CFLGCPAs

South Florida CPA firm providing tax, accounting, payroll & advisory services for businesses, real estate pros & individuals. Serving clients since 1972.

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Tax Myth: Buy office furniture and rent it to your corporation to save on taxes.
Reality: This often adds paperwork and tax complications without increasing your deduction. Usually, the corporation should buy the furniture directly. Contact us before trying a new tax strategy.

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Congratulations to Spain on an incredible FIFA World Cup victory! 🇪🇸🏆

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Small business owners: If your business has average annual gross receipts of $32M or less, you may be able to deduct certain inventory costs when purchased, rather than when sold. Contact CFLG to see if you qualify. #TaxPlanning #SmallBusiness #CPA #CFLG

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Does your small business need a boost? How to get a $5,000 grant from Miami-Dade — Miami Herald https://t.co/nW9qSxiTLr

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Today, we celebrate 250 years of the American spirit built on resilience, opportunity, & community.

We're grateful to serve the businesses, nonprofits, & organizations that help others thrive.

From all of us at CFLG, we wish you a safe and Happy 4th of July!

#America250 #CFLG

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CFLG Accountants and Advisors will be closed today, Friday, July 3rd, in observance of Independence Day.

We will reopen on Monday, July 6th.

Wishing everyone a safe and happy holiday weekend.

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This Father's Day, we celebrate the dads/father figures who lead by example and inspire us through hard work, integrity, and perseverance.

Thank you for the guidance, support, and impact you make every day.

Wishing you a happy & well-deserved Father's Day.

#FathersDay #CFLG

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What Is the Required Minimum Distribution (RMD) for a $600,000 Retirement Account? — The Motley Fool https://t.co/lHk4VOhn5r

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Social Security's insolvency date is projected for end of 2032 — CBS News https://t.co/cuulruAnk1

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Partnership partners & LLC members may qualify for tax deductions.

Vehicle costs, home office expenses, business meals, & professional dues may be deductible if they aren't reimbursable by the partnership.

Questions? We're here to help.

#TaxPlanning #LLC #CFLG #TaxTips

[CFLGCPAs @CFLG_CPAs]

Thinking about donating non-cash property to charity?

For non-cash donations over $5,000, the IRS generally requires a qualified appraisal and Form 8283. Missing documentation could mean losing the deduction.

Questions? We're here to help.

#TaxPlanning #CharitableGiving #CFLG

[CFLGCPAs @CFLG_CPAs]

Today, we remember and honor the men and women who gave their lives in service to our country. Their sacrifice and dedication will never be forgotten.

In observance of Memorial Day, CFLG will be closed.

We wish everyone a safe and meaningful Memorial Day.

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Trump Moves to Tighten Banking Access for Non-Citizens — TIME https://t.co/Ce7GQNg3H1

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Businesses can no longer deduct break room coffee & snacks. Employees still receive these benefits tax free; employers will carry the full cost.

Review spending, plan for increased costs, and update accounting.

Questions? We’re here to help.

#TaxPlanning #BusinessOwners #CFLG

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US home sales flat in April as lackluster spring homebuying season lurches forward — The Associated Press https://t.co/dPBrE7jvfP

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Is that IRS tax refund notice asking for your bank account real or fake? — Miami Herald https://t.co/1ZcpaR5ahS

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Fewer condos and houses are for sale in Miami and Broward. Prices could change — Miami Herald https://t.co/4JescbeP2n

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IMF lowers growth outlook, warns of global recession if Iran oil shock is severe — Yahoo Finance https://t.co/GRHNW3GiBQ

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Wishing our clients, colleagues, and friends a blessed Good Friday.

Please note that our office will be closing today at 12:00 PM in observance of Good Friday.

CFLG wishes you a peaceful and meaningful day.

[CFLGCPAs @CFLG_CPAs]

What inventory signals about Florida’s housing market correction — Fast Company https://t.co/yWMkNr42JV