South Broward Accounting Service - SBAS

South Broward Accounting Service - SBAS Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from South Broward Accounting Service - SBAS, Tax preparation service, 508 NE 13th St., Davie, FL.

New rules now apply when it comes to the tax treatment of vehicles, thanks to the Tax Cuts and Jobs Act. The new law alt...
03/07/2018

New rules now apply when it comes to the tax treatment of vehicles, thanks to the Tax Cuts and Jobs Act. The new law alters the tax rules for many taxpayers and transactions, including the rules governing depreciation or lease deductions for business autos, trade-ins of autos, write-offs for heavy SUVs and deductions for employee-provided autos. For example, for passenger autos placed in service after Dec. 31, 2017, the maximum amount of regular allowable depreciation is increased substantially. To learn how the new law will affect your situation, contact us.

A tax deadline for farmers and fishers nears. In a news release, the IRS reminds farmers and fishers that they can avoid...
03/07/2018

A tax deadline for farmers and fishers nears. In a news release, the IRS reminds farmers and fishers that they can avoid an estimated tax penalty for 2017 if they file their 2017 tax returns and pay the full amount of tax shown on their returns by March 1, 2018. An individual is considered a farmer or fisher for this purpose if two-thirds of his or her total gross income for the tax year, or the preceding tax year, is from farming or fishing.

Natural disasters and other calamities can threaten the financial stability of any company. One way to guard against suc...
02/18/2018

Natural disasters and other calamities can threaten the financial stability of any company. One way to guard against such a predicament is through the purchase of business interruption insurance. Whereas commercial property insurance may cover specified repairs, business interruption policies provide cash flow for revenue lost and expenses incurred while the company shuts down to recover. Not every business needs this kind of insurance, however, so the decision on whether to buy warrants careful consideration. Let us help you assess the benefits and risks. http://bit.ly/2GpG82Y

How much mortgage and home equity loan interest can you now deduct? Prior to the Tax Cuts and Jobs Act (TCJA), you could...
02/18/2018

How much mortgage and home equity loan interest can you now deduct? Prior to the Tax Cuts and Jobs Act (TCJA), you could deduct interest on a total of $1 million in mortgage debt on your principal and second homes and interest on up to $100,000 of home equity debt (subject to conditions). Under the TCJA, from 2018 to 2025, the limit on home acquisition debt is $750,000. But for home loans incurred or refinanced before Dec. 15, 2017, the pre-TCJA limits still apply. Interest on home equity loans isn’t deductible for 2018 (but it’s still deductible on 2017 returns).

The IRS clarifies the effective date of a provision in the Tax Cuts and Jobs Act (TCJA), which prohibits a taxpayer from...
02/18/2018

The IRS clarifies the effective date of a provision in the Tax Cuts and Jobs Act (TCJA), which prohibits a taxpayer from recharacterizing a Roth conversion. The IRS states that, if a traditional IRA was converted to a Roth IRA in 2017, it may be recharacterized as a contribution to a traditional IRA until Oct. 15, 2018. Contact us for more information in your situation. Read the IRS FAQs on this topic here: http://bit.ly/2DpDx88

Consumers immediately increased their out-of-pocket healthcare spending by 60% in the week after receiving a tax refund,...
02/05/2018

Consumers immediately increased their out-of-pocket healthcare spending by 60% in the week after receiving a tax refund, according to a study by JPMorgan Chase & Co. Institute. And spending stayed elevated for about 75 days, during which consumers spent 20% more out of pocket on healthcare than before the refunds. The study, titled “Deferred Care: How Tax Refunds Enable Healthcare Spending,” analyzed how “an important cash infusion” (in this case a tax refund payment) affects the timing of out-of-pocket expenditures on health care. See it at http://bit.ly/2Dgcf3O

A carefully conceived and well written mission statement can serve as a beacon to the world, letting everyone know what ...
02/05/2018

A carefully conceived and well written mission statement can serve as a beacon to the world, letting everyone know what your business stands for. When crafting or updating yours, clearly define your target audience. It no doubt starts with customers, but may also include employees, investors and your local community. Watch the length: A long mission statement may be confusing while a brief one could be overly vague. Also, write in a relatable tone, crafting a distinctive, enduring message that differentiates you from the competition. Let us know how we can help. http://bit.ly/2EluBEw

If your company is over budget at year end, it’s a bit of a disappointment, to say the least. But don’t lose hope. You c...
02/02/2018

If your company is over budget at year end, it’s a bit of a disappointment, to say the least. But don’t lose hope. You can still cut costs to either improve this year’s numbers or perhaps next year’s. Reassess your staffing levels to see if you can reorganize and eliminate underperforming positions.
Also, review your approach to purchasing and consider canceling un- or underused services. Look into downscaling marketing efforts that aren’t paying off, too. Let us conduct a full assessment of your company’s budget and help you find ways to keep it in line. http://bit.ly/2DX5FQn

Tax season is in full swing. The IRS began accepting 2017 federal income tax returns on Jan. 29. The tax agency reports ...
02/02/2018

Tax season is in full swing. The IRS began accepting 2017 federal income tax returns on Jan. 29. The tax agency reports that it is expecting upwards of 155 million returns. More than 70% of them are expected to yield refunds. At least 90% of refunds will be issued within 21 days of receipt of the returns, but refunds that include an earned income tax credit or additional child credit shouldn’t be expected before Feb. 27, 2018. The filing deadline this year is April 17, 2018. Read more at: http://bit.ly/2FvRO3y

Unprepared businesses can have two left feet when a digital disruption hits their industry. Be ready to hop to it with t...
01/19/2018

Unprepared businesses can have two left feet when a digital disruption hits their industry. Be ready to hop to it with the right digital transformation strategy.http://bit.ly/2rpMwEK

For a successful business, opening an additional location to keep the company growing may seem like a no-brainer. Yet th...
01/19/2018

For a successful business, opening an additional location to keep the company growing may seem like a no-brainer. Yet the risks to your existing operations are many. Let’s think it through. http://bit.ly/2FQZoHj

When a business reaches a certain level of success, adding another location might seem like a no-brainer. But be careful...
01/17/2018

When a business reaches a certain level of success, adding another location might seem like a no-brainer. But be careful. First ask yourself some tough questions about whether that new location will grow your company or stretch it too thin. For example, is there a solid strategic plan driving the expansion? Can your current location sustain its success while you set up shop elsewhere? Is the proposed location already overrun with competitors? Are there other, less risky ways to grow? We can help you analyze your financials to answer these questions and many more.

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508 NE 13th St.
Davie, FL
33304

Telephone

+19544355481

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