Tax Advisor Schanel CPA
What You Need to Know About Tax Identity Theft
According to the IRS, tax identity theft dropped by 40% in 2017 compared to 2016. That doesn’t mean you should reduce your vigilance in keeping your information secure. Here’s what...
business tax advisor in jupiter fl CPA
Is Your Small Business Affected by the New Tax Law?
The Tax Cuts and Jobs Act passed in December offers businesses multiple opportunities to save on taxes. A big help for many small businesses comes from the new Section 199A...
business deductions tax advisor in jupiter fl
Watch out for Big Changes to Meals and Entertainment Expenses in the New Tax Law
The Tax Cuts and Jobs Act passed last December includes big changes in the deductibility of meals and entertainment expenses for businesses. The changes in the law may mean you...
How Will the New Tax Law Impact Your Paycheck?
The Tax Cuts and Jobs Act of 2017 brought sweeping changes to individual income tax. And with those changes, you might see changes to your take-home pay. We’ll take a...
Is Your S-Corporation Paying Reasonable Compensation?
No one likes to pay more in taxes than they have to. The desire to minimize taxes makes S-corporations a great choice for many small businesses. Like all pass-through entities,...
How to Calculate Safe Harbor Estimated Tax Payments
Do you have income from sources that don’t automatically withhold taxes? This might be income from investments, rentals, self-employment, or payments for services performed as a contractor. The IRS (and...
How to Exclude Up To $500,000 of Gain on the Sale of Your Home
What would you do with an additional $250,000 or $500,000 of tax-free income?  Selling your home at a gain is one of the few ways the IRS allows you to...
Business miles tax advisor, CPA in Jupiter FL
Don’t Lose Your Mileage Deduction – Track Your Business Miles the Easy Way
The IRS loves to disallow deductions for vehicle expenses, and without the right documentation, you’ll risk losing out on this valuable deduction. Vehicle expenses include the driving you do for...
Mileage deduction tax advisor, CPA in Jupiter FL
Business vs. Personal Use of Your Car: How to Tell the Difference
In today’s always-on world, it’s often hard to tell where your work ends and your personal life begins. With that blurring of lines, it can be difficult to determine when...
Employer insurance tax advice, CPA in Jupiter FL
Reimbursing an Employee for Individual Health Insurance Could Result in Big Fines
Since 1961, an employer was permitted to reimburse an employee for some or all of the premium expenses incurred for an employee’s individual health insurance plan and exclude that payment...
IRS Penalties financial advisor
Tips for Avoiding IRS Penalties
$37,461.22.  That is the dollar amount our team at Schanel & Associates has saved taxpayers this year in IRS penalties through penalty abatement requests.  While we were happy to help...
IRS Scam Artists
IRS Warns of Increasingly Aggressive Scam Artists
The IRS recently issued a bulletin warning taxpayers to be on the lookout for scam artists impersonating the IRS.  These scammers have been resorting to increasingly aggressive scare tactics, such as threatening...
financial advisor wealth management
IRS IP PIN Notice Error
Every year the IRS issues a CP01A notice, which gives victims of identity theft their annual Identity Protection PIN. On January 4, 2016, the new PINs for 2015 were sent...
financial advisor
PATH Act of 2015 Makes Most Tax Extenders Permanent – Part 1
On December 18th, Congress and the President once again agreed to a deal on the tax “extenders” that had expired at the end of 2014 in a piece of legislation...