McDonald & Osborne, PA

McDonald & Osborne, PA Commited to Quality, Service and Ethics while utilizing the latest technology in Tax and Accounting.

Can business debt become personal? In some cases, yes. If you’re a sole proprietor or a general partner in a partnership...
06/23/2026

Can business debt become personal? In some cases, yes. If you’re a sole proprietor or a general partner in a partnership, you’re personally liable for business debts. Owners of corporations and limited liability companies are generally protected from personal liability, unless they personally guarantee a loan, commit fraud or fail to keep business and personal finances separate. Payroll taxes are different. The IRS can assess the Trust Fund Recovery Penalty to hold owners, officers or other responsible individuals personally liable for unpaid withheld payroll taxes, regardless of the business structure. This applies even if the business declares bankruptcy. Call us at (239) 254-8161 with questions.

Has administrative complexity discouraged your business from offering a 401(k) plan? Take a look at the safe harbor 401(...
06/22/2026

Has administrative complexity discouraged your business from offering a 401(k) plan? Take a look at the safe harbor 401(k). The employer contribution obligation generally exempts the plan from nondiscrimination testing and other onerous administrative duties. Plus, this plan enables highly compensated employees to max out their contributions and can help attract and retain workers. Typically, employees are eligible to participate if they're age 21 or older and have at least one year of service. Call us (239) 254-8161 for details.

Artificial intelligence (AI) is changing how almost everything is done, including how fraud is committed. For example, a...
06/20/2026

Artificial intelligence (AI) is changing how almost everything is done, including how fraud is committed. For example, a scammer might use AI to generate “deepfake” voices or “spoof” caller ID information to impersonate IRS agents. AI also makes it easier for perpetrators to establish robocall networks. (The IRS always stresses that it will contact taxpayers via U.S. mail about any tax issues. It won’t leave urgent voice messages or threaten arrest.) Fraud aside, the IRS warns against relying on AI-generated responses to complex tax questions. Be sure to verify AI answers by reviewing IRS instructions and crunching any numbers yourself. Better yet, call us at (239) 254-8161 for assistance.

A summer job is a great way for teens to earn extra cash, but it also comes with tax responsibilities. Anyone with self-...
06/19/2026

A summer job is a great way for teens to earn extra cash, but it also comes with tax responsibilities. Anyone with self-employed income over $400, such as earnings from mowing lawns or babysitting, must file an income tax return and may owe self-employment tax. If a teen works for an employer that withholds payroll taxes, the filing threshold is higher: $16,100 for 2026. In this case, the teen usually won’t owe income tax and may receive a refund if taxes were withheld. Call us at (239) 254-8161 with questions.

Your 2025 individual income tax return can provide a treasure trove of tax-planning ideas for 2026. We can dig into your...
06/17/2026

Your 2025 individual income tax return can provide a treasure trove of tax-planning ideas for 2026. We can dig into your 1040 and uncover potential strategies you can implement this year to reduce your 2026 taxes. We also can assist with filing extended 2025 returns. Call us at (239) 254-8161 to set up an appointment.

An estate plan helps ensure that your assets are distributed according to your wishes. It also can minimize taxes, safeg...
06/16/2026

An estate plan helps ensure that your assets are distributed according to your wishes. It also can minimize taxes, safeguard your minor children and support your charitable goals. If you haven’t reviewed your estate plan recently, call us at (239) 254-8161. We can help assess whether revisions are needed due to tax law changes or a major life event. If you don’t have an estate plan yet, we can help you get started.

Even when your finance and accounting (F&A) team seems to be firing on all cylinders, they may feel burdened with heavy ...
06/15/2026

Even when your finance and accounting (F&A) team seems to be firing on all cylinders, they may feel burdened with heavy workloads and tight deadlines. Bringing in an external accountant can ease the pressure on your internal team and keep your business running smoothly behind the scenes. If your accounting and bookkeeping workload is piling up, we’re here to help. Call us at (239) 254-8161 to learn how we can support your business.

Will Social Security benefits be available when you retire? Good question. These benefits are unlikely to disappear enti...
06/13/2026

Will Social Security benefits be available when you retire? Good question. These benefits are unlikely to disappear entirely. But payments may be smaller, and the qualifying age for full benefits (currently 65 to 67, depending on your date of birth) may increase. So it’s critical to take advantage of tax-deferred retirement vehicles and to make age-appropriate investments that can help you accumulate adequate savings. Call us at (239) 254-8161 to discuss your retirement goals and ways to achieve them.

Boat owners may qualify for federal income tax breaks — but only if the boat meets specific requirements. For example, a...
06/12/2026

Boat owners may qualify for federal income tax breaks — but only if the boat meets specific requirements. For example, a vessel with sleeping, cooking and toilet facilities could qualify as a home for the mortgage interest itemized deduction. Itemizers may also be able to deduct eligible state and local sales tax paid on a boat, subject to applicable limits. Vessels used in bona fide businesses, such as charter fishing or sightseeing, can generate deductible business expenses. Before assuming your boat delivers tax savings, contact us at (239) 254-8161 to learn more. We can help determine your vessel’s eligibility and provide guidance on substantiating any write-offs.

Do your employees pay out of pocket for business travel, meals or supplies? With a properly structured “accountable plan...
06/10/2026

Do your employees pay out of pocket for business travel, meals or supplies? With a properly structured “accountable plan,” reimbursements are tax-free to employees and deductible for your business. (Remember, meals are generally only 50% deductible.) Without an accountable plan, reimbursements count as taxable wages and trigger income taxes for the employee and payroll taxes for both the employee and your business. Contact us at (239) 254-8161 to help ensure your reimbursement practices comply with the tax rules and minimize unintended tax consequences.

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9120 Corsea Del Fontana Way
Naples, FL
34109

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Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 12pm

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