James M Cudd Cpa

Five guys committed a $13 million tax fraud. Here’s how much prison time they’ll do

Miami-Dade residents Jamal Dyer, Jorge Osorio-Rodriguez, Tramaine Sealy, Jonathan Edwards and Daniel Murias each have been sentenced to do federal prison time after pleading guilty to a $13 million tax fraud

3 midyear tax planning strategies for business · Kerkering, Barberio & Co., Certified Public...

Tax reform has been a major topic of discussion in Washington, but it’s still unclear exactly what such legislation will include and whether it will be signed into law this year. However, the last major tax legislation that was signed into law — back in December of 2015 — still has a significant impact on ...

Tax Deductions You Won't Believe

Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.

Why Religious Organizations Are Preemptively Exempt from Taxation

Chief Justice John Marshal wrote, in the Supreme Court ruling in McCulloch v. Maryland (1819), “That the power to tax involves the power to destroy; that the power to destroy may defeat and render …

10 Questions To Ask Your CPA

If you are hiring an accounting or tax and business firm, it should go without saying that you have a CPA involved in looking over all of the work. However, not all accounting firms are created e…

Here’s why your tax return may be flagged by the IRS

There are several reasons why your tax return may get flagged or audited by the IRS. Here’s how to avoid IRS scrutiny and processing delays.

IRS Tax Tip: Ten Tax Tips For Individuals Selling Their Home

The Internal Revenue Service has some important information for those who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may be able to exclude all or part of that gain from your income.Read more →

David Shapiro: Why can’t the taxman cometh a little later just this once?

How do you know a planned relaxing weekend is headed south?

Nine Questions to Ask Before Hiring a Tax Preparer

Tax season is rapidly approaching and it’s important to do your homework before hiring a tax preparer. Unfortunately, there is no “one size fits all” tax preparer. Interviewing potential preparers is the best way to find out if they are perfect for you. In 2017, the Internal Revenue Service reported that there were over 154 million individual tax returns filed – more than enough potential victims for fraudulent tax preparers to swindle.

Put Your Tax Refund to Work and Enhance Your Home’s Curb Appeal

It’s that time of year again…tax season. The dreaded April 15 deadline also means its spring, and time to start thinking about how your home looks from the outside. If filing taxes means a return f…

Divorce and Taxes Who Claims the Kids on Your Tax Return

Going through a divorce can be challenging, especially if children are involved. Make sure you understand the various tax laws regarding your particular situation. Be aware of the ramifications and tax credits available to you.

Don't Toss Those Tax Records Yet!

Even though the 2017 tax due date has come and gone, and even though you have filed your 2017 tax return, you may still need to keep your 2017 tax records. Generally, tax records are retained for two reasons: (1) in case the IRS or a state agency decides to question the information on your tax returns or (2) to keep track of the tax basis of your capital assets so that you can minimize your tax liability when you dispose of those…

You Can Deduct Pet-Related Expenses On Your Tax Return (Sometimes)

The recently signed Tax Cuts and Jobs Act brought many changes to the tax laws. Unfortunately, your pets still cannot be claimed as dependents on your taxes. However, there are a few circumstances where the IRS will allow specific tax deductions for dogs and other pets, and their related expenses.

I give $30K to charities each year. What happens with my tax return?

Depending on your situation, you may find some tax savings.

What I Wish I had Known Before Taking the CPA Exam

What does obtaining your CPA license entail? Here's what you may want to know before starting the process of getting your own CPA license.

Now’s a great time to purge old tax records

Whether you filed your 2016 tax return by the April 18 deadline or you filed for an extension, you may be overwhelmed by the amount of documentation involved. While you need to hold on to all of your 2016 tax records for now, it’s a great time to take a look at your records for previous tax years to see what you can purge.Consider the statute of limitations

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