Tax Law
How does being a Florida Real Estate Professional help you on your taxes?
Florida is a major real estate state with investments in properties increasing every year. However,
Alex Cruz
January 26, 2021
Tax Law
What Does the New Biden-Harris Tax Plan Do?
January 20, 2021 brings with it a new Presidential Administration in the United States, but
Eric Gros-Dubois
January 8, 2021
Tax Law
Limited Liability Company and Foreign Owners: Part II Tax Considerations
Limited liability companies (LLCs) have become popular as a legal entity to help investors and
Alex Cruz
January 5, 2021
Tax Law
Can You Deduct the Costs of Gifts from Your Business Income?
Certain gifts made during the course of the year can be deducted from your business’s taxable income. Of course, the IRS provides several limitations and exceptions, such as a $25 maximum per recipient and exclusion of gifts which are branded with the giver’s name or logo.
Alex Cruz
November 10, 2020
Tax Law
What is a Like-kind Exchange?
A like-kind exchange (also referred to as a 1031 exchange or Starker exchange) can help lower your current tax bill by deferring the tax due on the sale of your property.
Alex Cruz
October 15, 2020
Tax Law
What Is an Agricultural Tax Exemption in Florida?
The Agricultural Tax Exemption is a property tax exemption that landowners may receive, if they can show that their land is being put to agricultural use. Different states define “agricultural use” in different ways. For example, Florida requires agricultural use to be bona fide. Fl. Stat. § 193.461. “Bona fide agricultural purpose” is defined as a “good faith commercial agricultural use of the land.” Fla. Stat. § 193.461(1)(b) (2009). Some states require the agricultural use to be for commercial purposes, and for some profits to be gained from the land.
Eric Gros-Dubois
June 25, 2020
Tax Law
Where Do Online Businesses Source Their Income? Part One: Sales Tax
E-commerce has created several tax-related issues for corporations conducting business across states without a physical footprint. This blog will discuss the sales tax implications for online businesses.
Eric Gros-Dubois
May 27, 2020
Tax Law
Is There a Statute of Limitations for Federal Tax Liens?
What is a Federal Tax Lien? A federal tax lien is the government’s legal claim
Eric Gros-Dubois
May 11, 2020
Business Law
Why is an LLC Important?
Today, many businesses are forming as a Limited Liability Company (LLC) and are finding that an LLC offers the “best of both worlds” of corporate forms.
Eric Gros-Dubois
April 29, 2019
What are the new procedures after the “OVDP” was terminated?
On September 28, 2018, the IRS officially terminated the Offshore Voluntary Disclosure Program (“OVDP”). The
Eric Gros-Dubois
January 8, 2019
Business Law
An Overview of Qualified Business Income (QBI) Deductions: Part Three; Taxpayers Between the Taxable Income Thresholds
The first and second post of this series on QBI deductions analyzed the purpose of the deduction and how it applies specifically to taxpayers below the lower threshold or above the higher threshold. This post addresses taxpayers that fall between the two thresholds.
Eric Gros-Dubois
November 14, 2018
Business Law
An Overview of Qualified Business Income (QBI) Deductions: Part Two; Taxpayers Above the Higher Taxable Income Threshold
The first post in this series on QBI deductions examined the purpose of the deduction, who can claim it, and how to calculate QBI deductions for taxpayers in a lower threshold. This post specifically addresses taxpayers with a taxable income above the higher threshold of $207,500, for individuals, or $415,000, for joint filers.
Eric Gros-Dubois
November 13, 2018
Business Law
An Overview of Qualified Business Income (QBI) Deductions; Part One
A new and important provision in the Tax Cut and Jobs Act (TCJA), enacted in December of 2017, is Section 199A, which allows deductions for qualified business income (QBI). This post is part one of a three-part series and addresses what QBI is, who may claim QBI deductions, how they may claim such deductions, and how to calculate the deduction for taxpayers below the lower threshold.
Eric Gros-Dubois
November 11, 2018
Business Law
What are the Deductions for the new Tax Act?
The Tax Cuts and Jobs Act passed in 2017, and effective in 2018, provides businesses with a reduced tax rate, but also significantly alters the tax deductions businesses can claim. Some major categories of tax deductions that have been adjusted are meals, entertainment, and travel for either employees or clients
Eric Gros-Dubois
November 4, 2018
What is an Intentionally Defective Grantor Trust?
What is an Intentionally Defective Grantor Trust? An “Intentionally Defective Grantor Trust” (IDGT) is a
EPGD Law
May 28, 2018
Let’s blow the whistle on this joint.
A “whistleblower” is someone who reports misconduct by an employer, co-worker, or another party. For
EPGD Law
April 14, 2017
2016 Corporate Tax Filing Deadline
There is a saying, usually attributed to Benjamin Franklin, that says “nothing is certain except
EPGD Law
March 13, 2017
Estate and Trust Taxes
IRS Form 1041 is an income tax return for estates and trusts, similar to Form 1040 for
EPGD Law
February 22, 2016