BKHM Blog

Everyone at BKHM would like to congratulate Greg Geibel a tax senior for making the Florida CPA Today's 26 Under 36!

Topics: bkhm cpas, CPA, Florida, Greg Geibel

Protect your child's identity!  Each year, more than 50,000 children in Florida become victims of identity theft, and more than $100 million is stolen from children whose identities have been compromised.  Identity thieves target kids because they generally have clean credit histories, and years will pass before the crime is detected.  It's never too early to start protecting your child from identity theft.  Read the full article by clicking here

Topics: bkhm cpas, advocate, Florida

Read about the IRS Clarifies Program for Offshore Accounts, Tax Briefs, Filing Relief and Automatic Tax Deferral to US Participants in Canadian Retirement Plans, Compliance Calendar and much more - BKHM CPAs is always here to assist you with any of your tax matters - Contact us today!

Topics: bkhm cpas, IRS, compliance, taxes

2014-2015 Tax Guide Tax planning is as essential as ever - at the beginning of 2013, many tax rates and breaks were made permanent.  The increased certainty brought by these tax law changes has in some ways made tax planning in 2014 a little easier.

Topics: bkhm cpas, Tax Planning, tax planning guide, ACA

Federal Tax Weekly newsletter for the week of June 19, 2014

• IRS Removes Covered Opinion Rules, Clarifies Other Provisions of Circular 230
• IRS Unveils "Taxpayer Bill of Rights" Revises Communications with Taxpayers
• Washington Report

and much more - click here for the full newsletter!

Topics: bkhm cpas, IRS, Federal Taxes

The IRS recently issued a long list of cost of living adjustments (COLAs) for various Tax Code provisions in 2014 that are dependent upon the CPI-U index average from September 2012 through August 2013. The Tax Code requires that federal income tax brackets and certain other figures be adjusted annually for inflation. Because of inflation and rounding conventions, many provisions increase for 2014.

Topics: bkhm cpas, IRS, tax code, social security

IRS Debuts Final Repair Regs

Business owners have lots of questions when it comes to deciding whether to expense costs or capitalize fixed assets, such as:

Topics: bkhm cpas, IRS, property tax, fixed assets

Valuation is Key as the M&A Market Slowly Heats Up

After a lackluster 2012, domestic M&A activity is on the rise. Small business deal volume was up 62% in the second quarter of 2013 compared to the same period for 2012, according to BizBuySell.com Insight Report, which analyzes private business transactions in more than 70 major U.S. markets. This is the largest year-over-year jump since the M&A bubble burst in 2008, and the second quarter of improvement.

Topics: bkhm cpas, mergers and acquisitions, taxes

Social Security wage base increases to $117,000 for 2014

Social Security News Release, 10//2013

The Social Security Administration has announced that the wage base for computing the Social Security tax (OASDI) in 2014 increases to $117,000 from $113,700, which was the wage base for 2013. The $3,300 increase, which is about 2.9%, is due to an increase in average total wages.

Topics: bkhm cpas, tax, social security

'Tis (Almost) the Season for Gift and Estate Planning

With Thanksgiving just around the corner, many people are thinking about estate planning and making year-end gifts to family members. Last year, taxpayers scrambled to make last-minute asset transfers in case the historically generous gift and estate tax exemptions expired or rates skyrocketed. This year, taxpayers face a calmer estate planning landscape because Congress passed a relatively generous federal gift and estate tax regime.

Topics: bkhm cpas, gift tax, Estate Planning, estate taxes, estate tax