Accounting to Scale
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K-1 Form, Explained.
"K-1 Form... What is that?!?"
Hey Taxpayers, Tiffany Gonzalez CPA is back with another great installment of "What is that?!?" Where we bring you financial terms and topics you may have heard, but we make them super easy to understand.
Today we are talking about the K-1 form. If you’ve heard about taxes for partnerships, or S-Corps this is a must-watch!
The K-1 form is a document that partnerships, S corporations, and some trusts use to report income, deductions, and credits to their partners or shareholders. Think of it as a report card for your share of the business's financial activity.
Whether you're a business owner or just curious, Tiffany will make it easy to understand.
Tune in and get your financial I.Q. up!
Accounting to Scale is dedicated to the betterment of the community through financial education. Please leave any topics you wish to learn about or feel should be talked about in the comments below.
Contact us:
☎ 305.503.2814
🖥www.accountingtoscale.com
Info@accountingtoscale.com
#MiamiAccounting #Smallbusinessmiami #MiamiCPA #MiamiBookkeeper #MiamiBookkeeping #Lifeinsurance #financialplanning #retirementplanning #401k #Roth401k #roth #SEP #SEPIRA #taxtips #mortgage #mortgageinterestrates #corporatetransparencyact #cta #costsegregation #Quitclaimdeed #lossaversiontheory #k1
zhlédnutí: 31

Video

The Loss Aversion Theory - Explained.
zhlédnutí 34Před dnem
"The Loss Aversion Theory... What is that?!?" Hey Taxpayers, Tiffany Gonzalez CPA is back with another great installment of "What is that?!?" Where we bring you financial terms and topics you may have heard, but we make them super easy to understand. Today we are talking about The Loss Aversion Theory, which is a key concept in behavioral economics. Loss aversion theory explains why losses ofte...
The Magnificent 7, Explained!
zhlédnutí 54Před 14 dny
"The Magnificent 7... What is that?!?" Do you love Superheroes? How About Super Businesses?? Hey Taxpayers, Tiffany Gonzalez CPA is back with another great installment of "What is that?!?" Where we bring you financial terms and topics you may have heard, but we make them super easy to understand. Today we are talking about the Magnificent 7, which are the top 7 businesses pushing the Tech World...
Employee Stock Option Plan, ESOP - Explained.
zhlédnutí 529Před 21 dnem
"Employee Stock Option Plan, ESOP... What is that?!?" Hey Taxpayers, Tiffany Gonzalez CPA is back with another great installment of "What is that?!?" Where we bring you financial terms and topics you may have heard, but we make them super easy to understand. Today we are talking about the Employee Stock Option Plan or ESOP, which is when an employer gives the employee the opportunity to buy sto...
3 Types of IRS Audits to be Aware of!
zhlédnutí 81Před 28 dny
"3 Types of IRS Audits to be Aware of!" Hey Taxpayers, Tiffany Gonzalez, CPA is bringing you a great video on a scary subject, IRS Audits! Navigating the world of IRS audits can feel daunting, but understanding the three types can make all the difference! There are Correspondence Audits, where the IRS sends a letter asking for more info. Office Audits require you to visit an IRS office to discu...
False Advertising cost Millions! The truth about TurboTax!
zhlédnutí 53Před měsícem
"False Advertising cost Millions! The truth about TurboTax!" Hey Taxpayers, If you have ever heard the saying, "Nothing in life is free"?Well, millions of Taxpayers thought they would get free tax help and found out they were lied to. Many Americans soon found out that after they started filling out their tax forms with TurboTax, they were asked to pay a fee to file their taxes, even though the...
Manual Payroll - How I recovered $20,000 for a Client!
zhlédnutí 80Před měsícem
"How I recovered $20,000 for a Client!" 🔔 Business owners, stop the payroll hassle! Tiffany Gonzalez, CPA, is her with the smarter way: switch to automated payroll tax software. Say goodbye to manual calculations, IRS headaches, and costly errors. It's 2024; let tech simplify taxes. Embrace savings and strategy with expert CPA advice instead of needless paperwork. In this video, I will tell you...
Real Estate Syndication, Explained!
zhlédnutí 178Před měsícem
"Real Estate Syndication... What is that?!?" Hey Taxpayers, Tiffany Gonzalez CPA is back with another great installment of "What is that?!?" Where we bring you financial terms and topics you may have heard, but we make them super easy to understand. Today we are talking about Real Estate Syndication, which has to do with collectively investing into a large Real Estate Development project. By po...
Roll Over your 401k ASAP.
zhlédnutí 716Před měsícem
Roll Over your 401k ASAP.
3 Tax Saving Strategies you can't afford to miss!
zhlédnutí 221Před 2 měsíci
3 Tax Saving Strategies you can't afford to miss!
Quitclaim Deed, Explained.
zhlédnutí 121Před 2 měsíci
Quitclaim Deed, Explained.
Sunk Cost vs Opportunity Cost.
zhlédnutí 133Před 2 měsíci
Sunk Cost vs Opportunity Cost.
5 Tips to Spend Less, and Save More!
zhlédnutí 129Před 2 měsíci
5 Tips to Spend Less, and Save More!
Loyalty Programs are Boosting Sales!
zhlédnutí 1,8KPřed 3 měsíci
Loyalty Programs are Boosting Sales!
"Credit Builder Cards - Build your Credit History!"
zhlédnutí 6KPřed 3 měsíci
"Credit Builder Cards - Build your Credit History!"
Money Stress Tips from a CPA.
zhlédnutí 290Před 3 měsíci
Money Stress Tips from a CPA.
S&P 500, Explained.
zhlédnutí 200Před 3 měsíci
S&P 500, Explained.
Business Meals Tax Deduction 2024.
zhlédnutí 405Před 4 měsíci
Business Meals Tax Deduction 2024.
Student Loan Repayment Changes in 2024!
zhlédnutí 285Před 4 měsíci
Student Loan Repayment Changes in 2024!
Cost Segregation Study - Explained
zhlédnutí 133Před 4 měsíci
Cost Segregation Study - Explained
How to avoid paying Taxes to the IRS, Legally! - Impact Seminar, Coral Gables Chamber of Commerce.
zhlédnutí 152Před 4 měsíci
How to avoid paying Taxes to the IRS, Legally! - Impact Seminar, Coral Gables Chamber of Commerce.
Corporate Transparency Act (CTA) - Explained
zhlédnutí 141Před 4 měsíci
Corporate Transparency Act (CTA) - Explained
Tiffany Gonzalez CPA, Tax Talk with Compass.
zhlédnutí 2,2KPřed 4 měsíci
Tiffany Gonzalez CPA, Tax Talk with Compass.
4 Game Changing Strategies to Thrive in Business.
zhlédnutí 65Před 4 měsíci
4 Game Changing Strategies to Thrive in Business.
Employee Retention Credit- Fraud on the Rise!
zhlédnutí 97Před 5 měsíci
Employee Retention Credit- Fraud on the Rise!
IRS Improvements for the 2024 Filing Season!
zhlédnutí 379Před 5 měsíci
IRS Improvements for the 2024 Filing Season!
Bitcoin Halving in 2024!
zhlédnutí 391Před 5 měsíci
Bitcoin Halving in 2024!
How analyzing my expenses helped me catch a Thief!
zhlédnutí 119Před 5 měsíci
How analyzing my expenses helped me catch a Thief!
Trailing 12 Months... Explained
zhlédnutí 420Před 6 měsíci
Trailing 12 Months... Explained
How long should I keep my records?!?
zhlédnutí 157Před 6 měsíci
How long should I keep my records?!?

