JM CPA Group

JM CPA Group Accounting for Tomorrow ™

You may have heard you need at least $1 million (or $750,000 or $3 million or another number) saved before you retire. T...
02/11/2026

You may have heard you need at least $1 million (or $750,000 or $3 million or another number) saved before you retire. The truth is, “your number” is specific to you. How much you need for a secure and fulfilling post-work life depends on factors such as your current income, your desired retirement lifestyle and whether you hope to leave a legacy to heirs. Contact us (305) 677-3677. We’ll review your situation together and come up with a retirement savings plan — including a number.

For small business owners, investing in new equipment, expanding facilities or launching a new product can be a big deci...
02/10/2026

For small business owners, investing in new equipment, expanding facilities or launching a new product can be a big decision. With limited funds, it’s essential to pinpoint the opportunities that deliver the most value. Financial models like accounting payback, net present value and internal rate of return offer a disciplined, data-driven approach to evaluating your options. We can help you apply these models to make confident, informed capital-budgeting decisions that fuel long-term success. Call us at (305) 677-3677 to get started.

Filing your income tax return early can help protect you from tax refund fraud, a scam in which thieves file bogus retur...
02/09/2026

Filing your income tax return early can help protect you from tax refund fraud, a scam in which thieves file bogus returns using victims’ Social Security numbers. It can cause big headaches and delay legitimate refunds. But if you file first, it will be the return filed by a potential thief that will be rejected, not yours. Call us at (305) 677-3677 to get your return preparation started.

When natural disasters strike, tax deadlines shouldn’t add to your stress. Generally, taxpayers have had three years fro...
02/06/2026

When natural disasters strike, tax deadlines shouldn’t add to your stress. Generally, taxpayers have had three years from the April filing deadline for the tax year to claim a credit or refund for overpaid taxes. But when the IRS extended filing deadlines for disasters such as wildfires, floods or hurricanes, the three-year period didn’t always adjust accordingly. The Disaster Related Extension of Deadlines Act, signed into law on Dec. 26, 2025, addresses this issue. Now, when the IRS extends filing deadlines due to federally declared disasters, the period to claim refunds and credits is also extended. The new law also aligns payment deadlines with filing relief. Call us (305) 677-3677 at with questions.

Grantor-retained annuity trusts (GRATs) and grantor-retained unitrusts (GRUTs) allow you to give assets to your children...
02/04/2026

Grantor-retained annuity trusts (GRATs) and grantor-retained unitrusts (GRUTs) allow you to give assets to your children today while you receive payments back from the trust for a specified term. And, provided you survive the trust’s term, you’ll remove the assets from your taxable estate at a reduced value for gift tax purposes. At the end of the term, the principal may pass to the beneficiaries or remain in the trust. Contact us at (305) 677-3677 for additional details.

For 2026, you generally can contribute up to $7,500 pretax to an employer-sponsored child and dependent care Flexible Sp...
02/03/2026

For 2026, you generally can contribute up to $7,500 pretax to an employer-sponsored child and dependent care Flexible Spending Account (FSA). This $2,500 increase over the 2025 limit was part of the major tax legislation that was signed into law in 2025. An FSA pays or reimburses you for qualified child or dependent care expenses. (Your contributions will, however, reduce your qualified expenses for purposes of the child and dependent care tax credit.) Contact us at (305) 677-3677 to learn more about tax breaks for families.

To make confident business decisions, you need a clear view of your cash position. The statement of cash flows reveals h...
02/02/2026

To make confident business decisions, you need a clear view of your cash position. The statement of cash flows reveals how money moves in and out of your business. It’s usually organized into three sections: 1) Cash flows from operations reflect day-to-day activity. 2) Cash flows from financing activities show how you use debt and equity to fund growth. 3) Cash flows from investing activities capture how you’re building for the future. Together, they tell the real story behind your numbers. We can help you interpret trends, spot risks and manage cash flow to strengthen your business strategy. Call us at (305) 677-3677 to learn more.

The IRS has issued the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs. Effective Jan. ...
01/30/2026

The IRS has issued the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs. Effective Jan. 1, 2026, the standard mileage rate for the business use of a car, van, pickup truck or panel truck is 72.5 cents per mile. (This is up from 70 cents per mile for 2025.) The 2026 rate for medical or eligible moving purposes is 20.5 cents per mile. (This is down from 21 cents per mile for 2025.) For charitable driving, the 2026 rate is 14 cents per mile (unchanged from 2025). These rates apply to gasoline- and diesel-powered vehicles as well as electric and hybrid ones. To protect your deduction, don’t forget to keep detailed mileage records. Contact us at (305) 677-3677 for more information on when mileage is deductible.

When you file your 2025 income tax return, you can deduct your charitable donations only if you itemize deductions. But ...
01/28/2026

When you file your 2025 income tax return, you can deduct your charitable donations only if you itemize deductions. But beginning with donations made in 2026, people who take the standard deduction instead of itemizing can claim a charitable deduction of up to $1,000 ($2,000 for married couples filing jointly). Only “cash” donations qualify, but the definition may be broader than you think. It includes gifts made by debit or credit card, check, ACH, online payment platform and payroll deduction. Call us at (305) 677-3677 to discuss what you can deduct on your 2025 return and your donation strategy for 2026.

Bookkeeping software helps small businesses track income, reconcile accounts and generate reports. But technology can’t ...
01/27/2026

Bookkeeping software helps small businesses track income, reconcile accounts and generate reports. But technology can’t replace professional judgment or real-world experience. An outside bookkeeping or accounting professional adds context and clarity to your company’s financial data. We can help you interpret results, stay compliant with changing tax laws, manage cash flow and make smarter business decisions. Contact us at (305) 677-3677 to turn your financial data into a strategic plan that drives growth.

The IRS considers a paper return that’s due April 15 to be timely filed if it’s postmarked by midnight. Sounds straightf...
01/26/2026

The IRS considers a paper return that’s due April 15 to be timely filed if it’s postmarked by midnight. Sounds straightforward, but let’s say you mail your return with a payment on April 15, and the envelope gets lost. You don’t figure this out and refile until a couple of months later. Despite your efforts to timely file and pay, you can still be hit with both failure-to-file and failure-to-pay penalties. One way to minimize this risk is to use certified or registered mail or an IRS-approved private delivery service. A better way is to work with a tax professional who’ll e-file your return and help ensure you claim every break you’re entitled to while staying compliant with tax law. Contact us at (305) 677-3677 to start your 2025 return.

Address

780 NW 42nd Avenue Suite 1
Miami, FL
33126

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+13056773677

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