So you have decided to take the next step and go forward with selling your business, but you are worried about the tax implications that come along with it—and for good reason. When deciding whether or not to sell, many business owners shy away at the uneasy prospect of their postsale tax liability negating their proceeds.
But if you know what you are doing, then you have nothing to wor…
Our primary goal at Rosillo & Associates is to minimize your tax liability. So whenever we hear about taxpayers who may have missed possible money-saving deductions, credits and refunds, it’s like nails on a chalkboard. Compounding the pity is the fact that most taxpayers do not even realize that they can claim deductions and save thousands for many of the things they do in their everyday…
Starting a new business is a dizzying undertaking, made of equal parts excitement and responsibility. There are a seemingly endless number of things to take care of, boxes to check and hoops to jump through on your way to becoming established and successful. However, along the way many startups fall into the trap of overlooking one of the most necessary components of well-founded business: prop…
Every Spring (and Fall for those of us who filed extensions), millions of honest tax-paying citizens file their returns, willfully submitting their personal information to the IRS, whether it be through attorneys, seasonal tax-employees, tax software or good old-fashioned snail-mail. Unfortunately, every year about this time a percentage of those millions fall victim to tax-related identity the…
Planning for retirement is a no-brainer. The wisest among us are constantly investing back in themselves, looking for ways to save money down the road. One of the reasons the individual retirement account (IRA) is so great is that it is “individual,” meaning it is customizable. You can modify your deposits, take withdrawals at will and even determine what happens to it after you pass away…
So you’re thinking about starting a business in Miami but are not quite sure where to begin. Then you should know right away that it takes more than just a highly-developed business acumen and keen eye for a niche market to make your mark in The Magic City.
The first step to running a successful business in Miami is understanding Miami, its people, its culture, its geography, its everyt…
So what separates the people that “win” every tax refund season from those that simply survive it? What do they know that you don’t? For one, they know how to minimize their tax liability.
Reducing the amount you owe is the surest way to get the most money back. Here are a few time-tested tips to lowering your tax liability and boosting your refund next tax season.
Audits aren’t fun. No one looks forward to getting that letter from the IRS because too often such unwelcome correspondence usually means one thing: you owe them money. While the odds of getting audited are fairly low, once the IRS singles you out there is very little you can do to avoid it. There are, however, steps you can take beforehand to decrease your chances of being chosen for that ex…
As a family-run firm with international roots, we understand better than most how complicated managing finances across borders can be. And, in light of the Foreign Account Compliance Act (FATCA), it’s more important than ever to get it right.
That’s because the potential fines are painfully high: a taxpayer can be exposed to hundreds of thousands of dollars for non-disclosure and even, poten…
As is becoming par for the course, significant changes to the tax code (for both personal and corporate taxes) were put into place on January 1st. An understanding of these laws and taking proper steps to address impending issues are essential in keeping you ahead of the curve and set to take on 2014. That is why we have compiled a few of the more impactful changes that may affect you t…
