Maax & Company, LLC

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As you likely know, marital status affects many federal tax filing requirements, including your standard deduction, cred...
08/29/2025

As you likely know, marital status affects many federal tax filing requirements, including your standard deduction, credit eligibility and tax owed. However, you may not know that informally separated couples are considered married by the IRS. Unless you became divorced or legally separated by Dec. 31, you must file as married filing jointly or married filing separately for the tax year. If, on the other hand, you finalized a divorce or legal separation during the year, you should file as single or head of household (if eligible) for the entire year. Annulments may be subject to different filing rules. Contact us at (305) 310-2994 with questions about your situation.

Thinking about saving for a child’s education? A Section 529 plan is a tax-advantaged option. There are two types: savin...
08/27/2025

Thinking about saving for a child’s education? A Section 529 plan is a tax-advantaged option. There are two types: savings plans and prepaid tuition plans. The right plan for you depends on factors such as your financial goals, where the child might attend school, and what costs you want to cover. Let’s review your options together. Call us at (305) 310-2994.

If you sell your home, you may be eligible for a major tax break: A tax exclusion for up to $250,000 of gain on the sale...
08/26/2025

If you sell your home, you may be eligible for a major tax break: A tax exclusion for up to $250,000 of gain on the sale ($500,000 for joint filers). But there are several requirements. One is that the home must be your principal residence. If you’re thinking about selling a vacation home, consider whether you could convert it to your principal residence first to take advantage of the gain exclusion. Or convert it to a rental property for different tax-saving opportunities. Let’s talk about your options. Contact us at (305) 310-2994.

Few estate planning subjects are as misunderstood as probate. It’s a legal procedure in which a court establishes the va...
08/25/2025

Few estate planning subjects are as misunderstood as probate. It’s a legal procedure in which a court establishes the validity of your will, determines the value of your estate, resolves creditors’ claims, provides for the payment of taxes and other debts, and transfers assets to your heirs. Depending on applicable state law, probate can be expensive and time consuming. There are strategies to avoid (or minimize) probate. For smaller estates, title assets in a manner that allows them to be transferred directly to your beneficiaries outside your will. Contact us at (305) 310-2994 with questions.

Not everyone is legally required to file a tax return, so it may be tempting to skip it. But if you had federal income t...
08/22/2025

Not everyone is legally required to file a tax return, so it may be tempting to skip it. But if you had federal income tax withheld, made estimated payments or qualify for a refundable tax credit, you could be missing out. The Child Tax Credit is for those with qualifying children under age 17. The Credit for Other Dependents is for those who support certain others, including their parents or children 18 and older. Both of these credits begin to phase out at income limits that are fairly generous. If you paid higher education costs for yourself or an eligible student, you may qualify for an education credit. Contact us at (305) 310-2994 or learn more from the IRS: https://bit.ly/3RNQJeB

Struggling with tax debt? An Offer in Compromise (OIC) might be the solution if you’re eligible. The IRS allows qualifie...
08/20/2025

Struggling with tax debt? An Offer in Compromise (OIC) might be the solution if you’re eligible. The IRS allows qualified taxpayers to settle their debt for less than the full amount owed. If you're facing financial hardship, an OIC can help you get back on track while avoiding overwhelming penalties. The process requires proper documentation, negotiation and a $205 nonrefundable application fee. Be aware that most offers aren’t accepted. But in the right situation, it can significantly reduce an individual’s tax burden. Contact us at (305) 310-2994 to see if you’re a candidate.

Static budgets can quickly fall out of sync with reality in today’s volatile markets. Rolling forecasts offer a smarter,...
08/19/2025

Static budgets can quickly fall out of sync with reality in today’s volatile markets. Rolling forecasts offer a smarter, more flexible approach, updating your projections throughout the year to reflect real-time changes in your business, industry and market. They complement your annual budget and help you make better decisions, faster. Want to improve your forecasting and budgeting? Let’s talk. Call us at (305) 310-2994.

The IRS generally follows strict collection processes but acknowledges that some people face real hardships. In such cas...
08/18/2025

The IRS generally follows strict collection processes but acknowledges that some people face real hardships. In such cases, the IRS may assign a tax debt to “currently not collectible” status until the debtor’s financial condition improves. While the debt remains unpaid, the total will continue to rise due to penalties and interest. Also, a federal tax lien may be filed, giving the government an interest in the individual’s assets. The IRS doesn’t grant this status lightly. It demands extensive financial proof, which can feel like an uphill climb. Contact us for help with tax debt at (305) 310-2994.

What should you do if you receive a tax refund that’s more than you’re entitled to? Or what if you receive one that you’...
08/15/2025

What should you do if you receive a tax refund that’s more than you’re entitled to? Or what if you receive one that you’re not entitled to? Handling these situations largely depends on the details. A paper check refund should be voided and returned within 21 days of receipt to the address in the link below. But suppose you cashed the check. In that case, submit a personal check within 21 days to that address. If the refund was by direct deposit, contact your bank to have them return the deposit. Also, contact the IRS at the phone number in the link. A check for an amount different than expected should include a brief explanation. For more information, contact us at (305) 310-2994 or visit: https://bit.ly/4bIFVXW

Avoid underpayment penalties by staying on top of estimated tax payments and paycheck withholding. If you expect to owe ...
08/13/2025

Avoid underpayment penalties by staying on top of estimated tax payments and paycheck withholding. If you expect to owe at least $1,000 in taxes after subtracting credits and withholding, quarterly estimated payments may be required. Withholding and estimated payments must generally cover 90% of this year’s tax or 100% of last year’s tax (or 110%, depending on your income). Unsure if you’re on track? Let’s review your situation now to help avoid surprises when you file your 2025 return next year. Call us at (305) 310-2994.

Running a business is complex. We can make it simpler. Our team offers full-service accounting, bookkeeping, tax and adv...
08/12/2025

Running a business is complex. We can make it simpler. Our team offers full-service accounting, bookkeeping, tax and advisory services tailored to your business goals. Whether you're launching a startup or scaling an established company, we can help you plan strategically. Contact us at (305) 310-2994 to learn how we can be a partner in your success and provide you financial peace of mind.

Worried about market volatility and losses in your portfolio? Remember, losses aren’t truly losses until they’re realize...
08/11/2025

Worried about market volatility and losses in your portfolio? Remember, losses aren’t truly losses until they’re realized; in other words, until you sell an investment for less than what you paid for it. If you hold on to the investment, it might recover. But if you do decide to sell, know that realized losses have a silver lining: They can offset realized capital gains. So if you’re sitting on appreciated assets, this could help you divest tax efficiently. Call us at (305) 310-2994 for more information. (Also, keep in mind that there are important factors to consider besides taxes.)

Address

2201 Palm Ave, Suite 201
Miramar, FL
33025

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+13053102994

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