Matthew S. Abrams
cpa in hollywood, FL
Certified Public Accountant
Tax Returns Professionally & Expertly Prepared!
Lower Taxes Using Personalized Service!
IRS Tax Problem Promptly & Resolutely Resolved!
About the Firm
Since 1996, the firm of Matthew S. Abrams, CPA (MSA) has been providing the highest level of professional tax preparation and accounting service to personal and business clients alike.
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Matthew S. Abrams Bio
​Matthew S. Abrams graduated with a BS in Accounting from George Washington University in 1982, beginning his career as a CPA in the leading national CPA firm Ernst & Whinney (currently known as Ernst & Young).
Provided Services
Personal Tax Preparation
​Corporate/Business Tax Preparation
Trust & Estate Planning
Financial & Retirement Planning
IRS Audit Representation & Resolution
Corporate Bookkeeping Services
Entity Formation
MSA CLIENT SECTION:
2021 Tax Worksheets for Download
2021 TAX WORKSHEETS
Ready for download!
The 2021 Tax Worksheets are available in Excel for your convenience. Please download, complete and save whichever worksheets pertain to you, then upload same by clicking on the "box" icon to the right. As always, contact our office if you have any questions or require assistance.
Click on the word BOX
** You are required to maintain a detailed log of every trip made for business mileage deducted. "MileIQ" or Quick Books helps you create this log and track your mileage!
Charitable Donations
= Excel
Medical & Other Deduct
Personal Information Sheet
It's Free! Click Here
Business Income and Expenses
Rental Property
The Tax Learning Center
Repair Expense Deduction Rules
By Matthew S. Abrams, CPA
01-31-24
Repair deductions are often claimed on rental properties or office in home deductions. However, repairs that replace a component of a property with something new is not deductible as a repair expense but must be added to the cost of the property and depreciated over time. A common example is replacing a roof on a building with a new roof. On the other hand, repairing a leak in a roof is deductible as a repair. READ MORE...
Donating Stock to Charity Creates Double Tax Savings
By Matthew S. Abrams, CPA
01-31-24
Donating an investment, such as stock or a mutual fund, that has significantly gone up in value creates a double tax saving. First, you get a tax deduction for the value of the investment donated; second, you also avoid paying taxes on the investment when you eventually sell it. People often sell a stock, and then donate the proceeds to a charity, which creates a tax bill for selling the stock. In these cases, it’s a no-brainer to donate the investment directly to charity, since you avoid paying tax on the capital gain. If you donate the investment directly to a charity and have the charity sell it, the charity does not pay taxes on the gain since the charity is tax exempt. It's a win-win! READ MORE...
Converting Non-Deductible IRA to ROTH
By Matthew S. Abrams, CPA
01-31-24
IRA distributions can be tax free if you are older than 59 ½ and have low income this year, but you need to take action fast before year end. Your itemized deductions and exemptions might exceed your income, which creates the opportunity to take a taxable IRA distribution tax free. But if you are younger than 59 ½, there's a tip for you too! For your circumstance, converting a traditional IRA to a ROTH IRA may also be tax free. READ MORE.....
Year End Donations of Clothing and Household Items Can Save Taxes Significantly
By Matthew S. Abrams, CPA
01-31-24
Maximizing tax deductions before the end of the year can save you taxes. An often overlooked deduction is donation of clothing and household items. It’s important to know how to do this to both maximize your tax savings, and follow the tax rules. This deduction for many taxpayers often can range between $500-$1,000, which could save a taxpayer between $150-$300 in taxes, assuming a tax rate of 33%. This is an easy tax break to take advantage of if you know the tax rules and how organize your documentation. If you can’t make the donation by year end, make it a New Year’s resolution to do this in January , and get the deduction next year. READ MORE...
Fraudulent Phone Calls Claiming to be from the Internal Revenue Service
By Matthew S. Abrams, CPA
01-31-24
Criminal enterprises are attempting to defraud taxpayers by calling people claiming they are from the Internal Revenue Service. They often are polite and professionally speaking, and will say that they are from the Internal Revenue Service (IRS) and are initiating a lawsuit to collect taxes you owe. This should alert you that this is a fraudulent call because the IRS does NOT call taxpayers, they only will mail letters if you owe any taxes.
If you get such a call, ask the caller for their name and IRS badge number. Never provide the caller any information. I have found that they immediately hang up if you ask this. They will even hang up if you simply ask for their name. Should they give you a name and a badge number, write the information down and call the IRS fraud division at 800-366-4484 and ask to speak to someone who will verify that the name and ID is valid. If you are concerned that the phone call is valid, it would be best to give me a call and have me contact the IRS for you to ascertain if you have any tax issues to be resolved. Because the IRS policy is not to contact taxpayers by phone, you should consider the call fraudulent, and not call the person back.
Should you receive one of these calls, you can file a complaint with the IRS by going to the Treasury Inspector General for Tax Administration and clicking on "IRS Impersonation Scam Reporting".
Deductions Are More Than Just a Number - Know The Basics!
By Matthew S. Abrams, CPA
01-31-24
All too often, clients will estimate a deduction by drawing on memory or logic. Unfortunately, neither of these necessarily makes the deduction legitimate or the amount defensible. It's so important for the taxpayer to understand the basic limitations and record keeping expectations of deductions, and develop a system of organizing, tracking and determining deductible expenses throughout the year. So for your benefit, I've outlined the basic information for the most popular deduction categories. READ MORE...