Komentáře

  • @TV-sw6yy
    @TV-sw6yy Před 2 dny

    Thank you always for your wonderful explanation on tax matters! Forgot to say thank you before that I passed REG in 5 weeks thanks to your videos 😀

  • @thafeline6671
    @thafeline6671 Před 2 dny

    Thank you for the explanation

  • @RVI123
    @RVI123 Před 4 dny

    I am 70 years old . Can I open an able ac ? ( I am not diabled )

  • @thomasyang2644
    @thomasyang2644 Před 5 dny

    Now I know why Trump like to host the national event in Matiagua, F***

  • @user-yi9fh3qq7j
    @user-yi9fh3qq7j Před 8 dny

    Before you open Able account, do I have to noticed the SSI or just go to any bank and open? Thnaks

  • @TrueMarketLeader
    @TrueMarketLeader Před 10 dny

    wow! I learned something new today! Good to know for my investment clients who are saving for their kids education 😊🎉❤

  • @zunairmushtaq5888
    @zunairmushtaq5888 Před 12 dny

    considering 1000 per day for rent, if the total amount comes back as 14,000, does that mean that I get $14,000 from my income tax exempted or do I get $14,000 in tax savings?

    • @SAL83468
      @SAL83468 Před 5 dny

      Both. You get $14k tax free and you get a deduction.

  • @lilymac8246
    @lilymac8246 Před 15 dny

    ⭐️⭐️⭐️⭐️⭐️⭐️

  • @lilymac8246
    @lilymac8246 Před 15 dny

    ⭐️⭐️⭐️⭐️⭐️

  • @lilymac8246
    @lilymac8246 Před 15 dny

    ❤❤❤

  • @lilymac8246
    @lilymac8246 Před 15 dny

    ❤❤❤❤

  • @lilymac8246
    @lilymac8246 Před 15 dny

    ⭐️⭐️⭐️⭐️⭐️

  • @lilymac8246
    @lilymac8246 Před 15 dny

    ⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️

  • @lilymac8246
    @lilymac8246 Před 15 dny

    ⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️

  • @HumbleTrader001
    @HumbleTrader001 Před 18 dny

    As long as someone itemizes rather than taking the standard deduction.

