Q: What is the new hire retention credit and what does it apply to?
A: This is a general business credit to encourage retention of the new hires.  The employer may claim the credit for each employee who is a qualified employee for purposes of the payroll tax exemption and who remains an employee for 52 [...]

Tags: Business Credit, Income tax Return

Two New Tax Benefits Aid Employers Who Hire and Retain Unemployed Workers
WASHINGTON — Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today.
Employers who hire unemployed [...]

IRS Announces 2010 Standard Mileage Rates
IR-2009-111, Dec. 3, 2009
WASHINGTON — The Internal Revenue Service today issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, [...]

Tags: Accounting Services in Orlando, Add new tag, bookkeeping, IRS standards rates, Mileages rates for 2010, taxes in orlando

Last year, 2 out of 3 tax returns were filed electronically. Was yours? If not, here are three important reasons to e-file your return.

It’s fast Your tax return will get processed more quickly if you use e-file. If there is an error on your return, it will typically be identified and can be corrected right [...]

WASHINGTON — A new law that went into effect Nov. 6, 2009 extends the first-time homebuyer credit five months and expands the eligibility requirements for purchasers.

The Worker, Homeownership, and Business Assistance Act of 2009 extends the deadline for qualifying home purchases from Nov. 30, 2009, to April 30, 2010. Additionally, if a buyer enters into [...]

At Toro Accounting & Consulting Services LLC of Orlando, Florida we specialize in providing Small Business Accounting Solutions at affordable prices.
Our CERTIFIED QUICKBOOKS ® PROADVISOR will provide your business with all the tools to answer the number one question for any business owner: WHERE IS THE CASH?
Since most small businesses in Central Florida use QuickBooks [...]

It is not too late to file a return to claim your economic stimulus payment.
You must file a return by October 15 to receive a payment prior to year’s end. It can take up to eight weeks for the IRS to process the return and issue the check.
People who have no tax filing requirement but [...]

Tags: economic stimulus payments, economic stimulus refunds

During summer months, many people sell their home and move to a new location.  Many of those individuals will make a profit on the sale and still will not have to pay a single dime of additional income tax to the IRS. 

Generally, you have made a profit if the selling price of your home is [...]

Tags: sale of home, taxes in orlando

Cesar A. Toro CPA combines over 14 years of experience in accounting, auditing and taxation
A graduate of Florida International University in Miami, Cesar Toro has earned the CPA, CIA, and CBA certifications and is fluent in Portuguese, Spanish, and English.
Cesar Toro CPA is currently the owner of Toro Accounting & Consulting Services, LLC, a firm [...]

Tags: Accounting Services in Orlando, Add new tag, bookkeeping, Cesar Toro CPA, portuguese, Spanish, taxes

Saving your Small Business thousands of dollars each year in taxes:
Toro Accounting & Consulting Services LLC of Orlando, Florida is your best source for accounting advice. Recently one of our new clients using both the mileage the rate of 58.5 cents for 2008 and by collecting the small receipts for the petty cash will save over [...]

Tags: hispanic CPA, portuguese speaking tax advisor, small business accounting, spanish speaking tax advisor, taxes, vehicle depreciation