Acosta Tax & Advisory PA specializes in tax preparation, tax filing, and accountancy services for individuals and businesses located in South Florida, including Pembroke Pines, Miramar, and Hollywood. We are a boutique, full-service agency, with over twelve years of experience handling the financial care of individuals, families, and businesses.
In 2012 we saw many tax law changes, and more changes are sure to come in 2013. Seeking the guidance of extensively qualified Certified Public Accountants (CPAs), like founder Julio Acosta, can clarify the process of filing your taxes properly. Like putting together pieces of a puzzle, we specialize in organizing the unique financial situation of our clients and assess the most straightforward path to fiscal gain.
We have maintained loyal, lifelong clients because of our results-driven approach to handling services such as tax filing and planning, accounting, IRS representation, and business consulting. Their financial success speaks for itself- maximum tax refunds with minimal headaches. While we treat each client with care, we know your time is money. Our multiple locations in Broward and Miami allow us to be available, with your convenience in mind.
The Internal Revenue Service (IRS) identifies ‘Ten Tips to Help You Choose a Tax Preparer’. The CPAs at Acosta meet and exceed all of these qualifications, and we have the track record to prove it. We invite you to visit the department pages for more details on our specialized services that will transform your financial wellness.
Many businesses choose to incorporate as a Limited Liability Company (LLC) because of the tax benefits. One major benefit is the ability to deduct the cost of start-up expenses, regardless of how you designate the business for tax purposes. In order to qualify, your LLC must accumulate the expenses before beginning normal operations. You may then deduct the costs after normal operations begin, as operating business expenditures. Below is a list of important LLC tax deductions you need to be taking advantage of as a savvy business owner:
-Cost of items bought for doing business: These costs can be deducted on your Schedule C or Form 1065. There are a variety of categories for expenses, and the IRS takes a close look at each one. Make sure to keep business receipts, records, and what each item was used for in case you are audited or the IRS asks deeper questions. Some taxpayers have even been asked to quantify the amount of money saved or gained by using the purchased item or service. Item categories include:
• Commissions and fees
• Contractor Labor
• Professional services
• Office expenses
• Office supplies
• Meals and Entertainment
-Home Office Deduction: If your LLC is set up in your home, there are specific deductions you may be eligible for.
-Charitable Donations: Any contribution a business makes to a 501(3)c non-profit organization or any recognized charity can be deducted from the company’s taxes. Donations can be used to offset up to 10% of the total taxable income.
-Health Insurance: If the owner of a taxable LLC is also an employee, his or her health insurance premiums for a single or family can be noted as an LLC tax deduction.
-Automobile Expenses: Many businesses rely on automobiles to transport them to business meetings, events, and regular daily business activities. Expenses can be deducted. Mileage, fuel and repairs can all be covered as business tax deductions. Maintain receipts or miles driven for business purposes, and claim specific amounts on your tax return. Note: If a company buys or leases a car that is specifically a company car, and is only used for business, the lease or purchase amount can be deducted as a business expense.
The qualified Certified Public Accountants at Acosta Tax & Advisory have extensive experience preparing taxes and bookkeeping for LLCs. We know the ins and outs, and will ensure your LLC receives the maximum tax return with minimal hassle. Call us today at 954-674-0076 to schedule your free consultation, or visit mycpa.net for more details on our services.