Navigating the complexities of partnership tax is crucial for professionals involved in a business partnership. Unlike other business structures, partnerships have unique tax implications that require careful planning and a clear understanding of the rules. If you’re in a partnership in Coral Gables, understanding how partnership tax works is key to ensuring compliance and optimizing […]
Tax planning is a vital part of managing your finances, especially for professionals in Coral Gables. By strategically managing your income, deductions, and investments, you can reduce your tax liabilities and make the most of your hard-earned money. Here are some essential tax planning tips to help you stay ahead. Understand Your Tax Bracket Knowing […]
Navigating the complexities of U.S. tax law can be challenging, especially when it comes to foreign investments in real property. If you are a foreign investor or dealing with foreign clients investing in U.S. real estate, it is crucial to understand the Foreign Investment in Real Property Tax Act (FIRPTA). This legislation can significantly impact […]
To help small businesses keep employees on their payroll during the pandemic, Congress introduced the Employee Retention Credit (ERC) in 2020, which is a tax credit that can be claimed on the quarterly payroll tax reports. Since its inception, additional laws have modified the qualifications, and it is now quite a complex area. Because it […]
The IRS has been in the news recently, and there are several rumors floating around on social media that we’d like to set straight. It’s simply NOT true that 87,000 IRS agents with guns will be coming after you any time soon! Here are the real facts. The Inflation Reduction Act signed by the President […]