Formerly Givitago Bookkeeping Solutions

Building Your Finances In Line With Your Goals 

 
Good business practices can make the difference between a successful and unsuccessful business. A vague yet precise statement. Financially speaking, good business practice is keeping your thumb on the heartbeat of your business…the numbers. But many business owners have difficulty with this part. They do what they do best during the day and leave managing the financial part to late nights or weekends, paying little attention to the details of what the numbers really mean. Oftentimes, they struggle to decipher the meaning from the financial statements, and more often still, may not even look at their financial statements at all. We’re here for you. Find out ways that we can help you achieve the success you’ve always dreamed of.
 
 
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What brought you here?

Maybe you’ve been managing your own bookkeeping and accounting tasks but find that you just don’t have the time to run your business and do the books. Or perhaps you’ve been doing the books yourself or having a friend or family member do them to save some money, but now you know that something’s wrong and don’t know how to fix it. Or possibly you’ve never managed your books at all. No matter what brought you here, know that we can, and will, help to ease your worries and concerns and put you back in the driver’s seat of what you do best – running your business. Only now you’ll do it with confidence.

What We Do Best

Services

Let’s Work Together
321-591-8990

Bookkeeping Services

Are you frazzled with maintaining books while growing a new business or keeping one running? Hiring the right bookkeeper can be a cost-effective way for you to leverage specialized knowledge without the high costs of hiring in-house staff.

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Small Business Accounting

How does getting a team of expert tax and accounting professionals for the price of one experienced financial executive sound? That’s what you get when you add our team to yours. Sound almost too good to be true? It’s not only true, but attainable.

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Payroll

How does a worry-free payroll service that eliminates the burden for you to maintain your own payroll system sound? No more data entry, no more keeping track of updates and new laws, no more worries, plain and simple. Sound good?

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Cash Flow Management

Business is good, right? Money is coming in, right? Then why isn’t there anything left over? While there will be times when every company will have a negative cash flow, a steady stream of it can, and will, cause a business to fail. We can show you where the money is going so you can make better decisions for your business.

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New Business Formation

Do you know the necessary steps in setting up a new business? Failing to set up a business correctly in the initial stages of formation is often a reason that most businesses fail. If you want to give yourself the best possible chance of success and get your business off to an excellent start, call us; we want to help with your success.

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Tax Services

Are you IRS compliant? Are you meeting your tax deadlines? As your trusted advisors, we make sure that you meet your tax obligations and keep your hard earned money instead of paying fees and penalties that reduce your profitability. See how our tax planning strategies can help you build a foundation for future success.

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What We Do Best

Client Sectors

Our clients are as diverse as the businesses they run and we take great pride and enjoyment out of servicing each and every one, from florists to industrial construction, and everything in between.

Construction

RetailStore

Retail

Restaurant

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There’s no better time than now to take advantage of our expertise.

