Mayor Accounting and Consulting Services

Mayor Accounting and Consulting Services A business consultant helping individuals and small businesses with Accounting, Taxes, Business Grow services.

💼 Why Hire Your Kids? The Tax Benefits ExplainedYou can legally hire your child in your business — and if your business ...
10/05/2026

💼 Why Hire Your Kids? The Tax Benefits Explained

You can legally hire your child in your business — and if your business is a sole proprietorship, partnership (parents only) or single member LLC, wages paid to a child under 18 are exempt from F**A and exempt from FUTA if under 21. Up to $16,100 of their 2026 wages can be tax free thanks to the standard deduction.

✅ Tax Advantages
• Income Shifting to a lower tax bracket
• Business Deduction for wages paid
• Possible Family Employment F**A Exception
✅ IRS Requirements
To keep it legal:
• The work must be real
• Pay must be reasonable
• Keep timely, supportable records
💰 How Much You Can Pay?
• Up to $16,100 in 2026 can be tax free to the child
• Paying your child $12,000 can save a parent $4,680–$8,100 in combined income and self-employment taxes.

Hiring your child can significantly reduce taxes when done correctly — but it requires real work, reasonable pay, and full payroll compliance.
📞 Contact us today at (850) 851 6001 to learn how we can help you.

🚨 Business Owners: Are You Paying Yourself the RIGHT Salary?If you’re paying yourself—or a family member who works in yo...
10/02/2026

🚨 Business Owners: Are You Paying Yourself the RIGHT Salary?

If you’re paying yourself—or a family member who works in your business—how did you decide what that salary should be?

💰 Too high?
💰 Too low?
💰 Or based on what the business can afford?

The IRS expects compensation to be reasonable for the services performed and comparable to what similar businesses pay for similar work. This can be especially important when it comes to owner-employees and family members working in the business.

And here’s the part many business owners overlook 👇

Paying a family member can potentially be deductible—but the wages should be for real work, at a reasonable rate, with proper documentation.

So, what actually determines whether a salary is “reasonable”?

📋 Check out these 12 factors to help determine reasonable compensation.

Taking the time to review your compensation practices can help you make informed decisions, maintain proper documentation, and avoid unnecessary tax complications. If you want more information call us to schedule an appointment at 850-851-6001 or visit https://www.mayoraccounting.com/

5 TIPS TO THINK ABOUT!💡Estimating your business income can help you plan how to time your business expenses, so they ben...
10/01/2026

5 TIPS TO THINK ABOUT!

💡Estimating your business income can help you plan how to time your business expenses, so they benefit you the most.

💡If you’re a parent, you can deduct the amounts you pay your kids to work in your business. Kids generally pay less tax than you would since they are likely in a much lower income tax bracket.

💡Use the simplified home office deduction, where you deduct a flat rate per square foot. This method allows you to take advantage of small business tax perks without the stress of lengthy calculations and record-keeping.

💡Keep track of actual expenses for gas, oil, vehicle maintenance, etc. If you use the standard mileage deductions remember you can deduct 72.5 cents a mile from Jan 1-June 30, 2026 and 76 cents a mile from July 1 to Dec 31, 2026.

💡 As a self‑employed professional, you juggle many roles to keep your business running smoothly. Managing finances can be challenging, so hiring an expert accountant is a smart investment—they handle payroll, bookkeeping, and tax planning with specialized expertise.

If you have questions, need your books done or need to file your taxes, call me at 850-851-6001 to schedule an appointment. Visit https://www.mayoraccounting.com/ for more information.

📢 BOI Reporting Update for U.S. BusinessesFinCEN is making permanent the suspension of Beneficial Ownership Information ...
09/29/2026

📢 BOI Reporting Update for U.S. Businesses

FinCEN is making permanent the suspension of Beneficial Ownership Information (BOI) reporting requirements for U.S. companies and U.S. persons.

FinCEN will also delete previously reported information it determines belongs to U.S. persons.

⚠️ Foreign entities may still have BOI reporting requirements for foreign individuals.

Questions about how this affects your business? Call us at 850-851-6001.

*******************************************************************
📢 Actualización sobre los requisitos de BOI para empresas en EE. UU.

FinCEN hará permanente la suspensión de los requisitos de Información de Beneficiarios Finales (BOI) para empresas y personas estadounidenses.

FinCEN también eliminará la información previamente reportada que determine que corresponde a personas estadounidenses.

⚠️ Las entidades extranjeras aún pueden estar sujetas a requisitos de presentación de BOI para personas extranjeras.

¿Tiene preguntas sobre cómo esto afecta a su empresa? Llámenos al 850-851-6001.

