727·330·3500    ·    Denise Mensa-Cohen, Enrolled Agent    ·    Office Located in Clearwater, Florida
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Phone: (727) 330-3500
Tax Experts & IRS Problem Solvers Licensed to Practice Before the IRS Denise Mensa-Cohen, Enrolled Agent
Do You Sell Products? How QuickBooks Can Help You Track Them

One-Time Thing: IRA to HSA transfer

by | Nov 13, 2023 | Tax Advice

Did you know that you can transfer funds directly from your IRA to a Health Savings Account (HSA) without taxes or penalties? Under current law, you’re permitted to make one such “qualified HSA funding distribution” during your lifetime. Typically, if you have...
Do You Sell Products? How QuickBooks Can Help You Track Them

Is Disability Income Taxable?

by | Nov 8, 2023 | Tax Advice

If you may be eligible for disability income should you become disabled, it’s important to know whether that income will be taxable. As is often the case with tax questions, the answer is “it depends.” Key Factor The key factor is who paid it. If your employer...
Do You Sell Products? How QuickBooks Can Help You Track Them

Tax Treatment of Cryptocurrency

by | Oct 29, 2023 | Tax Advice

Questions surrounding the tax treatment of cryptocurrency are complex. According to recent IRS Revenue Ruling 2023-14, the process of verifying ownership of cryptocurrency is called “ staking.” And when a taxpayer has successfully staked his or her units of...
Do You Sell Products? How QuickBooks Can Help You Track Them

What Exactly Is a “Small Business”?

by | Oct 24, 2023 | Tax Advice

Although your business may seem big to you, you may wonder how the government classifies it. A recent report by the Joint Committee on Taxation, a nonpartisan committee of the U.S. Congress, discusses what a “small business” is for tax purposes. As the report states,...

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