Tax Preparation

CPA’S for Non-Profits

forensic accounting, book keeping, tax preparation

At DiSalvo And Company we  understand the financial challenges that a non-profit organization must deal with. At DiSalvo and company we have years of experience in non-profit accounting services for charities, churches, and schools. You could say it is one of our specialties. And because we have worked with so many different types of non-profit organizations, we can  relate to your needs and find practical solutions to any problems you may encounter. We know that funding is critical for any non-profit, and providing financial transparency for grantors and lenders is key to obtaining donations. With our support, your members and donors will feel confident that your financial system is reliable and your data is irreproachable.

At our firm, our staff knows that keeping on top of your finances is vital, and to that end we’ve developed customized reporting methods that provide a clear picture of your assets and expenses. These reports are designed to let you track where your money is going so you can carefully monitor expenses and keep costs down. We’ll also help you find efficient ways to exercise internal controls that will prevent fraud.

Best of all, with our assistance you can stop worrying about confusing tax compliance requirements. When the IRS hands down changes to tax laws that could affect non-profits, we’re on top of it. We’ll offer sound advice on how to avoid unwanted scrutiny from the IRS and how to steer clear of any income-generating activities that could incur tax liability. We’ll also prepare your Form 990 tax return at year-end and file it electronically.

Our accounting and tax services for non-profit organizations include:

We are here to help you while you help others. Give us a call, set up an appointment, let’s get something put together for you and your Non-Profit today.

Pete DiSalvo, CPA

Melbourne - Titusville - VeroBeach - Certified Public Accountant

Tax Preparation Time

CPa vero Beach, CPA Sebastian, CPA Titusville

It’s the most wonderful time of the year. All the paper is flowing and the numbers are growing and we’ll be of good cheer. Okay, so for some people this is NOT the most wonderful time of the year. But at DiSalvo & Company CPA’s we both LOVE and hate this time of the year. We love it because we get really busy helping people get the best tax preparation and advice that we can offer. The Fact that some people are going to wait until the very last day to bring in their information, we don’t like so much. But we know it will happen, and so we are prepared.

At DiSalvo and Company, we also wish that people would come and see us more during the rest of the year. There are things they do during the year, that if they had consulted us, we could have helped them to save money, or invest more wisely, but I guess that is a conversation for another day.

So what is it that we do that we think is so wonderful at this most wonderful time of the year? Well, we do offer  business tax preparation services for many different types and sizes  of businesses whether you have one location locally or operations in multiple states. It is our job to check and see about every where that we can save you money so your business can realize higher profits.

Tax Returns for Individuals – we make sure you get your tax return back fast with our income tax preparation services for individuals.  Our deductions or credits so you get the highest tax return possible. In addition to traditional tax preparation, we’re qualified to prepare trust, gift and estate tax returns. We meticulously prepare these types of returns and file them on time to avoid penalties.

You run a non-profit? Have no fear, here at DiSalvo and Company, we  provide Form 990 tax returns for churches, charities, foundations, and other non-profit organizations.

Just please don’t wait until the last minute, make an appointment today. Let’s get this done.

Pete DiSalvo, CPA

 

Happy New Year From DiSalvo & Company

forensic accounting, tax preparation, business planning

It’s a New Year, and I don’t know about you, but I always feel like a new year provides us with a clean slate. Everything that was bothersome about the previous year is temporarily cast aside and I feel like anything is possible. that feeling isn’t often sustainable for a long period of time, but it can pop back up here and there.

Many of our local businesses here in Indian River County and Brevard County experienced rapid growth over the past couple of years and because you all have been so busy, it was hard to spend time looking to the future, or even implementing new processes which could have made things better. But it might be nice to take a few days to stop, breathe and think about what you could do to keep the momentum, while making things work more smoothly. Perhaps there are even ways to increase the profits you make from all of this new business.

With rapid growth there often comes the pitfalls of inefficiency. Perhaps you have simply limped along without a bookkeeper, and without a good software package for tracking leads and closing new customers. Maybe your HR manual is out of date, and your computer systems,, are they running as efficeintly as they could be? Is it time to perhaps invest in your business in order to streamline processes and become more efficient? Do your sales people find it easy to enter orders? Does your back-office personnel have to use different software to track things? Is there one software package that could integrate both, while also being end user friendly?

Sometimes when a company gown too fast, old procedures are patched up enough to keep things going, but they really aren’t appropriate for a larger company, and it could be time to take a moment to look at those things. Talk to your people, if they have come to you from another company, that company may have had some tools which your company could now use. Make certain you get suggestions from the people who will be using the new tools, or you might get push back, which could make any changes less effective.

There will always be people who don’t want to change anything, ever. Here’s hoping that you, as the head of your growing company, are not one of them. Here at Central Comm we are always striving to stay fresh and current, as painful as that can sometimes be. For many folks, even systems that now longer work properly can be more comfortable than learning a whole new way of doing things. But most of the time, once you get past the learning curve, you can find that a different way of doing things which takes advantage of new software or hardware, may make your work life easier.

