BOI Injunction
On Tuesday December 3, 2024, Judge Amos L. Mazzant III of the US District Court of the Eastern District of Texas, issued a nationwide injunction which preliminarily blocks the initial…
Blog
Submission of Beneficial Ownership Information (“BOI”) to FinCEN
The Corporate Transparency Act requires many small businesses to report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). Both domestic and foreign reporting entities are required…
Lutz, Selig & Zeronda, LLP recognizes Melissa
At Lutz, Selig & Zeronda, LLP, we take pride in recognizing the achievements of our team members. As a Senior Associate at Lutz, Selig & Zeronda, LLP, Melissa Badon, CPA…
Boost Your Income: How Renting Your Vacation Home Can Maximize Your Earnings and Minimize Your Taxes
Volume 11 Issue 6, Blog, eNewsletter
Owning a dwelling unit that is used as a vacation home can be a dream come true, offering a personal retreat and potential rental income. However, the tax implications of…
Breaking News: The IRS Has Just Updated Their Position Related to Denying or Paying Employee Retention Credit (ERC) Claims
Volume 11 Issue 6, Blog, eNewsletter
The Employee Retention Credit (ERC) was introduced as a part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020 to help businesses keep employees on their payroll…
Understanding the Types of IRS Audits: Why Professional Help is Essential
Volume 11 Issue 6, Blog, eNewsletter
Dealing with the IRS can be a daunting experience, especially when you receive an audit notice. Understanding the different types of IRS audits and what each entails can help you…
Top 5 Accounting Mistakes Small Business Owners Make and How to Avoid Them
Volume 11 Issue 6, Blog, eNewsletter
Proper accounting is the backbone of any successful small business. It ensures that your financial records are accurate, helps you make informed decisions, and keeps you compliant with tax regulations….
Maximizing Benefits and Navigating Pitfalls: Understanding the Tax Implications of Inheriting or Receiving a Home as a Gift
Article Highlights: Gifting Considerations Gift Tax Return Gift Basis Holding Period Home Sale Exclusion Capital Gains Special Considerations Inheritance Inherited Basis Depreciation Reset Comparison A frequent question, and a situation…
Securing Your Business’s Future: Mastering Succession Planning
For many business owners, the future is uncertain. Would you like to ensure the long-term success of your enterprise, reducing stress and providing peace of mind? That’s where succession planning…
Estimated Tax Payments Are Not Just for the Self-Employed
Article Highlights: Employees Self-Employed Individuals Periodic Payments Underpayment Penalty Safe Harbor Payments Unlike employees, who have income, Social Security, and Medicare taxes withheld from their wages, self-employed individuals must prepay…