Manmeet Saluja, CPA EA MBA

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Really!! Funny Friday......

Here's my latest blog

The Role and Benefits of Hiring a Fractional CFO for Your Business - A CPA Firm The Role and Benefits of Hiring a Fractional CFO for Your Business In today’s rapidly evolving business landscape, small to medium-sized enterprises (SMEs) face unique challenges when it comes to financial management. Many businesses don’t have the resources to hire a full-time Chief Financial O...

If you filed an extention for your personal tax return back in April, and the due date was tomorrow, now its extended to May 1 2025.

IR-2024-266: IRS help available to victims of Hurricanes Helene and Milton; May 1 deadline now applies to individuals and businesses IR-2024-266: IRS help available to victims of Hurricanes Helene and Milton; May 1 deadline now applies to individuals and businesses Internal Revenue Service (IRS) sent this bulletin at 10/11/2024 01:38 PM EDT IRS Newswire October 11. 2024 News Essentials What's Hot News Releases IRS - The Basics IR...

The Internal Revenue Service on Friday announced that all taxpayers in Florida now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments following a series of storms including Hurricanes Milton, Helene and Debby.

Per the IRS announcement: "Individuals and businesses in six counties that previously did not qualify for relief under either Hurricane Debby or Hurricane Helene will receive disaster tax relief beginning Oct. 5, 2024, and concluding on May 1, 2025. They are Broward, Indian River, Martin, Miami-Dade, Palm Beach and St. Lucie.

"In addition, individuals and businesses in 20 counties previously receiving relief under Debby, but not Helene will receive disaster tax relief under Hurricane Milton, from Aug. 1, 2024, thru May 1, 2025. They are Baker, Brevard, Clay, DeSoto, Duval, Flagler, Glades, Hardee, Hendry, Highlands, Lake, Nassau, Okeechobee, Orange, Osceola, Polk, Putnam, Seminole, St. Johns and Volusia counties.

"As a result, affected taxpayers in all of Florida now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments, including 2024 individual and business returns normally due during March and April 2025 and 2023 individual and corporate returns with valid extensions and quarterly estimated tax payments."

Good Read....

"For professionals, Gumucio’s case underscores the importance of honest record-keeping, proper tax filings, and ethical business practices."

Yoga Studio Founder’s $2.5M Tax Evasion Story | MY-CPE INSIGHTS Discover how a yoga studio founder dodged $2.5M in taxes and what this case teaches about compliance. Get the full story on MY-CPE Insights!