    • @AccountingtoScale
      @AccountingtoScale Před 18 dny

      Yes and I have an awesome video on itemized vs standard deduction. Thanks for watching!

  • @dannyrand1733
    @dannyrand1733 Před 21 dnem

    Straight to the point. No need to watch a 10 to 15 minute when this can be explained in 2min.

    • @AccountingtoScale
      @AccountingtoScale Před 19 dny

      100000% agree!! Thanks for watching. All my videos follow the same idea. Don't forget to sub :)

  • @olmanj
    @olmanj Před 22 dny

    I have stock options I want to sell but I need to exercise them first and I don't want to buy them without a buyer lol

  • @dannygonzalez4028
    @dannygonzalez4028 Před 23 dny

    Great video!

  • @Zeo60409
    @Zeo60409 Před 23 dny

    thanks im dealing with tax fraud and I needed some advice how to proceed

    • @AccountingtoScale
      @AccountingtoScale Před 23 dny

      Sorry to hear that!! 😥

    • @Zeo60409
      @Zeo60409 Před 18 dny

      @@AccountingtoScalekinda a small update social security office is a tremendous help sadly they found out this guys been doing it for years it seems...but got the ball rolling just waiting on that letter so I can update the irs on whats going on with this mess

  • @TrueMarketLeader
    @TrueMarketLeader Před 23 dny

    ❤❤ mic drop!!!

  • @alonzohopkins5771
    @alonzohopkins5771 Před 24 dny

    *PromoSM*

  • @ldb4dh13
    @ldb4dh13 Před 25 dny

    Snae

  • @lisalasoya2898
    @lisalasoya2898 Před 25 dny

    catch-up contributions for individuals age 50 or over-general section 414 relating to definition and special rules is amended by adding at the end the following new subsection. An applicable employer plan shall not be treated as failing to meet any requirement of this title solely because the plan permits an eligible participant to make additional elective deferrals in any plan year.

  • @baxterismyyoutubename5077

    Damn!!! Thanks.. You answered all my questions... What if this is like that, what if this is that way, are the names mentioned the same? All these questions i have u have answered them all... Thank u so much...and continue to do what you doing.. ❤

  • @jesussalazar9181
    @jesussalazar9181 Před měsícem

    I let my cousin do my income tax this year and it’s been over four months. What should I do?

    • @AccountingtoScale
      @AccountingtoScale Před 29 dny

      check the wheres my refund tool on the IRS website - www.irs.gov/wheres-my-refund

  • @melg5786
    @melg5786 Před měsícem

    this didn't help me at all. My husband and I fill this out seperately and he claims a dependent while I don't???

  • @TrueMarketLeader
    @TrueMarketLeader Před měsícem

    ❤❤❤

  • @charinapadilla8710
    @charinapadilla8710 Před měsícem

    On point! Thanks for sharing!

  • @Christina-un9sy
    @Christina-un9sy Před měsícem

    Great information! It's never good to leave behind a 401(k).

  • @user-ud6jc8cn4e
    @user-ud6jc8cn4e Před měsícem

    😅

  • @MyDyerMaker
    @MyDyerMaker Před měsícem

    The minimum investment for VRGWX and VFTNX is $5 million, each.

    • @AccountingtoScale
      @AccountingtoScale Před měsícem

      Oops! I gave the wrong code in the video. That’s the institutional investor code. The etf equivalent would be VONE.

  • @ShedaJevant
    @ShedaJevant Před měsícem

    Hey! 🍒 Today I was scrolling on CZcams and saw one of your videos. Then I went to your channel and watched about 10 videos. In which I found everything is correct, only the video editing is a little less. By the way, I was wondering if you are looking for a video editor that can do subtitles, B-roll animation, effects, transitions and color grading in high quality and trending style? In low budget. Good news - I will edit your video in high quality and trending style as per your requirement and that too in low budget. By the way if you want to see my portfolio video let me know: Waiting for your response: Cheers: Sheda

  • @JuanitoJrOrdanza-ki5vl
    @JuanitoJrOrdanza-ki5vl Před měsícem

    Thank you for the advice mam..

  • @fisherohvf-men623
    @fisherohvf-men623 Před měsícem

    Can I use this on a building contractor who took 20k for materials on a job, then skipped out and didn't finish the work or reimburse me?

    • @AccountingtoScale
      @AccountingtoScale Před měsícem

      Don't think so.. might look into filing a police report? sorry that happened to you.

