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Category Archives: Financial Planning

Interview Strategy for Hiring an Accountant in Tampa

Finding the right accountant can be a complex process depending on one’s individual or business needs. Finding an accountant in Tampa considering the variety of quality CPAs, but one must find the right fit for one’s unique needs. An accountant can either provide limited services come tax time, or become an integral part of one’s

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Can a lender collect on a debt after issuing Form 1099-C to the defaulter? and More…

Bankruptcy Can a lender collect on a debt after issuing Form 1099-C to the defaulter? A bankruptcy court says no. A couple failed to pay their home mortgage, and the bank foreclosed, issuing them a 1099-C showing debt discharge income of $5,000, the excess of the mortgage balance over what the house was sold for.

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SK Financial CPA Letter explains recent developments that may affect a client’s tax situation

Dear Client:The following is a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to

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U.S. Savings Bonds

Series E and EE U.S. savings bonds are issued at a discount. The interest is “paid” at maturity when the bonds are redeemed for their full face value. Each year the bond is outstanding, its redemption value increases, with the annual increase in value representing the “interest accrual” for each year. Cash basis taxpayers generally report

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Living Trust 101

  Living Trust 101   A trust, like a corporation, is an entity that exists only on paper but is legally capable of owning property. A flesh and blood person, however, must actually be in charge of the property; that person is called the trustee. You can be the trustee of your own living trust,

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