💰 **Are You Leaving Money on the Table?**Your business earns the money—**let’s help you keep more of it!** 💵We dig into ...
09/25/2026

💰 **Are You Leaving Money on the Table?**

Your business earns the money—**let’s help you keep more of it!** 💵

We dig into your financials to uncover **potential tax savings, unnecessary expenses, and opportunities to improve your bottom line.** Because smart financial decisions today can mean **more money in your pocket tomorrow.**

📊 Know your numbers.
💰 Find your savings.
📈 Grow with confidence.

**Don’t guess where your money is going—know where you can save!**

📞 Call **850-851-6001** to schedule your consultation and let’s find opportunities to put more money back where it belongs: **in your business.**

💰 **¿Estás dejando dinero sobre la mesa?**

Tu negocio trabaja duro para generar ingresos… **¡ayudemos a que puedas conservar más de lo que ganas!** 💵

Analizamos tus finanzas para ayudarte a identificar **posibles ahorros en impuestos, gastos innecesarios y oportunidades para mejorar tus resultados.** Porque tomar decisiones financieras inteligentes hoy puede significar **más dinero en tu bolsillo mañana.**

📊 Conoce tus números.
💰 Encuentra oportunidades de ahorro.
📈 Haz crecer tu negocio con confianza.

**No adivines a dónde se va tu dinero—descubre dónde puedes ahorrar.**

📞 Llámanos al **850-851-6001** para programar tu consulta y comencemos a buscar oportunidades para que **tu dinero trabaje más para ti.**

Did you file an extension for your 2025 federal tax return? Remember the deadline is October 15, 2026. But if you alrea...
09/07/2026

Did you file an extension for your 2025 federal tax return?
Remember the deadline is October 15, 2026. But if you already have the information you need, filing sooner is almost always the smarter move. There’s no benefit to waiting until the last day.

If you end up owing tax, the IRS offers short‑ and long‑term payment plans and installment agreements for those who qualify. Just keep in mind: any balance that was due on April 15 is already accruing interest until it’s fully paid, so acting quickly can save you money.

If you need help filing your extended return or want to review your current tax situation, call us at (850) 851‑6001. Let’s get you squared away.

Are you a business owner? Don't handle your accounting/tax needs all alone. We are here for you! As professionals, we he...
09/05/2026

Are you a business owner? Don't handle your accounting/tax needs all alone. We are here for you! As professionals, we help you save money and time so you can focus on what you do best! Call us today at (850)851-6001 to schedule a consultation.

The IRS says interest rates will stay the same for the quarter starting October 1, 2026.Here’s what that means:If the IR...
09/04/2026

The IRS says interest rates will stay the same for the quarter starting October 1, 2026.

Here’s what that means:
If the IRS owes you money (an overpayment): you’ll earn 7% interest per year.
If a corporation is owed money: the rate is 6%.
If a corporation is owed more than $10,000: the extra amount earns 4.5% interest.
If you owe the IRS money (an underpayment): you’ll be charged 7% interest per year.
If a corporation owes a large amount: the interest rate is 9%.
These interest rates are recalculated every three months. For individuals, the IRS sets the rate by taking the federal short‑term rate and adding 3%.

Contact us at 850-851-6001 to discuss how we can help with your taxes and accounting needs.

Scholarships can greatly reduce college costs, and most are tax‑free as long as the student is a degree candidate, the f...
09/01/2026

Scholarships can greatly reduce college costs, and most are tax‑free as long as the student is a degree candidate, the funds are used for tuition, fees, books, and required supplies, and the award is not payment for teaching or research. Graduate awards that include compensation may be taxable, and taxable scholarship income could also trigger the kiddie tax. For guidance, call 850‑851‑6001.

Las becas pueden reducir significativamente el costo universitario, y la mayoría son libres de impuestos si el estudiante está en un programa de grado, el dinero se usa para matrícula, cuotas, libros y materiales requeridos, y la beca no es pago por enseñar o investigar. Las becas de posgrado que incluyen compensación pueden ser imponibles, y ese ingreso podría activar el impuesto “kiddie”. Para más información, llame al 850‑851‑6001.

💼 Getting a business loan can feel like being stuck between a rock and a hard place. As an Accountant and former Banker...
08/28/2026

💼 Getting a business loan can feel like being stuck between a rock and a hard place.
As an Accountant and former Banker, I see it all the time — lenders want proof of success before funding, while business owners need funding to succeed. It’s like asking for profits before the check clears!

The secret? Treat your loan as a partnership, not just paperwork. Show lenders your vision, your numbers, and your plan for growth.

📞 Call us at (850) 851‑6001 — we’ll help you present your Financials, so lenders see your potential and your confidence.

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Panama City Beach, FL

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