Carrera Business Advisors & CPAs

Generally, if you're over age 59½, withdrawals of Roth IRA earnings are tax-free. But there’s one more requirement: Your Roth must have been open at least 5 years. The countdown clock starts on Jan. 1 of the year you made your very first Roth IRA contribution; it doesn’t apply to each contribution separately. Have questions? Let’s talk before you launch any Roth IRA withdrawals. Contact us at (305) 699-6120.

Small business owners: Don’t leave money on the table! From tax credits to equipment deductions, there are several tax relief programs that can boost your bottom line. https://bit.ly/4kqC1GP

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Tax Relief Programs for Small Businesses | www.financialhotspot.com Running a small business comes with a variety of challenges. From managing payroll to staying competitive in your market, the responsibilities can seem endless. One of the most pressing issues small business owners face is managing tax obligations. If you've ever felt overwhelmed by your tax burden,...

Planning your legacy? CPAs are essential partners in estate planning and ex*****on. From tax optimization to asset distribution, we ensure your wishes are honored with precision. https://bit.ly/4ke6KHt

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The Role of CPAs in Estate Planning and Ex*****on | www.financialhotspot.com Estate planning can feel like an overwhelming process, but it's a crucial step to ensure that your financial legacy is protected and distributed according to your wishes. Certified Public Accountants (CPAs) play an integral role in this process. With their financial expertise and strategic planning....

Attention! Did you know that if you have seriously delinquent tax debt, you could lose your passport? The IRS can "certify" unpaid federal tax debts over $64,000 to the U.S. State Department, which can then deny or revoke your passport. This means no new passport applications or renewals until your tax issues are resolved. If you're overseas, you might only get a limited-validity passport to return to the U.S. What's unpaid federal tax debt? It includes individual income taxes, trust fund recovery penalties, business taxes for which taxpayers are personally liable and other civil penalties. Questions? Contact us at (305) 699-6120.

Dealing with international taxes? Tax treaties can help you avoid double taxation, reduce tax rates, and simplify compliance. https://bit.ly/3ZtXK8G

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Understanding Tax Treaties and Their Benefits | www.financialhotspot.com Tax treaties might seem complex, but understanding them can help you save money and avoid double taxation. Whether you're an expat, a business owner operating internationally, or just curious about how countries work together to simplify taxation, this guide is for you. Let's dive into what tax trea...

For those age 50 or older, a great way to make up for not having saved enough for retirement in the past (or to simply maximize your tax-advantaged nest egg) is to make “catch-up” contributions to a 401(k), 403(b), 457 plan, SIMPLE or IRA. New starting in 2025, if you’re age 60 to 63, you can boost your 401(k) or other employer-sponsored retirement plan contribution even more: up to 150% of the regular catch-up limit. For 2025, this means a catch-up contribution of $11,250 ($5,250 for SIMPLEs). Want to make the most of tax-advantaged retirement savings opportunities? Let’s talk! (305) 699-6120

A levy is one way the IRS collects taxes that aren't paid voluntarily. It involves the IRS legally seizing money or assets to satisfy a tax debt. A levy could include a person's wages, bank accounts, Social Security benefits and retirement income. The IRS may also levy and sell assets such as a car, boat or real estate. In addition, if a person has an outstanding tax liability, the IRS will take any unpaid federal tax refunds to offset the amount owed. Any state income tax refund due may also be levied, and the proceeds applied to a tax liability. Contact us with questions at (305) 699-6120.