Running a medical practice is both a clinical and business responsibility. While patient care is always the priority, strong medical practice management is what determines long-term profitability and stability. Many healthcare practice owners unintentionally make financial and operational mistakes that limit growth, reduce profitability, and increase tax exposure. If you own or manage a medical practice, here are the top five mistakes to avoid. 1. Failing to Monitor Profitabi

Running a medical practice requires more than excellent patient care. Behind every successful healthcare practice is a strong financial strategy. Without proactive medical practice tax planning, physicians often overpay in taxes, struggle with cash flow, and miss opportunities to improve profitability. The right tax strategy can reduce liability, strengthen financial stability, and support long term growth. Proactive Medical Practice Tax Planning vs. Reactive Tax Filing Many

Running a law firm in the Tampa area comes with enough complexity. Between managing cases, serving clients, and staying competitive, financial oversight often gets pushed to the bottom of the list. Unfortunately, accounting mistakes are one of the biggest risks we see with local law firms. From trust account violations to inaccurate reporting, small issues can quickly turn into compliance problems and cash flow stress. Here are five costly accounting mistakes attorneys make a

Running a law firm requires precision, and that applies to your finances just as much as your legal work. Law firm accounting is not the same as standard small business bookkeeping. Between trust accounts, retainers, partner distributions, and compliance requirements, attorneys need specialized accounting support. At Kamish & Associates, we provide law firm accounting services designed specifically for attorneys who want accurate books, compliant trust accounting, and clear f

As the IRS continues to modernize how tax refunds are issued, direct deposit is no longer just a convenience. It is quickly becoming the standard. Taxpayers who file a 2025 tax return without direct deposit information should be prepared for possible delays in receiving their refund. Why the IRS Is Moving Away From Paper Checks In late March 2025, the President signed Executive Order 14247, which directs the federal government to phase out paper checks for payments going out

The new IRS overtime deduction under Section 225 is creating a lot of confusion among taxpayers and tax professionals, especially because reporting requirements for 2025 are limited. The IRS has provided guidance in Notice 2025-69, but many complex situations remain unclear. As a result, employees and employers may not have all the information needed on a standard Form W-2 to correctly calculate the deduction. At Kamish & Associates, we want to help taxpayers understand how t

Tax season can feel overwhelming, especially when you’re trying to keep track of payments, refunds, IRS notices, or past tax records. The good news is that the IRS now offers a secure online tool that makes managing your personal tax information much easier. At Kamish & Associates, we’re always looking for ways to help our clients stay informed and organized year-round. One of the best resources available is the IRS Online Account for Individuals, which gives you quick access

Recent updates from the United States Postal Service (USPS) may affect taxpayers who mail their tax returns or tax payments close to the filing deadline. At Kamish & Associates, we want to make sure you understand these changes so you can avoid unnecessary penalties or delays. USPS Postmark Clarification for 2026 On January 2, 2026, USPS posted an important clarification regarding how mail is postmarked. While USPS is not changing its postmarking procedures, it is making chan

Running a small business means wearing a lot of hats. Sales, customer service, marketing, operations… the list never ends. And somewhere in the middle of all that, bookkeeping and accounting usually get pushed to the bottom of the pile. Not because it isn’t important, but because most business owners are busy doing what actually brings in revenue. That’s exactly why monthly accounting support is one of the smartest delegations a business owner can make. Your Time Is Better Sp

Tax season can already feel stressful without worrying about scams and fake IRS contacts. Scammers often pose as the IRS to trick people into sharing personal or financial information. At Kamish and Associates, we want you to feel confident knowing how the IRS actually communicates and how to spot red flags. How the IRS Typically Contacts You The IRS is paper driven. In almost all situations, they start contact by mail through the U.S. Postal Service. If there is an issue wit

The IRS and Treasury Department have released initial guidance on a new type of tax-advantaged savings account for children called Trump Accounts . These accounts were created under the Working Families Tax Cuts  portion of the One Big Beautiful Bill Act. They’re designed to help families build long-term savings for their children’s future while offering tax-deferred growth, similar to an individual retirement account (IRA). What Is a Trump Account? Trump Accounts are individ

With recent changes to the tax rules, many taxpayers have questions about the vehicle loan interest deduction. While this deduction can be valuable in the right situation, it comes with specific requirements and limitations. Below, we break down the key points you should understand before assuming this interest will reduce your tax bill. How Vehicle Loan Interest Is Reported One of the biggest questions surrounding this deduction is how taxpayers will receive information abou

Real estate investing comes with powerful tax advantages, but many investors miss out on them or create avoidable problems without realizing it. In many cases, these issues don’t come from poor investing decisions, but from common tax mistakes that compound over time. Understanding where investors tend to go wrong is the first step toward protecting cash flow, staying compliant, and building long-term wealth. Mistake #1: Assuming Real Estate Taxes Are Straightforward A common

Real estate investing offers powerful tax advantages, but only when those rules are applied correctly. Many investors unknowingly overpay in taxes or make decisions that create issues later, simply because real estate taxation is more complex than it appears. From rental income reporting to depreciation, entity structure, and long-term planning, real estate taxes require a different level of expertise. Understanding these challenges early can make a significant difference in

When most people think about their CPA, they think about taxes once a year. In reality, your CPA should be one of your most trusted business advisors year round. A strong relationship with your CPA can save you money, reduce stress, and help you make smarter financial decisions. At Kamish and Associates, we believe the best results happen when we work closely with our clients, not just at tax time, but throughout the year. Your CPA Should Understand Your Full Financial Pictur

Running a business comes with enough stress. Your accounting firm should help reduce it, not add to it. At Kamish & Associates, we believe accounting is about more than tax returns and financial statements. It’s about providing clear guidance, staying ahead of issues, and giving clients peace of mind that someone knowledgeable is truly looking out for their business. We work with small businesses and professionals across many industries, including doctors, attorneys, real est

One of the most common misconceptions we see is this:People assume that when they pay for tax filing, they are also getting tax planning. In reality, those are two very different services. If you’re paying $500 to $1,000 for tax preparation, you’re paying for accurate filing and compliance. You’re not paying for in-depth, year-round strategy. And that’s okay, as long as you understand the difference. What Tax Filing Really Is Tax filing is backward-looking. It focuses on wh

We’re excited to roll out a new update that will make tax season smoother for everyone. Starting this year, all tax return appointments will be scheduled through SchedulEase , our new online system designed to save you time and reduce back-and-forth. Why We Made the Change Each year we look for ways to make filing easier and more efficient for our clients. SchedulEase gives you a simple, organized way to manage your tax appointment by allowing you to: Schedule in just a few c

The House of Representatives recently approved two bills that aim to give taxpayers stronger protections when dealing with the IRS and the United States Tax Court. These changes are not law yet, but they are important steps that could make the tax process fairer and more predictable. What’s Changing 1. IRS Penalty Approval Rules A bill called the Fair and Accountable IRS Reviews Act  would require IRS agents to get written approval from their direct supervisor before assessin

What the new rules mean for your giving strategy If you’re someone who gives regularly to charities, the OBBBA (Ongoing Budget, Benefits & Business Act) brings some changes you’ll want to know about. Lawmakers kept the charitable deduction in place, but they added new limitations that can affect how much you’re allowed to deduct each year. Below is a simple breakdown of what changed and what it means for your tax planning moving forward. When Do These Changes Start? The new r