Although the 2018 Tax Cuts and Jobs Act provided some new tax breaks, it also erased many deductions that you may have routinely claimed. The following eliminated deductions are scheduled to remain through 2025, pending congressional action. Home Equity Loan Interest. According to the new tax law, the deduction for home equity interest from 2018 […]
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THF congratulates Kayla Twogood on joining the Lee’s Place Board of Directors. Lee’s Place was founded in 2000 after the president Brenda Rabalais lost her son, Lee, to cancer. This organization sets out to provide grief, loss, and trauma counseling to individuals and families that may not otherwise be able to afford it. The Lee’s […]
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THF has recently acquired the Bainbridge, Georgia firm, Dowdy & Whittaker CPAs. Dowdy & Whittaker CPAs has been providing tax and accounting services for over 30 years in the Bainbridge community. Owners John Dowdy and Charles Whittaker are well-known and successful business owners who have been leaders in the community and strong advocates and supporters […]
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THF welcomes Kayla Twogood as a Senior to the Tax Services Department. Kayla Twogood, a Colorado native, received her bachelor’s degree in business administration with a concentration in accounting and her master’s degree in accounting with a specialization in taxation from Colorado State University. She is a licensed CPA by the state of Colorado and […]
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Although the 2018 Tax Cuts and Jobs Act provided some new tax breaks, it also erased many deductions that you may have routinely claimed. The following eliminated deductions are scheduled to remain through 2025, pending congressional action. Home Equity Loan Interest. According to the new tax law, the deduction for home equity interest from 2018 […]
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THF congratulates Allison Harrell on joining the Governor’s Club Board of Governors and Andrea Medley on joining the American Red Cross North Florida Region Board. Allison is a Shareholder in the Assurance Services Department at THF. She attended Florida State University and received her bachelor’s degree in accounting and her master’s degree in accountancy with […]
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Over time an organization, as well as related tax and case laws, can change significantly. These changes, although subtle on a year-by-year basis, can considerably alter the tax exposure of your exempt entity. A comprehensive tax “checkup” serves as a diagnostic tool to help identify tax exposure areas and planning strategies. A tax checkup provides […]
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In today’s day and age, it is important to understand what cryptocurrency is. Cryptocurrency or virtual currency, is a digital medium of exchange that can be used for purchasing, selling, and storing value, but it is not backed by a sovereign government. The U.S. Treasury currently classifies cryptocurrency as intangible property. Despite the name, it […]
THF congratulates Taylor Harmon on being recognized as a the Tallahassee Network of Young Professionals’ Golden A.C.E award winner. The Golden A.C.E. Awards recognizes the Capital City’s top “20 Under 40” young professionals. A Golden A.C.E. recipient is an emerging young leader in their respective industry and represents the award’s namesake – to highlight those in […]
THF’s Tampa Team has been named the winner of the United Way Spirit of Suncoast Award in the category of “less than 100 employees” for the 2018 campaign year. United Way’s Spirit of Suncoast Award honors local companies for their exceptional commitment and investment by their organization and their employees. The award is presented […]
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It’s that time of year again! Many of you are currently choosing a tax preparer to help file your tax return. If you are filing through a tax preparer, it is very important that you choose your preparer wisely. Ultimately, you are responsible for all of the information on your income tax return, no matter […]
An often overlooked process for companies is the development of a succession plan. Succession plans are used to address the inevitable changes that occur when business owners, partners or key employees resign, retire, are fired, get sick, or pass away. This strategy for the identification and development of future leaders is necessary to ensure a […]
THF congratulates Brandon Mott on being selected as a Florida Institute of Certified Professional Accountants (FICPA) Horizon Award recipient. The FICPA’s Horizon Awards recognize the brightest young CPAs who are advancing the CPA profession and working to better their communities through service. Honorees are considered to be accelerating the accounting field through professional experience, leadership, […]
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In 1967 and 1992, the United States Supreme Court decided cases that formed the operating framework of how states could impose the requirement that a business collect/remit sales tax on behalf of a state. The central theme around this framework was that states could not impose on out-of-state sellers the obligation to collect and remit […]
Changes to the new tax law means that small business owners can immediately expense more of the cost of certain business property Many are now able to write off most depreciable assets in the year they are placed into service. The Tax Cuts and Jobs Act (TCJA), passed in December 2017, made tax law changes […]
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The 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes have been issued. Beginning on January 1, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 58 cents for every mile of […]
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THF congratulates Megan Keplinger on joining the Tallahassee Network of Young Professionals Board as the Marketing Chair. The Tallahassee Network of Young Professionals was established with the goal to foster personal and professional growth by connecting members through fun and engaging activities, while simultaneously offering career enhancing opportunities. Its mission is to make Tallahassee a city […]
THF congratulates Allan Franklin III on earning the Certified Fraud Examiner (CFE) designation. He has also been invited to join the Board of Directors of Infragard of Tallahassee. The CFE is a credential awarded by the Association of Certified Fraud Examiners (ACFE). The ACFE is a provider of anti-fraud training and education. With over 80,000 members, […]
THF welcomes Beau Liao and Matthew Warren to the firm. Matthew, a Tallahassee native, received his bachelor’s degree in accounting from Flagler College. Matthew attended Chiles High School and is in his first year of public accounting. Beau, originally from China, received his bachelor’s degree in accounting from Florida State University, followed by his master’s […]
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THF welcomes Lindsey Gregory and Ryan Cummings to the firm. Lindsey, a Fort Myers native, received her bachelor’s degree in accounting at Florida State University, followed by her master’s degree in accounting and taxation from Florida Gulf Coast University. Lindsey is in her first year of public accounting. Ryan, originally from Punta Gorda, received his […]
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THF congratulates Alex Frey and Brian Detwiler on their promotions to Senior in the Assurance Services Department. Alex Frey joined THF in 2017, and has been providing assurance services since 2015. He has provided a range of services in the insurance industry, which include financial statement audits, agreed-upon procedures, and financial statement reviews and compilations. […]
