Martin Abitz Tax Service

What Can a CPA Do that a Regular Accountant Can’t?

What can a CPA do that a regular accountant can’t? That’s what we’d like to address today.

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

What Are Account Detail Types in Quickbooks?

If you’re planning to keep track of your business’s financial records using Quickbooks, you’ll need to familiarize yourself with the accounting software’s detail types. Whenever you create an account in Quickbooks — expense account, income account, liability account, etc. — you’ll be prompted to choose a detail type. It’s important that you choose the right detail type because this will affect the subcategory in which the…

Is Hiring a CPA Worth it? 5 Tips for Getting Your Money’s Worth

Often when people find out I’m a tax accountant, I get asked, “How much does a CPA cost?” It’s like me asking “How much does a home cost?” We all understand that a 1,000 square-foot home in Kansas has a different cost than a 1,000 square-foot penthouse condo in New...

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…

5 Tax Tips for Millennials

Winging it on your taxes? You could be missing out on significant savings or worse yet, be endangering your finances and freedom by not knowing the basics.

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.

Here Are 5 Ways Pets May Qualify You for a Tax Break 

Dog dependents? Cat deductions? A TurboTax expert breaks down the tax breaks available to pet owners and animal lovers

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.

The 3 Forms of Authentication & How We Use Them

Authentication is a security process that began long before the age of computing. Only in our current parlance, does it seem linked to our personal digital security. To quote from Wikipedia: “In contrast with identification which refers to the act of stating or otherwise indicating a claim purportedly attesting to a person or thing’s identity, authentication is the process of... Read more »

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.

What Landlords Need to Know about Iowa's New Water Service Excise Tax

Effective July 1, 2018, in the state of Iowa is a new Water Service Excise Tax (“WET”), which was passed as SF 512. Iowa landlords who furnish water...

Late friend's beneficiary probes tax consequences

Does Major Dental Work Count as a Deduction for Income Tax?

Major dental work such as braces and dental surgery can cost thousands of dollars. Even routine visits to the dentist can get pricey. The Internal Revenue Service considers dental care costs a medical expense. However, that does not automatically mean major dental work will count as a deduction for income tax purposes.

Take advantage of these 16 commonly missed tax deductions

Don't miss out on these lesser-known tax deductions.

Ramp up your tax savings from gifts to charity

If you have a corporation in your life that holds some investments, this idea could be for you

How to Make Tax File Sharing More Efficient

Obtaining digital tax files doesn't have to be a chore