Contact Us Today

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321-591-8990

Weekly Tax Tips

July 11, 2025I know it’s only July, but it’s never too early to think about tax returns. And when we think about tax returns, we (or we should) think about identity theft, and even more importantly, how to avoid it. Here’s a good IRS tip: IRS Online Account and identity protection PINs protect against fraudsters IRS identity protection PINs, or IP PINs, are a vital tool to protect taxpayers from fraudsters trying to steal personal and financial information. Taxpayers are encouraged to establish an IRS Online Account and request an IP PIN. Important things to know about an IP PIN Anyone with an SSN or an ITIN can get an IP PIN including individuals living abroad. It’s a six-digit number known only to the taxpayer and the IRS. It helps us verify the taxpayer’s identity when filing a tax return. The account is protected even if there is no filing requirement. Only taxpayers who can verify their identity can get an IP PIN. Tax professionals can’t get an IP PIN on behalf of their client but may obtain it directly from the taxpayer for filing purposes. Each IP PIN is valid for one year. When it expires, a new one is generated for security reasons. Taxpayers with an IP PIN must use it when filing any federal tax returns during the year, including prior year tax returns or amended tax returns. The program is voluntary, though it’s strongly encouraged. The IRS will never call, email or text the taxpayer to request their IP PIN. How to request an IP PIN The fastest way to get an IP PIN is to request one through IRS Online Account, under the “Profile” page. If taxpayers don’t already have an account on IRS.gov, they must register to validate their identity. Taxpayers should review the identity verification requirements before they use the Get an IP PIN tool. Taxpayers who can’t validate their identity online can still get an IP PIN Taxpayers who can’t validate their identity online and whose income is below a certain threshold can file Form 15227 (EN-SP), Application for an Identity Protection Personal Identification Number. The 2025 threshold is $84,00 for individuals or $168,000 for married couples filing jointly. Taxpayers who can’t validate their identity online or by phone, those who are ineligible to file a Form 15227 or those who are having technical difficulties can make an appointment at a Taxpayer Assistance Center. As always, if you have questions or want to learn more, call us at 321-591-8990. We’d love to hear from you. [...] Read more...
May 23, 2025This is a deduction that quite a few people are “leaving on the table” by not having the business pay the premiums. We recommend that you charge health insurance through the business and add it to your W-2. On your personal tax return the health insurance is separate so it offsets the W-2 and becomes a tax-free benefit. 1. Tax Advantages: Self-Employed Health Insurance Deduction: As a self-employed individual, you can deduct 100% of your health insurance premiums (including medical, dental, and qualifying long-term care) from your personal income taxes, as an adjustment to your gross income. This is an “above-the-line” deduction, meaning you can take it regardless of whether you itemize deductions. Business Expense Deduction: If your business is structured as a corporation (S-corp), the business can pay your health insurance premiums and deduct them as a business expense, reducing your business’s taxable income. Additionally, for S-corp owners who own more than 2% of the company’s stock, paying health insurance premiums through the business can reduce self-employment taxes. Health Savings Accounts (HSAs): If you have a high-deductible health plan (HDHP), you can contribute to a tax-advantaged HSA. Contributions are tax-deductible, grow tax-free, and can be used for qualified medical expenses. 2. Business Structure: Sole Proprietorship/Single-Member LLC: You can claim the self-employed health insurance deduction on your personal income tax return, regardless of whether your business pays the premiums. Partnership/Multi-Member LLC: Similar to sole proprietorships, partners can deduct their health insurance premiums on their personal income tax returns. S-Corporation: This structure offers the most tax advantages for health insurance. The S-Corp can pay premiums for owners and deduct them as a business expense, and owners can further deduct the premiums on their personal income tax return. 3. Employee Health Insurance: Employer Mandate: Businesses with 50 or more full-time equivalent employees are generally required to offer health insurance that meets certain affordability and minimum value standards. Tax Credits: Small businesses with fewer than 25 full-time equivalent employees may qualify for a tax credit to help offset the cost of providing health insurance. Recruitment and Retention: Offering health insurance can be a valuable tool for attracting and retaining employees. Employee Morale and Productivity: Healthier employees tend to be more productive, leading to a positive impact on your business. 4. Other Considerations: Cost Comparison: Carefully evaluate the costs of different health insurance plans available through the marketplace, private insurers, or professional associations. Coverage Needs: Choose a plan that meets your healthcare needs and those of your family. Budget: Find a balance between your health needs and your budget. Consult with a qualified tax advisor or financial professional to determine the best course of action for your specific circumstances. [...] Read more...
May 23, 2025Many people found themselves owing tax for underpaying their Federal Withholding and incurred a late penalty. They were perplexed as to why this happened when they did not owe in previous years. This was due to a Trump administration-initiated Tax Relief that changed how taxes were assessed which resulted in employees getting a little more money in their paychecks because the Federal Withholding was less. However, though the Federal Withholding was less, the liability did not change. In essence, the employee received the funds “up front” throughout the year but had to pay back at the end of the year. This pertains to Federal Withholding only; Social Security and Medicare did not change. Many employees, due to lack of knowledge of this Tax Relief effort, did not set aside those funds, nor did they increase their Federal Withholding to make up for it, thus resulting in the balances due. Here are some work-arounds: If the employee was in effect prior to 2020, they can elect to fill out a 2019 W4 form which provided the Federal Withholding at the higher (normal) rate and provide to their employer. The employer will need to provide that 2019 W4 to their payroll provider to update the employee’s filing status. or The employee can elect to have the employer withhold extra Federal Withholding in either a dollar amount or a percentage. Again, the employer will need to provide this information to their payroll provider. IF the employee was hired in 2020 or later, they are required to use the new W4 form with less withholding. Again, an option for the employee is the employee can elect to have the employer withhold extra Federal Withholding in either a dollar amount or a percentage. Again, the employer will need to provide this information to their payroll provider. Please let all employees know about this and have them review their paystubs to assure that they are aware of the Federal withholding currently being taken out. If it is around 4.2% then it is the lower rate, and they may want to consider the options above. Again, this pertains to Federal Withholding only; Social Security and Medicare did not change. [...] Read more...