When it comes time for your small business to be audited by the IRS, it’s important to be aware of what they’re looking for. The IRS training manual explains to its auditors that they need to look at the owner as much as the business, and make sure that everything matches up in terms of[…]
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In the world of accounting there are two classifications of CPAs – active and inactive. The difference between the two is that an inactive CPA is an individual that has passed the CPA exam, but does not represent him or herself as a CPA. Our firm recommends that you hire an active CPA over an[…]
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As a self-employer or founder of a small business, it can be difficult and sometimes overwhelming to file taxes. However, if you’re willing to sift through the paperwork and read the fine print, you can save your business a great deal of money with tax deductions. Our Miami accounting firm wants our clients to run[…]
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Tax Treatment for Investments Made by Non-Profit Organizations. Non-profit organizations enjoy the luxury of operating under the umbrella of tax exempt status. However, often times these organizations may be involved in for profit activities that may be subject to taxation. UBTI is used for this exact purpose of preventing organizations from using their tax exempt[…]
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