The professionals at My CPA, PA, offer an array of virtual CPA and CFO services. We strongly focus on two main areas – business and IRS tax services. We are equipped with a Kendall CPA, an in-house tax attorney, a former IRS agent, and more than twelve years of experience. Our team handles day-to-day business accounting services in Kendall, FL, so you can focus on what’s important—running your business.

Kendall, FL, CPA for Your Business

The main goal of a business owner is to make money and to grow continuously. As a Kendall business accountant, we can provide insightful business and accounting services such as:

•  Business consultation and incorporation
•  Monthly bookkeeping and payroll
•  Business tax preparation
•  Profit and loss statements

Kendall FL IRS Tax Resolution Services

With the invaluable expertise of our in-house Kendall tax attorney and former IRS agent, our firm possesses a unique and formidable advantage when representing individuals and businesses dealing with IRS issues. Our team’s capabilities extend far beyond conventional tax legal services, offering a comprehensive and specialized approach to addressing a wide range of tax-related challenges.

Spotlight On: Deducting Car Expenses As a Business Owner

Deducting vehicle-related expenses can provide a large tax benefit for some business owners. To qualify, you or your company must own the vehicle or be responsible for its lease. Further, the vehicle must be used for business purposes. There are two methods to calculate the deduction: the standard mileage rate or actual expenses.

Under the standard mileage rate method, the deduction equals a fixed rate per business mile driven. Commuting between your home and regular workplace does not count toward business miles. However, driving to client meetings or to purchase business supplies would qualify.

Under the actual expense method, a deduction is allowed for the expenses incurred to own and drive your vehicle. For example, these expenses include gas, depreciation, insurance, lease payments, registration fees, and maintenance. Only the portion of these expenses related to the business use of the vehicle qualifies for the deduction. Your choice of method is critical in the first year of business use, as it can affect your future deduction method options. Moreover, keeping detailed records of mileage or actual expenses is vital for substantiating your deduction. Consulting a tax professional can also be beneficial to navigate the tax rules.

We provide virtual accounting services to clients from Brickell, Weston, Miami Lakes, and more.