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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

Published on Feb 03, 2021 by John Kirkland | Last updated on Jul 21, 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.

Tax - Individual Tax - Business
3 min read

3 Common Personal Income Tax Problems & How to Respond

Published on Feb 02, 2021 by John Kirkland | Last updated on Jul 21, 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.

Tax - Individual
4 min read

Your Guide to Using 529 College Savings Plans

Published on Jul 15, 2020 by John Kirkland | Last updated on Jul 21, 2021

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. 

Tax - Individual
2 min read

Self-Employed and Independent Contractors Now Qualify for Unemployment Benefits

Published on Apr 07, 2020 by John Kirkland | Last updated on Jul 21, 2021

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.

Tax - Individual Coronavirus
3 min read

Stimulus Legislation Includes SBA Loan Forgiveness

Published on Apr 03, 2020 by John Kirkland | Last updated on Jul 21, 2021

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.

Tax - Business Coronavirus
2 min read

Tax Credit Pays for Keeping Employees on Payroll

Published on Apr 01, 2020 by John Kirkland | Last updated on Jul 21, 2021

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.

Tax - Business Running Your Business Coronavirus
10 min read

Understanding Tax Lingo

Published on Jan 03, 2020 by John Kirkland | Last updated on Jul 21, 2021

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.

Tax - Individual Tax - Business
2 min read

Understanding Your Annual Social Security Letter

Published on Dec 31, 2019 by John Kirkland | Last updated on Jul 21, 2021

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).

Tax - Individual
6 min read

When should you issue 1099s?

Published on Dec 20, 2019 by John Kirkland | Last updated on Jul 26, 2021

Form 1099 is typically used to report the income of people who aren’t your employees, like contractors and freelancers. But there are more scenarios where you have to issue a 1099.

Tax - Business Running Your Business