727·330·3500    ·    Denise Mensa-Cohen, Enrolled Agent    ·    Office Located in Clearwater, Florida
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Be Prepared When Natural Disasters Strike

Be Prepared When Natural Disasters Strike

While September and October are prime time for Atlantic hurricanes, natural disasters of any kind can strike at any time. As such, it's a good idea for taxpayers to think about - and plan ahead for - what they can do to be prepared. Here are four tips to help...

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Small Business: Tips for Ensuring Financial Success

Small Business: Tips for Ensuring Financial Success

Can you point your company in the direction of financial success, step on the gas, and then sit back and wait to arrive at your destination? While you may wish it was that easy, the truth is that you can't let your business run on autopilot and expect good results and...

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New Tax Rules for Divorce and Alimony Payments

New Tax Rules for Divorce and Alimony Payments

Divorce is a painful reality for many people both emotionally and financially, and quite often, the last thing on anyone's mind is the effect a divorce or separation will have on their tax situation. To make matters worse, most court decisions do not take into account...

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Tax Preparation vs. Tax Planning

Tax Preparation vs. Tax Planning

Many people assume tax planning is the same as tax preparation but the two are actually quite different. Let's take a closer look: What is Tax Preparation? Tax preparation is the process of preparing and filing a tax return. Generally, it is a one-time event that...

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The Home Office Tax Deduction for Small Business

The Home Office Tax Deduction for Small Business

If you're a small business owner who uses your home for business you may be eligible to claim the home office deduction, which allows you to deduct certain home expenses on your tax return. The benefit to this, of course, is that it can reduce the amount of your...

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5 Tips for Applying for Tax-Exempt Status

5 Tips for Applying for Tax-Exempt Status

If you're thinking about starting a nonprofit and want to apply for tax-exempt status under Section 501(c)(3) of the tax code, you'll need to use Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code. Here are five...

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Estimated Tax Penalty Waived for Eligible Filers

Estimated Tax Penalty Waived for Eligible Filers

More than 400,000 eligible taxpayers whose withholding and estimated tax payments fell short of their total 2018 tax liability will have the estimated tax penalty automatically waived or refunded (if they already paid the penalty) on 2018 returns filed with the IRS....

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Scam Alert: Watch out for IRS Impersonation Emails

Scam Alert: Watch out for IRS Impersonation Emails

Taxpayers should be aware that a new IRS impersonation scam email campaign is making the rounds. This latest scheme is yet another reminder that tax scams are a year-round business for thieves and taxpayers should be on guard at all times. This latest scam uses dozens...

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October 1 Deadline to Set up SIMPLE IRA Plans

October 1 Deadline to Set up SIMPLE IRA Plans

Of all the retirement plans available to small business owners, the SIMPLE IRA plan (Savings Incentive Match PLan for Employees) is the easiest to set up and the least expensive to manage. The catch is that you'll need to set it up by October 1st. Here's what you need...

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