September 30, 2017

The IRS has now granted expanded relief to any area desginated by FEMA as qualifying for either individual assistance or public assistance in the state of Florida.

This encompasses all 67 Florida counties. 

This expanded relief permits the IRS to postpone certain deadlin...

April 8, 2017

Article Highlights:
 

  • Social Security Administration

  • IRS Notification

  • USPS Notification

  • Withholding & Estimated Payments

  • Revising W-4s

  • Insurance Marketplace

  • Filing Status

  • New Spouse’s Past Liabilities

  • Capital Loss Limitations

    ...

March 23, 2017

Article Highlights:
 

  • Joint & Several Liability

  • Exemptions

  • Itemizing Deductions

  • Social Security Income

  • Section 179 Deduction

  • Special Passive Loss Allowance

  • Traditional IRA Deduction Phase-Out

  • Roth IRA Contribution Phase-Out

  • Co...

January 10, 2017

  • Independent Contractors

  • 1099 Filing Requirement

  • Due Dates

  • Penalties

  • Form W-9 and 1099 Worksheet

If, in your business, you engage the services of an individual (independent contractor) other than one who meets the definition of an employee a...

April 1, 2016

 

 

April 1 - Last Day to Withdraw Required Minimum Distribution

Last day to withdraw 2015’s required minimum distribution from Traditional or SEP IRAs for taxpayers who turned 70½ in 2015. Failing to make a timely withdrawal may result in a penalty equal to 50% of the...

April 1, 2016

Article Highlights:

  • Pay-as-you-go tax system

  • Tax law changes affecting estimates

  • Underpayment penalties

  • Safe harbor estimates

The government wants its tax revenue up front and has a “pay-as-you-go” system, and if your pre-paid amount is not enough,...

April 1, 2016

The issue relates to depreciation, which is defined as a reduction in the value of an asset with the passage of time, due in particular to wear and tear of the asset over time. 

 

What most business owners don’t know is that, subject to IRS code, any depreciable asset –...

March 31, 2016

Deducting Startup Costs for Your New Business at Tax Time

 

Before you earn your first dollar, before you are even open for business, your startup can incur considerable expenses. The money you spend opening your business can often be deducted; the IRS allows you to dedu...

March 30, 2016

Article Highlights:

  • Balance due payments

  • Contributions to a Roth or traditional IRA

  • Estimated tax payments for the first quarter of 2016

  • Individual refund claims for tax year 2012

 

Just a reminder to those who have not yet filed their 2015 tax retur...

March 25, 2016

Article Highlights:

  • Balance due payments

  • Contributions to a Roth or traditional IRA

  • Estimated tax payments for the first quarter of 2016

  • Individual refund claims for tax year 2012

 

Just a reminder to those who have not yet filed their 2015 tax retur...

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1099 Filing Date Moved Up This Year; Don’t Get Trapped into Penalties

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McNair and Associates, P.A. CPA's
1250 S. U.S. Highway 17-92, # 250
Longwood, Florida 32750

 

Telephone: (407) 830-5717
Facsimile: (407) 830-1601

 

 

Providing Professional Tax

and Accounting Services For Over 30 Years

Members Florida Institute of Certified Public Accountants

© 2015 ALL MATERIALS ON OUR WEB SITE (MATERIALS) ARE PROVIDED SOLELY FOR INFORMATIONAL PURPOSES.THE MATERIALS ARE NOT INTENDED TO CONSTITUTE LEGAL, FINANCIAL, TAX  ADVICE

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