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Tag Archives: Florida Tax Law Attorney

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Paying Estimated Taxes

By Ronald Cutler, P.A. |

With the end of the year in view, small businesses and self-employed taxpayers are encouraged to remember the importance of making quarterly estimated tax payments. For help determining how much you owe in estimated taxes and whether you should be paying on a quarterly basis, or if you were recently notified by the IRS… Read More »

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Deducting Charitable Contributions as Business Expenses

By Ronald Cutler, P.A. |

According to a recent announcement, the IRS is planning on issuing a series of regulations concerning the availability of charitable contribution deductions to business taxpayers. Fortunately, the proposed rule changes do not impact the availability of deductions for businesses that donate to charities or government entities and who receive state or local tax credits,… Read More »

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IRS Announces Plan to Revise Form 1040

By Ronald Cutler, P.A. |

In an effort to help streamline the tax return filing process, the IRS recently announced that it will begin implementing a plan to streamline 1040 forms for the 2019 tax season. The changes are expected to cut the document in half and make it much easier for users to understand and complete. For more… Read More »

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How Tax Reform Could Affect Taxpayers with Able Accounts

By Ronald Cutler, P.A. |

Last year’s tax reform bill made a number of significant changes to the tax code. One of these changes involves ABLE accounts, as people with disabilities are now permitted to place more funds into these types of accounts and may also be able to qualify for the Saver’s Credit for low-income workers. If you… Read More »

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Payment Options Available to Taxpayers Who Filed Their Taxes But Didn’t Pay

By Ronald Cutler, P.A. |

The IRS gives taxpayers an extension when it comes to filing their tax returns. However, this extension does not apply to any liabilities owed by taxpayers, so all payments were supposed to be submitted by mid April. Many taxpayers were unable to meet this deadline and so are now receiving tax bills because, although… Read More »

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Requesting an Online Extension

By Ronald Cutler, P.A. |

While all tax returns were due on April 17th this year, there are options for those who may have trouble meeting this deadline. For instance, the Free File option allows taxpayers to apply for an automatic six month extension. These extensions are automatically granted, so those who request it will have until October 15th… Read More »

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S Corporations Subject to Extended Three Year Holding Period

By Ronald Cutler, P.A. |

The Tax Cuts and Jobs Act, which was passed late last year, extended the holding period for carried partnership interests to three years. Carried interests are ownership interests in partnerships that allow the holder to share in the partnership’s net profits. These interests often result in the holder receiving capital gains that are taxable… Read More »

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IRS Retroactively Renews Important Tax Benefits

By Ronald Cutler, P.A. |

On February 9th, Congress enacted the Bipartisan Budget Act of 2018, which renewed a wide range of individual and business tax benefits for 2017 that had technically expired at the end of 2016. The three most popular benefits affected by the renewal involve deductions for tuition, mortgage insurance premiums, and the exclusion of qualified… Read More »

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Florida Hurricane Victims Could Qualify for Earned Income Tax Credit

By Ronald Cutler, P.A. |

As part of an effort to notify taxpayers of their potential eligibility for tax credits, the IRS recently announced that victims of last year’s Hurricane Irma could qualify for the Earned Income Tax Credit (EITC). According to the IRS, those who lived in areas affected by Hurricane Irma and who experienced a drop in… Read More »

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Taxpayers with Disabilities may Qualify for the EITC

By Ronald Cutler, P.A. |

The Earned Income Tax Credit (EITC) is a federal income tax credit that is available to workers who earned $53,930 or less in 2017. The EITC is a refundable credit, so those who qualify could end up paying less in federal taxes or even receiving a refund. Unfortunately, many taxpayers with disabilities or who… Read More »