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THF congratulates Gabe Crook and Jessica Gonzalez Shipe on their promotions to Senior in the Assurance Services Department along with Megan Keplinger to Marketing and Business Development Coordinator. Gabe graduated with a bachelor’s degree in business administration from Florida State University. Gabe joined THF in 2015, and has been providing accounting and management services for over […]
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THF promotes Will Groom and Tim Icardi to Senior within the Tax Services Department. Will joined the THF team in September 2016. His current responsibilities include the preparations of C-Corporation, S-Corporation, partnership, individual, not-for-profit, and state tax returns. Will graduated with a bachelor’s degree in accounting and finance followed by a master’s degree in taxation […]
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THF announces that Julian Dozier and Brian Walgamott have been admitted as shareholders and will join the eight other shareholders as owners of the company. A graduate of Leadership Tallahassee Class 32, Julian Dozier has been providing assurance, consulting, and other accounting services since 2006. He has a special interest in for-profit entities with specialized […]
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Those affected by Hurricane Michael have until February 28, 2019, to file individual and business tax returns and make certain tax payments. This relief is being offered to any Major Disaster Declaration area designated by the Federal Emergency Management Agency (FEMA) as qualifying for either individual or public assistance. Currently, this includes parts of Florida […]
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THF congratulates Catherine Stout, Christie Battles, and Taylor Harmon on their promotions to Manager in the Assurance Services Department. Catherine Stout joined THF in 2015 and has over three years of experience in the assurance services department. Catherine works in our Tampa office. Her experience includes auditing insurance organizations in order to provide a range […]
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With hurricane season well underway, it’s a good idea to think about what you can do to be prepared should a hurricane or other natural disaster strike where you live. This high risk time can be scary, but here are four helpful tips to keep in mind. Get a Copy of Your Tax Return There […]
THF congratulates Leigh Jenkins on her promotion to Senior Manager in the Assurance Services Department. Leigh joined THF in 2015 and has over 14 years of experience providing assurance, consulting, and other accounting services to a variety of industries including not-for-profit organizations and foundations, banking, retail, and manufacturing. Leigh received her bachelor’s degree in business administration […]
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THF congratulates Stephen Andrews on his promotion to Director in the Tax Services Department and Brandon Mott on his promotion to Director in the Assurance Services Department. Stephen joined THF in January 2010. He has been providing tax compliance and consulting services for more than eight years. He received his bachelor’s degree and master’s degree […]
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THF welcomes Jillian Sliger and Lexi Quigley to the firm as full time accounting professionals. Jillian received her bachelor’s degree and master’s degree in accounting at Florida State University. She started at THF part-time in September 2017 while finishing her master’s degree. She has two years of experience in the accounting industry. Her areas of practice […]
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Many people may need to take out money early from their Individual Retirement Account or retirement plan. Doing so, however, can trigger an additional tax on early withdrawals. You would owe this tax on top of other income tax you may have to pay. Here are a few key points to know: Early withdrawals. An […]
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THF welcomes Alyson Battista and Travis Britt to the firm. Alyson, a Connecticut native, attended Southern Connecticut State University and earned her bachelor’s degree in business administration. Since 2016, she has been providing assurance services to a variety of industries including not-for-profit, health care, manufacturing, real estate, and other commercial industries. Alyson will be working […]
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If you pay higher for education in 2018 than before, you can see tax savings when you file your tax returns. If you, your spouse, or your dependents take post-high school coursework, you may be eligible for a tax benefit. There are two credits available to help you offset the costs of higher education: the […]
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If you have discovered you made mistakes or omissions on your tax return, you can correct them by filing an amended tax return. If you need to amend, you should remember these tips: File using paper form. Use Form 1040X, Amended U.S. Individual Income Tax Return, to correct the tax return. You can’t file amended […]
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If you make an effort to comply with the law, but are unable to meet your tax obligations due to circumstances beyond your control, you may qualify for relief from penalties. If you receive a notice stating that a penalty was assessed, you first should check that the information in the notice is correct. If […]
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THF congratulates Brett Gilman on passing the CPA exam. Brett Gilman received his bachelor’s degree and master’s degree in accounting from Florida State University. Over the last year, Brett has gained auditing experience in the governmental, commercial, not-for-profit, and employee benefit plan industries. His responsibilities include performance audits, pension audits, inventory observations, compliance testing, and agreed-upon-procedures. […]
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During the summer, people often rent out their property. They usually think about things such as cleanup and maintenance, but owners also need to be aware of the tax implications of residential and vacation home rentals. If you receive money for the use of a house that’s also used as a someone’s personal residence, it […]
The Tax Cuts & Jobs Act (TCJA) created wide sweeping changes to tax rules at both the business and individual level. Detailed below are some changes centered around vehicles that are now in effect. Changes to the deduction for move-related vehicle expenses The TCJA suspends the deduction for moving expenses for tax years beginning after […]
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If you are a business owner, the Tax Cuts and Jobs Act may affect your depreciation deductions and taxes. You can generally depreciate tangible property except land, which includes buildings, machinery, vehicles, furniture, and equipment. Changes to depreciation and how they will affect businesses may include: Businesses can immediately expense more under the new law. […]
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Co-hosts Thomas Howell Ferguson P.A. CPAs and the Florida State University, College of Business, The Catastrophic Storm Risk Management Center announce Aon as new title sponsor for the eighth annual INCON – Insurance Conference on Financial Reporting. Aon is a leading global professional services firm. Operating in 120 countries, Aon provides a broad range of […]
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