Maax & Company, LLC

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Each year, some taxpayers file their tax returns and eagerly await a refund. But then they find out it’s been reduced or...
07/28/2025

Each year, some taxpayers file their tax returns and eagerly await a refund. But then they find out it’s been reduced or withheld. If a taxpayer has unpaid federal or state tax debt, including child support, the IRS can offset the debt by applying a refund toward it. For some taxpayers, a refund is essential for covering necessary expenses. Losing it can create a hardship. The National Taxpayer Advocate advises eligible taxpayers to document any economic hardship and seek an “offset bypass refund.” Note: this must be done before the IRS offsets the refund, so don’t wait. Contact us with questions: (305) 310-2994

If you’ve recently sold your home and realized a capital gain, you may be able to exclude some or all of the gain from t...
07/25/2025

If you’ve recently sold your home and realized a capital gain, you may be able to exclude some or all of the gain from the sale. To claim the exclusion, you must pass IRS ownership and use tests. During a five-year period ending on the date of sale, you must have owned the home and lived in it for at least two years. If qualified, you may be able to exclude a capital gain of up to $250,000 from your income ($500,000 for married joint filers). Be aware that the exclusion is available only for your main home (not a second home). If you realized a loss on the sale, it’s not deductible. For more information from the IRS: https://bit.ly/3GCMQqz or contact us at (305) 310-2994 with questions.

Having the right estate planning documents in place gives you peace of mind and provides clarity for your loved ones dur...
07/23/2025

Having the right estate planning documents in place gives you peace of mind and provides clarity for your loved ones during difficult times. That should start with a will, which designates who receives your assets and who becomes guardian of your minor children. Without it, state law decides. Also, consider a financial power of attorney and a medical power of attorney. They authorize someone to handle financial matters on your behalf if you’re unable to do so and make medical decisions for you if you’re incapacitated. Contact us at (305) 310-2994 with questions.

Tax savings alert for employers: The Work Opportunity Tax Credit (WOTC) can help your business save thousands in taxes. ...
07/22/2025

Tax savings alert for employers: The Work Opportunity Tax Credit (WOTC) can help your business save thousands in taxes. It involves hiring individuals from targeted groups, including veterans, ex-felons, the long-term unemployed and SNAP recipients. The maximum credit is generally $2,400 per eligible adult employee. But it can be as much as $9,600 for certain veterans. It’s a win-win: You can support your community while improving your bottom line! Let’s talk about how your business can take full advantage of this powerful credit. Contact us at (305) 310-2994 to learn more.

How much time did you spend on accounting and bookkeeping last month? What if you could reclaim those hours and reinvest...
07/21/2025

How much time did you spend on accounting and bookkeeping last month? What if you could reclaim those hours and reinvest them in your business — or yourself? Contact us at (305) 310-2994 to turn your financial chores into strategic opportunities. We can handle these time-consuming tasks for you and provide insights to help your small business thrive!

Distributions from IRAs before age 59½ are generally subject to income tax and a 10% penalty. But there are exceptions. ...
07/18/2025

Distributions from IRAs before age 59½ are generally subject to income tax and a 10% penalty. But there are exceptions. For example, first-time homebuyers can withdraw $10,000 penalty-free, and adoptive parents can withdraw up to $5,000 to help pay adoption costs. Victims of federally declared disasters can withdraw up to $22,000, and victims of domestic violence can withdraw the lesser of $10,000 or 50% of an account balance. Also, you’re allowed one $1,000 “emergency” distribution annually to pay unexpected costs. For a complete list of exceptions that would enable you to take penalty-free early withdrawals from IRAs and 401(k)s: https://bit.ly/4c4JAyT. Questions? Contact us at (305) 310-2994.

Did you know the IRS can hold you PERSONALLY liable for the unpaid payroll taxes of your business? The Trust Fund Recove...
07/16/2025

Did you know the IRS can hold you PERSONALLY liable for the unpaid payroll taxes of your business? The Trust Fund Recovery Penalty (TFRP) targets business owners and responsible parties who willfully fail to remit payroll taxes withheld from employees. Even if the business is struggling, the IRS doesn’t take missed payments lightly. The financial consequences can be severe. If you've received a TFRP notice or are concerned about payroll tax compliance, don’t wait. We help you understand your rights and build a strong defense. Act now before penalties escalate. Contact us at (305) 310-2994.

Many small businesses overpay sales tax without realizing it. Exemptions vary widely by state, and relying on vendors to...
07/15/2025

Many small businesses overpay sales tax without realizing it. Exemptions vary widely by state, and relying on vendors to get it right can lead to costly mistakes. A reverse audit can uncover overpayments and help you recover lost dollars. Don’t wait! Refunds are usually time limited. Contact us at (305) 310-2994. We can help make sure you’re not leaving money on the table.

We offer business tax services, including strategy, compliance and return preparation. From quarterly filings to year-en...
07/14/2025

We offer business tax services, including strategy, compliance and return preparation. From quarterly filings to year-end planning, we help minimize liabilities and maximize tax breaks — so you can stay focused on growing your business. Whether you’re a sole proprietor, C corporation, S corporation, partnership or LLC, let us simplify taxes for you. Contact us at (305) 310-2994.

Two commonly misunderstood tax terms are deductions and credits. What’s the difference? Deductions reduce the amount of ...
07/11/2025

Two commonly misunderstood tax terms are deductions and credits. What’s the difference? Deductions reduce the amount of a taxpayer’s income before tax is calculated. For example, on your individual return, you can take the standard deduction or itemize deductions depending on which strategy will most reduce your taxable income. Credits, on the other hand, reduce the actual tax due, dollar-for-dollar, generally making them more valuable than deductions. Certain credits, such as the Child Tax Credit, are partially or fully refundable. This means that if a taxpayer’s bill is less than the amount of the credit, he or she may receive the difference as a refund. Contact us at (305) 310-2994 with your tax questions.

Proper payroll recordkeeping is critical for every business to ensure tax compliance and guard against litigation. Most ...
07/09/2025

Proper payroll recordkeeping is critical for every business to ensure tax compliance and guard against litigation. Most companies must keep information regarding federal income, Social Security and Medicare taxes for at least four years after the due date of an employee’s personal income tax return for the year in which the payment was made. This is known as the “records-in-general” rule, and various data and documents fall under it. Contact us at (305) 310-2994 to schedule a review of your payroll recordkeeping processes today!

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under tax law, you can generall...
07/08/2025

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under tax law, you can generally deduct 50% of qualifying business meal costs. Whether you're dining with clients, partners or employees, these deductions can reduce your taxable income. Keep detailed records of the expenses, including receipts. Document the business purpose of each meal and the business relationship of the people you dine with. Contact us at (305) 310-2994 with any questions about this deduction.

Address

Miramar, FL

Opening Hours

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

Telephone

+13053102994

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