Pete DiSalvo

Vero Beach Certified Public Accountant

CPA – DiSalvo Logo

 

Self Employment and Home Purchase

moving up to a lrager home, accoutant who plans for home purchases, home purchase qualification, tax preparationNow that the bank statement loans have gone by the wayside because they were abused by some people in the Mortgage Industry, what is the self employed person to do when they want to purchase a home? Continue reading

A Little Advice From a CPA About Getting Married

Scribbled love and marriage symbols on metal cans

I know it’s not even Halloween just yet, there are a couple more weeks to go, but there are some of you who may be thinking about getting married next year. Perhaps even considering purchasing that engagement ring in time for Christmas or New Years? There is lots of advice about how much you should spend on the engagement ring, and on your wedding. Let me be the first to say that I understand how things can get carried away in the heat of the moment, but if there is anyway to plan ahead without creating undue stress, I would strongly advise it. Continue reading

Re-Hiring Former Employees

vero beach forensic accountant, vero beach business development CPA

During the economic downtime of the mid 2000’s there were plenty of employers who were forced to lay off good employees. Now that work has picked up for many of those companies, is it a good idea for them to hire back some of their old workforce? Continue reading

Proof of Health Insurance

tax preparation-VeroBeach-Melbourne-Titusville-FLLast year was the first full year for the mandatory health insurance coverage. Have you received  proof that you had Health Insurance in 2015? If not, better call your insurance provider and obtain a copy of the form BEFORE you file your tax returns or you will be hearing from the IRS.

This is from the Blue Cross Website:

“Starting this year, you will need to show proof that you had health insurance in 2015 when you file your taxes. It’s called Form 1095, and you may receive one or more versions of the form. If you purchased health coverage through the government’s Health Insurance Marketplace, you should have received Form 1095-A from the Marketplace—not your health insurer—by Jan. 31, 2016.

This form will include the information you need to calculate your insurance premium tax credit. You’ll use the information on Form 1095-A to fill the Florida Blue Form 8962. You will need to include Form 8962 with your tax return. If you purchased a health plan directly from a health insurance company like Florida Blue, or have coverage provided by an employer, you will receive either (or both) Form 1095-B or Form 1095-C from your health plan provider and/or employer.

Florida Blue members will receive their Form 1095-B in the mail by March 31. This form shows that you were enrolled in minimal essential coverage in 2015. You can use this form as a reference when you filling out your tax return, but you do not need to file the form with your tax return”

Several of my clients neglected to have that information at hand last year. Please make certain you order them in time this year. The penalties for not obtaining health insurance are no joke.

Pete DiSalvo, CPA

Vero Beach, Titusville and all areas in between.

Melbourne - Titusville - VeroBeach - Certified Public Accountant

 

 

. –

 

 

See more at: https://www.floridablue.com/blog/dont-forget-to-check-this-box-on-your-2015-tax-return?utm_source=newsletter&utm_medium=blog&utm_campaign=spring2016u65&S1=109309251&RTC=8859900010501#sthash.ZOq37Skx.dpuf

Tax Advice From A CPA

Vero Beach Certified Public Accountant

CPA – Front Side

This time of year can be exciting for some, and frustrating for others. For us CPA’s and Tax Accountants it is a little bit of both. It’s exciting when we get Income Taxes filed for our clients. All done and buttoned up nicely. It gets frustrating when our clients only give us half the information, or only parts of the information necessary to file a complete tax return.

At DiSalvo & Company CPA when you are a regular client, we can take what we know from past Tax Returns and use that information to help fill out the current returns. If you are a relatively new client, then we don’t know that much about you yet.

We know that if you want to lower the amount you pay in taxes, then it’s a good idea to fund your IRA or 401k. If you have been actively looking for work there are also certain deductions we can take, that is IF you have kept records.

Have you moved recently for a new promotion or job opportunity? There are expenses relating to relocation which are deductible. According to the IRS.Gov site:

” The distance between your new job and your former home must be at least 50 miles farther than your previous employer is from that home. For example, if your previous commute to work was five miles each way, then the distance from your new job location to your old home must be at least 55 miles.”

“The deduction covers the reasonable expenses you incur to transport your personal effects and household items to your new home. You can even include the cost of renting a storage unit for up to 30 days if you are unable to move into your new home immediately after leaving your former home.

“You can also include the cost of traveling to the new location for yourself and other members of your household. If you drive to the new location in a personal vehicle, you can include the actual cost of oil, gasoline, parking fees and highway tolls. In lieu of using the actual cost of gasoline and oil, the IRS permits you to calculate those costs using the standard mileage rate. For long-distance moves, you can deduct the cost of airline and train tickets.”
At one of our offices we can offer professional advice about what deductions you can use to make certain you only pay the amount of income tax that you should.

Pete DiSalvo CPA

Melbourne - Titusville - VeroBeach - Certified Public Accountant

 

 

 

 

 

 

What About Next Year?

preparing for the new yearYou have gathered all of the information you need for us to prepare your taxes. When you look at this information with a different eye, what do you see? Is it hard to see anything but income and expenses? That’s where we come in. Continue reading

Tax Time is Here!!

Tax economy refund moneyDiSalvo and Company, Certified Public Accounting firm, is ready for you. It’s that time of the year when you dedicate an entire weekend to pulling out all of your receipts, all of your book keeping, and income only to bring them to us. At DiSalvo and Company, we are  a professional service which takes care of all  your accounting & tax preparation needs. Continue reading