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Fast Facts about Florida’s Certified Sales Tax Audit Program

Established in cooperation with the Florida Institute of CPAs and the Florida Department of Revenue (DOR), the Certified Audit Program allows taxpayers to hire specifically trained and DOR-approved CPA firms to conduct sales, use and local-option tax audits in accordance with DOR standards and...
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House rich but cash poor? Consider a reverse mortgage strategy

Are you an older taxpayer who owns a house that has appreciated greatly? At the same time, you may need income. Thankfully, there could be a...
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Should you convert your business from a C to an S corporation?

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability...
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The Centralized Partnership Audit Regime: Increased IRS Focus on Partnerships is Here

In late 2015, newly enacted legislation significantly revamped audit procedures for partnerships. The centralized partnership audit regime (CPAR) dramatically overhauled both the way that partnership returns...
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Circuit Court Overturns Farhy Decision, Holds IRS Has Authority to Assess Section 6038 Penalties

The United States Court of Appeals for the District of Columbia Circuit on May 3 reversed the U.S. Tax Court’s decision in Farhy v. Commissioner of Internal Revenue, holding that the IRS has the authority to assess penalties for failure to comply with the...
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Understand Changes Coming to the Estate and Gift Tax

In January 2026, the current lifetime estate and gift tax exemption will be cut in half. Families have less than two years to take advantage of...
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Hancock Askew & Co. is honored as a 2024 Atlanta’s Best and Brightest Companies to Work For®

Hancock Askew & Co., LLP (Hancock Askew) is once again a winner of the Best & Brightest Companies to Work for in Atlanta award. The Best...
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Hancock Askew & Co. Proudly Announces the Promotion of Nine Partners Across Georgia & Florida Markets

Georgia and Florida (May 31, 2023) – Hancock Askew & Co., LLP, a full-service audit, tax, accounting and advisory firm is proud to announce the promotion...
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When do valuable gifts to charity require an appraisal?

If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The...
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Growing your business with a new partner: Here are some tax considerations

There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners are planning...
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