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 CPASep 29, 20192 min readThe chances of an IRS audit are low, but business owners should be preparedMany 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 CPASep 29, 20192 min readHow to treat your business website costs for tax purposesThese 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 CPASep 22, 20192 min readExpenses that teachers can and can’t deduct on their tax returnsAs teachers head back for a new school year, they often pay for various expenses for which they don’t receive reimbursement. Fortunately,...
Holly Roundtree CPASep 22, 20192 min readGetting a divorce? There are tax issues you need to understandAlimony or support payments. For alimony under divorce or separation agreements that are executed after 2018, there’s no deduction for...
Holly Roundtree CPASep 22, 20192 min readUncle Sam may provide relief from college costs on your tax returnWe 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 CPASep 22, 20192 min readThe key to retirement security is picking the right plan for your businessIf 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 CPASep 22, 20191 min read2019 Q4 tax calendar: Key deadlines for businesses and other employersHere are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019. Keep in mind...
Holly Roundtree CPASep 22, 20193 min read5 ways to withdraw cash from your corporation while avoiding dividend treatmentDo 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 CPASep 13, 20191 min read2019 – 09/06Income 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 CPASep 13, 20191 min read2019 – 09/06The IRS has proposed regulations on the “tax year of income” inclusion for certain accrual method taxpayers. The proposed regs reflect...
Holly Roundtree CPASep 13, 20191 min read2019 – 09/05A recent audit reveals that the IRS’s Criminal Investigation (CI) should increase its role in enforcement activities involving identity...
Holly Roundtree CPASep 12, 20191 min read2019 – 09/05The 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 CPASep 12, 20191 min read2019 – 09/04Many 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 CPASep 11, 20191 min read2019 – 09/04Taxpayers with certain foreign financial accounts must report them on their returns. They may also need to file a Report of Foreign Bank...
Holly Roundtree CPASep 11, 20191 min read2019 – 09/04Avoid “phishing” trips. More than 90% of all data thefts begin with a phishing email, according to the IRS. Cybercriminals use phishing...
Holly Roundtree CPASep 11, 20191 min read2019 – 09/03 – The next estimated tax deadline is September 16: Do you have to make a paIf you’re self-employed and don’t have paycheck withholding, you probably have to make estimated tax payments. These payments must be...
Holly Roundtree CPASep 10, 20191 min read2019 – 09/03The IRS is temporarily waiving the penalty for using dyed fuel on Florida highways. It took the step to minimize and prevent disruptions...
