Resource HubPosts By Category


4 Painless Ways to Achieve Financial Security

10/30/2022

We all know that it's never too early to start planning for retirement or to start building a nest egg for future expenses. Financial security is a goal that we all have in mind, but are you taking advantage of the easy opportunities that can help you accelerate the process? Other than utilizing sensible spending habits, here are some quick strategies to help you reach financial security sooner than you think.

Read Full Article


Natural Disaster Casualty Losses

9/26/2022

Did you know that losses of property due to natural disasters are deductible as personal casualty losses on your tax return? This means if you suffered damage from Hurricane Sally that resulted in your property losing value, you might be entitled to a tax deduction for that loss.

Read Full Article


Inflation Reduction Act of 2022

9/2/2022

President Biden signed the Inflation Reduction Act into law at a White House ceremony on August 16, finalizing legislation intended to address inflation by paying down the national debt, lowering consumer energy costs, providing incentives to the production of clean energy and reducing healthcare costs. The Act contains several credits that would be of interest to individuals and businesses.

Read Full Article


Estate Planning with a Revocable Trust: A Case Study

8/15/2022

Clients often ask about how a revocable living trust operates during their lifetime, when it becomes irrevocable, how it interacts with their last will and testament and the benefits of creating a revocable living trust. 

Read Full Article


State and Local Tax: Basics to Consider

7/8/2022

As the growth plans of a business include expanding into new states, there are numerous tax, licensing and permitting issues to consider. Even if your business already operates in more than one state, you should be aware that in recent years many states have become more and more aggressive in enforcing tax and licensing requirements.

Read Full Article


Webinar Recording: Tax Benefits of Owning Investment Properties

6/29/2022

There are many tax benefits to owning investment and rental properties that some owners may not be aware of when the time comes to file taxes. 

Read Full Article


Tax Breaks for Businesses and Self-Employed Taxpayers

6/2/2022

As the 2021 tax filing season progresses, small businesses and self-employed taxpayers should make certain they are taking advantage of all of the tax deductions and opportunities available to them on their 2021 federal income tax returns. Tax savings increases after-tax cash flow and can mean greater return on investment and more money to fund expansion and the overall growth of the business. The following are 10 top tax breaks for small businesses and business owners to keep in mind when finalizing their tax returns for 2021 and planning for 2022.

Read Full Article


Sponsoring a Health & Welfare Benefit Plan: Are You 5500 Compliant?

5/20/2022

Health & Welfare Plans provide benefits such as medical, dental and life insurance. In 2002, the Form 5500 filing requirement was amended by the IRS, but many initially believed that the requirement had been fully suspended. However, the requirement was only lifted for some employers. However, for others (those not meeting the exemptions), the requirement remained in place and continues to be an annual requirement. So, you might be asking, “Who is required to file a Health and Welfare 5500?”

Read Full Article


Biden Administration's FY 2023 Budget Plan Calls for Corporate Tax Hikes

5/19/2022

The fiscal year 2023 budget blueprint, released by the Biden administration on March 28, reflects the President’s policy objectives. It consists of a mix of familiar proposals and brand-new initiatives. The proposals are described in more detail in the General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals, better known as the “Green Book,” that was released with the budget, and include the President’s now-familiar calls for increasing the top corporate tax rate to 28%.

Read Full Article


Biden Administration's FY 2023 Budget Plan Calls for Tax Hikes on High-Net Worth Individuals

5/10/2022

The Biden administration’s fiscal year 2023 budget blueprint, released on March 28, consists of a mix of familiar proposals and brand-new initiatives that reflect the President’s policy objectives. The proposals are described in more detail in the General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals, commonly referred to as the “Green Book,” that was released with the budget, and include the President’s now-familiar calls for increasing the top individual rate to 39.6%. 

Read Full Article


Cristine Torrefranca, CPA, Elected Treasurer of Bay Area Manufacturers Association (BAMA)

4/4/2022

Senior Manager, Cristine Torrefranca, CPA, has been elected Treasurer of Bay Area Manufacturers Association (BAMA) as of March 28, 2022! 

Read Full Article


Have You Maxed Out the Contribution to Your Health Savings Account (HSA) for the 2021 year?April 15, 2022 is fast approaching!

3/31/2022

With the high cost of healthcare, many people with a high-deductible health plan (HDHP) establish a Health Savings Account (HSA) to pay for qualified medical expenses with tax-free dollars. Your HSA will provide you tax savings and flexibility as a wealth-building tool.

Read Full Article


Phew! Done with Payroll Reporting for Another Year!

3/17/2022

If you are a business owner, you probably feel a huge sense of relief after the whirlwind of January, providing employees and the state and federal governments with the payroll tax returns, Form 1095’s for health insurance and preparing all the Form 1099 Misc’s and 1099 NEC’s! Next January, however, will be easier if you will take one easy step. Each vendor should complete a Form W-9 before receiving any payments.  

