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Secure Document Exchange Portal Dear Valued Client, We now use Client Center, a secure web portal, to easily exchange files and communications (tax questionnaire, eSignature, supporting documents, and returns). This is a web portal that you log in to, with helpful features and even a mobile app option. Use the following steps and resources to get started.   ! From this month on all of our clients will receive a Registration…  Read more

Actualización de parte del Secredtaio de Hacienda de Puerto Rico sobre el desembolso de ayuda de los $600.00.  Oprima aqui para ver la actualización de hoy (1/7/2021).    Read more

FECHA LÍMITE | La radicación de planilla con prórroga solicitada en o antes del 15 de julio de 2020 y el pago del segundo plazo de contribución adeudada con la planilla radicada para el año 2019 vence el 15 de enero de 2021. pic.twitter.com/xed9AFzo8B — Dpto. de Hacienda (@DptoHacienda) October 15, 2020  Read more

Thank you for the opportunity to be part in this extraordinary meeting to speak about reorganization matters and financial aids… https://www.facebook.com/AsociacionMuseosPR/photos/a.312185862144726/3298669906829625/?type=3&theater  Read more

The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits.

With the COVID-19 pandemic escalating, both CPA firms and their clients are facing emergency planning issues.  As a small CPA firm we are not exempt from this.  The most pressing issues are protecting the health of our employees, our clients, and preserving business continuity.   Thus we hereby share some of the measures we have taken: We are advising clients to deliver documents via our secure document portal service (my-cpa-file).  This…  Read more

Thanks to Victor Gonzalez from Infusion Investments for inviting me to their 23rd podcast and speak about basic investment income taxes in Puerto Rico. Jose Javier Infusion Investments  Read more

Soon most people, specially subcontractors, will start thinking about the 2019 tax preparation for the April 2020 tax filings. But the best advice is to start getting ready during the year instead of waiting to the last minute. One of the best ways to do this is by using business apps.  You can use apps for invoicing, expense record keeping, and even mileage tracking.  There are a lot of great…  Read more

The holiday season is once again here, and with it comes time to relax, focus on family and friends and take stock in what is really important in life. Unless you’re a small business owner. Every small business owner knows that being away from the office can be just as stressful as being in it. Phone calls from employees dealing with a minor crisis will pull your focus from your…  Read more

We are delighted to inform that Advanced CPA, LLC d/b/a JN CPA & Advisors has been named as SFAI International’s member firm for Puerto Rico. SFAI is an international organization with presence in over 50 countries.  The members are leading firms in the fields of Audit, Advisory, Consulting, Financial Advisory, Risk Advisory, and Taxes.  SFAI is also member of the International Federation of Accountant’s (IFAC) Forum of Firms. As part…  Read more

Preparing for tax season is really a year-round endeavor. Tip number one for Small Business Owners (SMB) owners is to update financials on a monthly basis, using a streamlined software or cloud-based system. This way, come tax time, everything you need is all in one place. And well organized SMBs are better positioned to minimize their tax bill while avoiding penalties associated with missing or inaccurate information. Here are four…  Read more

It’s the line item most often left out of a small company’s budget: the business owner’s salary. Let’s face it: you can always spend cash on your business. From office expenses to employee salaries to rent, every month a portion of your revenue is accounted for. But paying yourself first is a must. Even if you don’t need to earn a living – paying yourself can actually help your business…  Read more

The Puerto Rico Treasury Department (Hacienda) and has issued Circular Letter CCRI 19-05, to implement the elimination of the 4% Sales and Use Tax (SUT).  This will be applicable for PYMES with yearly gross revenues of $200,000.00 or less.   The exemption includes some designated professional services and other merchants. The 4% services SUT (IVU in spanish) is a tax applicable to designated professional services like CPA’s, lawyers, engineers, etc.  Amendments…  Read more

With this court ruling thousands of policyholders would still be able to review their claims for damages suffered under Hurricanes Irma and Maria.  More so it shows that there could still be thousands of unresolved claims even when statistics show otherwise.  Lots of work pending for insurance adjusters. Judge rules 1-year statute of limitation to file insurance claims in Puerto Rico is not final #insuranceclaims, #pubicadjuster #puertorico #negroncpa  Read more

Federal Employees, Taxes, and Puerto Rico Some Federal Agency employees, specially those that worked during the Hurricane Maria emergency, had local income taxes retained as part of their work in the island.  Must importantly they must file a tax return with the Commonwealth of Puerto Rico.  Do you need a CPA in Puerto Rico to take care of this matter? https://www.irs.gov/individuals/international-taxpayers/special-withholding-rules-for-us-federal-agency-employers-with-employees-in-cnmi-or-puerto-rico Contact us..  Read more

Ideally, you and your CPA are more than just “adviser” and “client”. With your combined skills, expertise, and shared mission to support a thriving business, you’re more like strategic partners. The key to achieving success in any partnership is, of course, strong communication. At your next meeting, be sure to ask your CPA these four important questions. 1. What’s my best strategy for increasing revenue? Every business owner strives to…  Read more

Trying to make it as simple as possible.  On December 10, 2018 the Governor of Puerto Rico signed Law Act 257-2018 to amend some of the provisions of the Puerto Rico Internal Revenue Code of 2011, as amended.  Act 257 introduces various changes to the current tax regime.  The information provided does not constitute a consultation, it’s just form informative purposes.  Below you will find a few highlights of the…  Read more

On December 10, 2018 the Governor of Puerto Rico signed Law Act 257-2018 to amend some of the provisions of the Puerto Rico Internal Revenue Code of 2011, as amended.  Act 257 introduces various changes to the current tax regime.  The information provided does not constitute a consultation from our CPA firm.  Highlights of the changes applicable to corporations are: Corporations Regular tax rate reduced to 18.5% (previously 20%) The…  Read more

PayPal is the world leading online payment service. You can transfer money to and from your bank account, pay for goods, and even receive payments worldwide. It’s a useful tool for entrepreneurs, freelancers, and even for personal use. However, it does have its drawbacks. PayPal takes a significant chunk of money when it comes to converting and billing international payments. You could end up losing about 5% of your cash…  Read more

According to recent research, a staggering two thirds of US millionaire-owned businesses are operating without a succession plan—and even fewer small business owners around the globe are prepared for their CEO’s eventual exit. Recent stats from PWC Global show that family owned businesses are no more prepared: 43% don’t have a succession plan in place, and only 12% survive to the third generation. No matter whether your company has one…  Read more