Call Us ~ (239) 281-1464

Our Blog

Posted on Friday, February 03, 2023
As weather interrupts some parts of the country and business owners have to scramble and fill in the gaps of employees, supplies, deliveries and the like, it’s easy for them to worry about taxes later, after all, there’s “plenty of time.” That often comes back to bite them though, sometimes hard. If they run their business as a sole proprietorship then yes, they have until mid-April to file, and until mid-October if they file an extension.  However, the majority of small businesses under pay tax estimates, if the pay them at all, and the first filing date (mid-April) is when the taxes are due, even with an extension to file. The penalties and interest are based on what’s owed and...

Click here to view the full article on Tax What If Doctor.


Posted on Friday, January 27, 2023
A few weeks ago a major piece of legislation was signed into law and in our qualified opinion, seniors win. Young people however, who are being told they win as well, may actually lose, due to basic human nature. For our seniors, the rules around Required Minimum Distributions from IRAs, also known as “RMDs” were changed, moving the age at which they must begin from 72.5 to 73 years old. Tax rules that run on age changes and dates are just easier to follow for most. As people are living longer and many are working past age 65, it was time to adjust those rules, which just a few years ago had required distributions triggering at age 70.5. It is scheduled...

Click here to view the full article on Tax What If Doctor.


Posted on Friday, January 20, 2023
Sometimes “Tax Planning” can be easy: “Open an IRA and it reduces your taxable income.” Other times it can be quite complex: “Cost segregation” on a building means hiring an engineering firm and having a structure broken down into its many components on paper, with each value separately listed; the frame, wiring, heating systems, etc., and taking write-offs, generally much faster than simply taking a standard approach. These are both ways to lower federal or state taxes.   For the people who have made large amounts of money or have larger estates, the year to year tax bill is not as much of a concern as the “Death Tax Bill.” Planning for them can be simple or complex as well,...

Click here to view the full article on Tax What If Doctor.


Posted on Thursday, January 12, 2023
We talk a lot about people not doing tax planning and not spending more time creating the tax outcomes they want. We urge people to understand that it’s within their own control and that tax outcomes can be legally and ethically manipulated.  We go on and on about the benefits.  BUT…we understand why it’s so rarely done! It is because almost nothing in people’s lives has more constant change than taxes, and keeping up with all the changes can be an overwhelming challenge.  What if every four years your banking rules changed, “Oh I’m sorry John, we no longer pay you interest, now you pay us interest to keep money here.”  Or “Now you have to send in your mortgage...

Click here to view the full article on Tax What If Doctor.


Posted on Friday, January 06, 2023
There are many ways a tax return can be done that are all OK with the IRS, but only one of those ways nets the largest refund!  People need to understand this across America, and we talk about tax planning constantly.  We blog, tweet, post, email and on and on, yet we as an industry are not even getting 10% of the public to take on tax planning!  The clients who do are often thrilled at the outcomes, and yet it’s just hard to get people to want to spend half the time that they spend planning their vacations on planning their own tax outcomes, even though larger refunds would pay for those vacations! Tax planning offices often don’t look like...

Click here to view the full article on Tax What If Doctor.


Posted on Thursday, December 29, 2022

Click here to view the full article on Tax What If Doctor.


Posted on Thursday, December 22, 2022

Click here to view the full article on Tax What If Doctor.


Posted on Friday, December 16, 2022
Many people have the intention of doing a better job of “tax planning” in order to start having more favorable outcomes, but busy lives and life interruptions can leave them little time.  If this is you, you’re not alone.  Time flies even in normal times, but with the current stressful environment, everyone is scrambling even more, so you look at the calendar and think, “I can go see my accountant or financial advisor, or I can get my shopping done”, and the next thing you know its Dec 18th and the end of the year is upon us. Most advanced tax planning requires communication about concepts, takes reams of paperwork and time to submit to custodians, so it would be...

Click here to view the full article on Tax What If Doctor.


Posted on Friday, December 09, 2022
Dear Santa, I feel like you put me on the naughty list ever year. When I file my tax return you impose taxes on me that I don’t want to pay. It feels like tons of coal are being unfairly put into my very little stockings. I try to be a good person all year, so I’m not sure why you are singling me out and treating me this way. Dear Suzie, You are not on the naughty list. In fact, you’re not on any list at all. You’re not being watched by me or my elves, unless you are doing things you ought not be doing. Every year I actually provide you with lots of presents, the following just...

Click here to view the full article on Tax What If Doctor.


Posted on Friday, December 02, 2022
Most business owners in any five year period can answer yes to at least one of these life event questions that would cause them to need to know what their company is worth. 1. Are you contemplating the sale of your business? 2. Are you working with or bringing in a partner? 3. Are you contemplating or currently going through divorce proceedings? 4. Are you potentially going to have to defend yourself or your company in court? 5. Are you looking for financing? There are other possible reasons of course, but the point is that there are many times a business owner finds himself or herself needing to obtain a proper business valuation for their company. Unfortunately, it’s often an...

Click here to view the full article on Tax What If Doctor.