  • @TarbashNakkah
    @TarbashNakkah Před měsícem

    What is that? (COPYRIGHT)

  • @TarbashNakkah
    @TarbashNakkah Před měsícem

    Hey "What is that" best part

  • @dez24ram
    @dez24ram Před měsícem

    The awful thing is that 5% interest isn’t set UNTIL you sign up for the payment plan…while you wait your interest is through the roof…don’t wait to do that payment plan. You’ll regret it 😭

    • @AccountingtoScale
      @AccountingtoScale Před měsícem

      I appreciate you leaving this experience share in the comments section. It will likely help someone in the future. Thanks for watching my video 💞

  • @gabu8065
    @gabu8065 Před měsícem

    Nice

  • @SleepyKittenz
    @SleepyKittenz Před měsícem

    Thank you!

  • @aliyahthegardenist
    @aliyahthegardenist Před měsícem

    Most helpful!!!❤🎉❤🎉

  • @ComputerUser-ty3ml
    @ComputerUser-ty3ml Před měsícem

    Can a dissolved c-corporation with no current assets/income that owes $100K+ in back income taxes still qualify/set up an installment agreement with the IRS?

  • @VishalRaoOnYouTube
    @VishalRaoOnYouTube Před měsícem

    Tiffany, I use TurboTax but am always on the lookout for something better. What software do you like for self-preparers?

  • @dannyboydston2064
    @dannyboydston2064 Před 2 měsíci

    Hello Tiffany, one thing I remain confused about and see it answered different ways is this. My wife was diagnosed with Leukemia and was (still is) out of work and wasn't able to continue paying some of her debt. She had to retire and was able to go on Social Security disability. She paid on the account monthly but had to stop once she had to retire. I have both read and been told that this particular debt for a credit card of $5000 dollars would not cause a 1099-C to be issued because it wasn't a settlement, It was just her account she stopped paying on and the company charged it off, it wasn't forgiven. I have also read it is 1099-C worthy and will be considered income. once she does receive a 1099. Could you help clarify this please. Thank you!

  • @marcelokaidi1438
    @marcelokaidi1438 Před 2 měsíci

    Thank you Tiffany, this easy to understand explanation is very helpful

  • @susiemartin6497
    @susiemartin6497 Před 2 měsíci

    wow; great explanation- the best I've found on the internet! We are selling a rental house to a family member. This is quite helpful.

  • @rajdeepbanerjee8339
    @rajdeepbanerjee8339 Před 2 měsíci

    amazingly premium knowledge. Tiffany is truly great. In fact, this sunk cost fallacy is something I encounter on a daily basis. My past investments in worthless things make me iffy about future ones but since u have brought this out to me that it's a fallacy , I'll no longer feel crushed under the weight of this deceiving fallacy. So thanks a ton

  • @NewsforThought-English
    @NewsforThought-English Před 2 měsíci

    brain blast how simple this has been but never explained well lol thank you

  • @majesty10xu15
    @majesty10xu15 Před 2 měsíci

    @Accounting to Scale Thanks so much for your video. I am a food delivery driver that has racked up several hundred miles for deliveries. My question is can I do a mileage deduction, which is about .65 cents per mile for 2023, AND take a standard deduction as well, which is about $13000 for 2023? I always thought that taking a mileage deduction means I would have to file as an itemized form as opposed to the standard deduction.

    • @AccountingtoScale
      @AccountingtoScale Před 2 měsíci

      Standard vs itemized is completely different from self employed deductions like mileage.👍

  • @emilybrowno
    @emilybrowno Před 2 měsíci

    Video Editing is too low 👎👎👎👎 Edit the video in a good style. Add nice b-roll animation when you are speaking or explaining something. This will increase visualization. Put proper subtitles, effects, transitions, and colors in the video. Insert the B-Roll (footage and animation) very well because it is absolutely low in your video. Do all this and then see how the video doesn't turn out good. 🍂

    • @johnsmithb
      @johnsmithb Před 2 měsíci

      When we see the title 😲😲😲😲😲😲😲😲 _________________________ After watching for 2 minutes 😴🙄🙄😇😇😇😇🧐 🍽️

    • @jessicamillerr
      @jessicamillerr Před 2 měsíci

      If someone says that video editing should be enhanced then I also vote "yes" 🧋

    • @laurendavisa
      @laurendavisa Před 2 měsíci

      In my opinion, more attention should be paid to subtitles, transitions, effects and B-Roll. I mean do subtitles, transitions, effects and B-Roll properly. 🧂

    • @madisonmartinezz
      @madisonmartinezz Před 2 měsíci

      You guys are saying this today, right? I have been saying this for several weeks now that you should improve your video editing. 🍺

    • @mariagarciab
      @mariagarciab Před 2 měsíci

      Video editing score = 200/100 😊🤣🤣🤣🤣🤩🤣🙃🙃🥳🥳 🍽️

  • @angelmelendez2468
    @angelmelendez2468 Před 2 měsíci

    LOL " What is that"