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Welcome to


The Learning Center

One of our core values is empowerment through education - it means a lot to us.

The Learning Center was made as a resource for business owners and inquisitive individuals who want to learn more about the current world of taxes and accounting.  If that sounds like you, you're in the right place.

Reach out if you have any questions.  Thanks!

John Kirkland

John Kirkland

John empowers our clients by educating them on tax rules and processes. When not fighting the good fight at DiMercurio Advisors you can find John cheering for the UCF Knights. Charge On.

Recent posts by John Kirkland

2 min read

S Corporations: Reasonable Compensation Explained

By John Kirkland on Feb 03, 2021

An S corporation is a pass-through entity that is treated very much like a partnership for federal income tax purposes. As a result, all income is passed through to the shareholders and taxed at their individual tax rates.

Topics: Tax Payroll Tax - Individual Tax - Business S-Corporation
3 min read

3 Common Personal Income Tax Problems & How to Respond

By John Kirkland on Feb 02, 2021

Tax problems aren't just a worry that hang over people's heads from January through April every year. Many of them go far beyond the numbers that you report, and they can require additional evidence that your bank statements and paychecks can't provide. Additionally, the IRS isn't the only source of those problems: state tax authorities are hungry for revenue, and if you divide your time among different states, you may find it difficult to establish nexus and may even have to file taxes in multiple states.

Topics: Tax Tax - Individual
5 min read

When should I issue Form 1099?

By John Kirkland on Dec 14, 2020


The Form 1099 rules can get complicated - staying compliant doesn’t have to be.  For the 2020 tax year, the Internal Revenue Service (IRS) has made some changes that could impact the way you have to issue Form 1099s.  Read below to learn about the new rules and how your business may be affected.

Topics: Tax Payroll Tax - Business Contractors
4 min read

Your Guide to Using 529 College Savings Plans

By John Kirkland on Jul 15, 2020

When it comes to saving for your child’s future college expenses, 529 college savings plans are one of the most popular options — and for good reason. These plans allow you to tuck away money for future tuition expenses without taking a hit from taxes. 

Topics: Tax Tax - Individual
2 min read

Self-Employed and Independent Contractors Now Qualify for Unemployment Benefits

By John Kirkland on Apr 07, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27th by President Trump, includes an unemployment assistance program for individuals who under normal circumstances would not qualify for unemployment benefits, which traditionally have only applied to employees. Under the CARES Act, unemployment benefits are now available for self-employed individuals, independent contractors and others – even some with limited work history – who are unable to work because of the coronavirus emergency.

Topics: Tax - Individual Coronavirus Contractors
3 min read

Stimulus Legislation Includes SBA Loan Forgiveness

By John Kirkland on Apr 03, 2020

Among the hardest hit during the coronavirus epidemic are the small businesses that have lost their revenue sources and do not have the financial resources to weather the storm. In this case, the federal government’s SBA (Small Business Administration) Economic Injury Disaster Loan (EIDL) can help a business make it through these trying times.

Topics: Tax Tax - Business Coronavirus
2 min read

Tax Credit Pays for Keeping Employees on Payroll

By John Kirkland on Apr 01, 2020

To help businesses retain employees and keep them employed during the COVID-19 crisis, Congress has provided a refundable employer retention credit available to all qualifying employers regardless of size, including tax-exempt organizations.

Topics: Payroll Tax - Business Running Your Business Employees Coronavirus
10 min read

Understanding Tax Lingo

By John Kirkland on Jan 03, 2020

When discussing taxes, reading tax related articles or interpreting instructions, one needs to understand the lingo and acronyms used by tax professionals and authors to be able to grasp what they are saying. It can be difficult to understand tax strategies if you are not familiar with the basic terminologies used in taxation. The following provides you with the basic details associated with the most frequently encountered tax terms.

Topics: Tax Tax - Individual Tax - Business Tax 101
2 min read

Understanding Your Annual Social Security Letter

By John Kirkland on Dec 31, 2019

If you are receiving Social Security, then you have just recently received your annual letter from the Social Security Administration letting you know that your Social Security benefits for 2020 have increased by 1.6 percent as a result of a rise in the cost of living. The letter also lets you know how much will be withheld from your monthly retirement benefit for Medicare Parts B (medical insurance) and D (Prescription Drug Plan).

Topics: Tax Tax - Individual