BlogYour Inside Look at Saltmarsh

Tax Scam Alert: Fudging Your Deductions

3/17/2017 - By John Mascaro, CPA

You are supposed to pay no more than the taxes you owe. 

But,… no less.

Some taxpayers still think they can fudge their numbers and play “audit roulette” with the IRS hoping that they won’t get caught underreporting income or inflating their deductions.  Over the years, the IRS has implemented numerous systems and software programs to improve its ability to detect such things – often with dire consequences to taxpayers when they get that scary letter in the mail informing them that they are being audited.

This is why falsely claiming deductions, expenses or credits on tax returns remains on the annual “Dirty Dozen” list of tax scams.

 

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Do These 7 New Tax Rules Impact You? 2017 Edition

3/9/2017 - By Claire Poirier, J.D.

A new year brings new changes from the IRS. Here is a short list of changes that may affect your 2016 tax return. Please feel free to contact your tax advisor with any questions or concerns you may have about these changes. 

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Doss Moderates UWF Women in Leadership Panel

3/6/2017 - By Zachary Farrington

Our firm had the opportunity to attend the 4th Annual Women in Leadership Conference: Designing Your Future, hosted by the College of Business Executive Mentor Program at the University of West Florida. The conference was created to help develop women into leaders through empowerment, support, and connections. The day consisted of inspiring speeches, engaging panel discussions, and fulfilling conversations with prominent women from all over the area.

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Important HMDA Changes effective in 2017 and 2018 pursuant to the CFPB's 2015 HMDA Rule

2/28/2017 - By Kristen Stogniew, Esq., CFE

Happy HMDA submission day. Hopefully all of you have reviewed your LARs and feel pretty good about their accuracy. Now, it's time to start thinking about collecting 2017 data.

First, did you have less than 25 home purchase and refinance entries on your 2016 or 2015 LAR? If so, then you can celebrate, at least temporarily, because you are not subject to HMDA data collection and reporting in 2017. (...we will pause to give you a moment to celebrate...)

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Need Guidance on Guidance Lines of Credit?

2/15/2017 - By Jennifer Paradise, CRCM

It's that time of the year again - to scrub your HMDA-LAR!  For some reason, the topic of Guidance Lines of Credit (GLOC) seem to boggle the minds of lenders and compliance officers, as it pertains to HMDA.  So, here's some guidance.

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Saltmarsh CPA - Who We Are

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