Tax Law
When should you file a 1099-C form for your business with the IRS?
If you are a creditor who has provided loans that have been defaulted on, filing a 1099-C may be one
Silvino Diaz
December 21, 2020
Tax Law
EPGD Business Law
What is Deferred Compensation and How Can Your Business Benefit from it?
Many Florida companies benefit from using deferred compensation plans for a variety of reasons. Some startup companies lack the current cashflow to hire key employees; however, the company might be able to attract the right candidate by tying a portion of the employee’s compensation to future corporate earnings.
Alex Cruz
December 16, 2020
Tax Law
What can you or your Miami business do to reduce your tax bill under the new administration?
On Monday December 14th, 2020 the electors for each state met to confirm President-Elect Biden’s election as the 46th President of the United States. What does that mean for you and your taxes? Well, that all depends on the Georgia senate runoff election in January.
EPGD Law
December 15, 2020
Tax Law
What Forms Do Foreign Individuals and Entities Need to Complete When Investing in The United States?
Miami is home to many foreign individuals and foreign companies that do business in Florida and all over the United
Eric Gros-Dubois
December 8, 2020
Tax Law
Can You Deduct the Costs of Gifts from Your Business Income?
Certain gifts made during the course of the year can be deducted from your business’s taxable income. Of course, the IRS provides several limitations and exceptions, such as a $25 maximum per recipient and exclusion of gifts which are branded with the giver’s name or logo.
Alex Cruz
November 10, 2020
Tax Law
What is a Like-kind Exchange?
A like-kind exchange (also referred to as a 1031 exchange or Starker exchange) can help lower your current tax bill by deferring the tax due on the sale of your property.
Alex Cruz
October 15, 2020
Tax Law
Corporate Change of Control with the IRS
A change in control is a change in the ownership structure of a company. Such change of ownership typically involves another entity or individual acquiring more than 50% of the company’s shares. When such a change in corporate structure occurs, the company must file an “Information Return for Acquisition of Control or Substantial Change in Capital Structure” Form 8806 with the Internal Revenue Service.
Eric Gros-Dubois
July 8, 2020
EPGD Business Law
What Is an Agricultural Tax Exemption in Florida?
The Agricultural Tax Exemption is a property tax exemption that landowners may receive, if they can show that their land is being put to agricultural use. Different states define “agricultural use” in different ways. For example, Florida requires agricultural use to be bona fide. Fl. Stat. § 193.461. “Bona fide agricultural purpose” is defined as a “good faith commercial agricultural use of the land.” Fla. Stat. § 193.461(1)(b) (2009). Some states require the agricultural use to be for commercial purposes, and for some profits to be gained from the land.
Eric Gros-Dubois
June 25, 2020
Tax Law
What is the EIDL Loan?
The EIDL program or Economic Injury Disaster Loan allows the SBA to provide loans of up to $2 million to small businesses that have suffered substantial economic injury. The EIDL reopened its loan program to small businesses on June 15, 2020 after closing to most small businesses in May of 2020.
Oscar Gomez
June 18, 2020
Tax Law
Where Do Online Businesses Source Their Income? Part Two: Income Tax
Just as e-commerce has presented challenges for sourcing sales tax, e-commerce also presents issues for sourcing income taxes. This blog will discuss the income tax implications for online businesses.
Eric Gros-Dubois
May 27, 2020
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