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1 day ago
3 min

The Top Cash Flow Tips That Medical Practices Need to Follow

By far, one of the biggest issues that most organizations face is and will always be cash flow. This is especially true for medical...

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5 days ago
2 min

Important Times to Seek Assistance

Waiting for your regular appointment to discuss current tax-related issues can create problems or cause you to miss out on beneficial...

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May 16
3 min

When Can You Dump Old Tax Records?

Taxpayers often question how long records must be kept and the amount of time IRS has to audit a return after it is filed. It all depends...

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May 5
4 min

Vacation Home Rentals: How the Income Is Taxed

Vacation Home Rentals: How the Income Is Taxed If you have a second home in a resort area, or if you have been considering acquiring a...

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May 2
3 min

Best Accounting Tips for Auto Repair Shops

If you own or manage an auto repair shop, then accounting and bookkeeping are likely pretty low on your list of favorite past times....

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Apr 27
2 min

May 2022 Individual and Business Due Dates

Individual Due Dates May 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during...

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Tax Issues That Arise When Converting a Home into a Rental

monica4867

Apr 22
5 min

Tax Issues That Arise When Converting a Home into a Rental

With the current substantial appreciation in home values and demand for housing exceeding the available inventory, along with low home...

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Apr 20
3 min

Why Employee Classification is of Paramount Importance

Not too long ago in Orlando, Florida, a federal investigation uncovered a situation where 22 workers were denied overtime by a...

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monica4867

Apr 6
5 min

April 2022 Individual Due Dates

April 11 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during March, you are...

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monica4867

Mar 18
8 min

Charitable Tax Deduction Peculiarities

Charitable contributions are deducted as part of a taxpayer’s itemized deductions on IRS Schedule A, except for the special 2020 and 2021...

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Inheritances Enjoy a Special Tax Benefit

monica4867

Mar 18
3 min

Inheritances Enjoy a Special Tax Benefit

You may hear people use the term “Stepped-Up Basis” that many believe is a tax provision that allows beneficiaries of an inheritance to...

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monica4867

Mar 11
8 min

Gambling and Tax Traps

Although gambling may seem to be a recreational activity for many taxpayers it is not for THE government. They look at it as a source of...

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monica4867

Mar 11
4 min

Cash Flow Solution for Seniors

The annual inflation rate in the U.S. accelerated to 7.5% in January of 2022, the highest since February of 1982, hitting those on fixed...

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“Return being processed” means the IRS received your tax return, but it could still be delayed.

monica4867

Feb 25
2 min

“Return being processed” means the IRS received your tax return, but it could still be delayed.

Many taxpayers use the Where's My Refund tool and wonder what "Return being processed" means for them and their refund. The answer: not...

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monica4867

Feb 25
3 min

March 2022 Individual Due Dates

March 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are...

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Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit?

monica4867

Feb 18
4 min

Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit?

Tax lingo, even without getting into the weeds of the Internal Revenue Code, tax regulations, IRS rulings, etc., can be confusing. Two...

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Managing Your Finances During an Inflationary Period

monica4867

Feb 18
2 min

Managing Your Finances During an Inflationary Period

It’s hard to ignore the real-life impacts inflation is having. While gas and grocery prices are having the most immediate effect, the...

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IRS Stops Using Facial Authentication Software for Access to Online Accounts

monica4867

Feb 11
1 min

IRS Stops Using Facial Authentication Software for Access to Online Accounts

A prior blog article posting included an article about the IRS’ plans to use ID.me facial recognition software for taxpayers and others...

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If You Have a Side Hustle, Be Advised: The IRS is Cracking Down

monica4867

Feb 11
2 min

If You Have a Side Hustle, Be Advised: The IRS is Cracking Down

For several years now, the IRS has required payments made to merchants through various marketplaces, payment processors (credit & debit...

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Hobby or For-Profit Activity? The Answer Makes a Big Difference for Tax Purposes

monica4867

Feb 4
3 min

Hobby or For-Profit Activity? The Answer Makes a Big Difference for Tax Purposes

If you are engaged in an activity that produces income, the big tax question is whether the activity is a hobby or a business. The tax...

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THE TIPPING POINT PODCAST

SMEs for your SMB and individual finances.

At Tehrani & Velez, LLP, we believe in providing accounting services that you can trust. The happiness and satisfaction of our clients is our number one priority. Our team of accountants is committed to performing their services with integrity, excellence, and professionalism. This philosophy underlines our approach to serving each and every one of our valued clients.

BLOG

The Top Cash Flow Tips That Medical Practices Need to Follow

Important Times to Seek Assistance

When Can You Dump Old Tax Records?

Vacation Home Rentals: How the Income Is Taxed

Best Accounting Tips for Auto Repair Shops

May 2022 Individual and Business Due Dates

Tax Issues That Arise When Converting a Home into a Rental

Why Employee Classification is of Paramount Importance

April 2022 Individual Due Dates

Charitable Tax Deduction Peculiarities

Inheritances Enjoy a Special Tax Benefit

Gambling and Tax Traps

Cash Flow Solution for Seniors

“Return being processed” means the IRS received your tax return, but it could still be delayed.

March 2022 Individual Due Dates

Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit?

Managing Your Finances During an Inflationary Period

IRS Stops Using Facial Authentication Software for Access to Online Accounts

If You Have a Side Hustle, Be Advised: The IRS is Cracking Down

Hobby or For-Profit Activity? The Answer Makes a Big Difference for Tax Purposes

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