727·330·3500    ·    Denise Mensa-Cohen, Enrolled Agent    ·    Office Located in Clearwater, Florida
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Tax Relief for Victims of Hurricane Florence

The IRS is offering tax relief to any area designated by the Federal Emergency Management Agency (FEMA), as qualifying for individual assistance. Currently, this only includes parts of North Carolina, but taxpayers in additional localities (and states) may be added to...

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Applying for Tax-Exempt Status as Nonprofit

If you're thinking of starting a nonprofit organization, there are a few things you should know before you get started. First, is understanding how nonprofits work under state and federal law. For example, two things you should understand is that state law governs...

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Choosing a Retirement Destination

With health care, housing, food, and transportation costs increasing every year, many retirees on fixed incomes wonder how they can stretch their dollars even further. One solution is to move to another state where income taxes are lower than the one they currently...

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Tax Considerations when Hiring Household Help

If you employ someone to work for you around your house, it is important to consider the tax implications of this arrangement. While many people disregard the need to pay taxes on household employees, they do so at the risk of paying stiff tax penalties down the road....

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Five Things to know before Starting a Business

Starting a new business is an exciting, but busy time with so much to be done and so little time to do it in. Also, if you expect to have employees, there are a variety of federal and state forms and applications that will need to be completed to get your business up...

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Avoiding an Unexpected Tax Bill

Tax withholding can be complicated, and with the passage of the Tax Cuts and Jobs Act (TCJA) legislation, it's even more so since a number of tax provisions have changed. As such, it's important to make sure the right amount of tax is withheld for your particular tax...

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529 Education Savings Plan Updates under Tax Reform

Taxpayers with school-age children should be aware of three recent tax law changes affecting 529 education savings plans. Tuition refunds The PATH Act change added a special rule for a beneficiary of a 529 plan, usually a student, who receives a refund of tuition or...

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Taxpayer Data Secure with new IRS Get Transcript

Taxpayers that need prior years' tax returns and other tax documents should know that there is a new format for individual tax transcripts that redacts personally identifiable information from Form 1040 tax documents. This new transcript replaces the previous format...

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