Read Full Article


Are there State Tax Liabilities for Employers if Employees Work from Home?

1/7/2022

Working from home has become more than a pandemic trend. Many workers have made remote work a condition during their job search. Companies have found it effective in a time where new hires are difficult to find. This begs the question, do states have tax jurisdiction over an entity that adds remote workers in that respective state? 

Read Full Article


Your Action Plan for the CPA Exam

12/20/2021

The CPA exam is one of the last barriers you face in your accounting career. Once you pass, the feeling of academia can truly be left behind. All the hard work spanning years in undergraduate studies, CPA study programs, and maybe even a master’s degree, can come down to four 4-hour examinations.

Read Full Article


Saltmarsh Named One of Forbes' Top Recommended U.S. Tax and Accounting Firms

12/9/2021

We are excited to have been chosen by industry peers for the third time in a row as one of Forbes’ 2022 Top Recommended Tax and Accounting Firms in the U.S. “It is an honor to have the firm recognized for our tax and accounting services for three consecutive years,” said Lee Bell, CPA, Saltmarsh president. 

Read Full Article


Year-End or Year Beginning?

12/8/2021

For most business owners, December is spent trying to keep their heads above water. “Do we have enough inventory? Do we have enough people to serve our customers (or clients or patients)?” It’s hard to plan for the end of the year or the beginning of the new year when you are trying to plan for the next day.

Read Full Article


2021 Year-End Tax Planning Webinar Series

11/17/2021

As another taxing (no pun intended) year comes to an end, business owners and individuals are seeking opportunities to maximize their savings through year-end tax planning. There are many beneficial strategies out there to position oneself for success in the new year and the tax experts at Saltmarsh are here to provide clarity in a multi-part webinar series. Learn more and register!

Read Full Article


And That's A Wrap: Manufacturing Month 2021

11/3/2021

This October, we celebrated Manufacturing Month with client outreach, educational industry webinars and client appreciation happy hours! The goal of Manufacturing Month in Florida is to bring awareness to the manufacturing industry nationwide. We have amazing manufacturing clients at Saltmarsh, so what better time to celebrate them than a month that is dedicated to their industry?

Read Full Article


Lean Thinking Series Part 3: Automation in Business Spending

10/27/2021

Did you know… business adoption of automating the accounts payable process has increased by over 120% between 2018 and 2019? Automating expense and account payable spending is changing the way companies pay their suppliers and manage their cash flow.

 

Read Full Article


Webinar Materials: Streamlining Your Company's Cashflows

10/13/2021

Cash flow in manufacturing is complex, but managing your company's cash flow shouldn't feel impossible. What you need are a few simple, actionable strategies that will take your cash flow management from chaotic to clear and productive.

 

Read Full Article


Webinar Materials: New Lease Standards for Non-Public Entities

9/30/2021

The effective date of the new lease standard codified in Accounting Standards Codification, Topic 842 (ASC 842) is right around the corner for non-public entities. This webinar will discuss reporting challenges created by new standards.

 

Read Full Article


Cryptocurrency - It's Time to Acknowledge the Elephant in the Room

9/20/2021

I never thought I would write about cryptocurrency, but with a current global market cap of $2.24 trillion, it doesn’t really matter what I might think about it anymore. There is simply too much money in this space to ignore it any longer.

Read Full Article


I'm Getting a Raise!

9/7/2021

In the November 2020 election, Florida voters approved to gradually raise the state's minimum wage from $8.56 in December 2020 to $15 per hour in September 2026. On January 1, 2021, the minimum wage increased from $8.58 to $8.65 for non-tipped personnel. After the upcoming increase in September, the employee will see an increase of over 14 percent in just a few months.  

Read Full Article


What's New with the Employee Retention Credit: An Overview

8/27/2021

The Employee Retention Credit (ERC) was created by the Federal Government to encourage small businesses to keep employees on their payroll during the COVID-19 pandemic. The credit includes qualified wages and employer health plan expenses paid to (and on behalf of) employees. Since the enactment of the ERC in 2020, it has been expanded and extended through December 31, 2021.

Read Full Article


Past Posts By Category

Contact Us

DESTIN/FORT WALTON BEACH
(850) 243-6713

ORLANDO
(407) 203-8990

NASHVILLE
(615) 661-0885

PENSACOLA
(850) 435-8300

TAMPA
(813) 287-1111

info@saltmarshcpa.com
(800) 477-7458

2022 Saltmarsh, Cleaveland & Gund • Privacy Policy

Stay Connected

Sign up to receive updates and important information from Saltmarsh!

FIRM FAST FACTS