Insights

Source-cited answers for individuals and businesses.

Plain-language explainers on IRS forms, Florida tax rules, ITINs, and business formation for the individuals and businesses we serve across Miami and far beyond, including internationally. Every claim links back to its primary source.

FeaturedIRS & Compliance

Form 1099-NEC vs. 1099-MISC: Deadlines, Thresholds, and What Goes Where

Two different 1099 forms come with two different due dates. Misfiling a payment or missing the February or March cutoff can trigger IRS late-filing penalties. Here is how to get both forms right.

June 22, 20264 min read

All insights

Tax Planning
Real Estate Professional Status: The 750-Hour Test and Grouping Election Explained
Rental real estate is passive by default, so losses can only offset passive income. To qualify as a real estate professional, you must log more than 750 hours in real property trades and those hours must represent more than half of your personal services for the year.
June 19, 20264 min read
Small Business
Florida Sales Tax Registration: What Triggers the DR-1 Requirement
Any Florida business that makes taxable sales, admits customers for a fee, or rents property must register with the Department of Revenue before its first taxable transaction. The registration form is the Florida Business Tax Application, Form DR-1.
June 17, 20264 min read
Individuals
Earned Income Tax Credit 2025: Eligibility Rules and Maximum Credits for Miami Workers
The EITC for tax year 2025 reaches $8,046 for workers with three or more qualifying children. Eligibility turns on earned income, a valid Social Security number, and investment income below $11,950.
June 15, 20264 min read
International Tax
FIRPTA Withholding on Foreign Sellers of U.S. Real Property: Rates, Exemptions, and Form 8288
When a foreign person sells U.S. real property, the buyer must withhold 15% of the amount realized and remit it to the IRS using Form 8288. Foreign sellers can reduce or eliminate that withholding by applying for a certificate on Form 8288-B.
June 13, 20264 min read
Small Business
Tax Guide for Content Creators: 1099-NEC, Schedule C, and Quarterly Payments
YouTube, Instagram, and TikTok creators who earn income from brand deals, ad revenue, or digital products are self-employed under IRS rules. Here is how to report that income, pay self-employment tax, and meet your quarterly obligations.
June 12, 20264 min read
Small Business
Small-Business Bookkeeping for Florida LLCs: What to Track and Why It Matters
Florida is home to over 3.5 million registered business entities. For South Florida small businesses that operate in Spanish, bilingual accounting keeps records compliant, deductions documented, and quarterly filings on schedule.
June 6, 20264 min read
Tax Planning
Net Investment Income Tax: How the 3.8 percent Surtax Applies to Dividends, Rent, and Capital Gains
The 3.8 percent Net Investment Income Tax applies when MAGI exceeds $200,000 for single filers or $250,000 for married filing jointly. Dividends, capital gains, rental income, and royalties can all count. Here is who owes it and how to report it on Form 8960.
June 5, 20264 min read
Small Business
Florida Economic Nexus: What Remote and E-Commerce Sellers Must Know About the $100,000 Threshold
Since July 1, 2021, Florida law requires out-of-state businesses with more than $100,000 in prior-year taxable remote sales to register, collect sales and use tax, and file electronically. Here is what remote and e-commerce sellers need to understand.
June 3, 20265 min read
Tax Planning
Form 709 and the $19,000 Gift Tax Annual Exclusion: A 2026 Guide
Form 709 explained: the 2026 IRS annual gift tax exclusion is $19,000 per recipient and the One Big Beautiful Bill set a $15,000,000 lifetime exemption.
June 2, 20264 min read

Newsletter

Tax and business updates, straight to your inbox.

Join our list for plain-language tax tips, key deadline reminders, and timely updates for individuals and businesses across Miami and beyond.

Have a specific tax or accounting question?

Tell us about your situation. An Enrolled Agent will answer in plain English or Spanish, with the citation behind the answer.

Book an Appointment Talk to an Expert