Page 8 - PGA Community News - June '21
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Page 8, PGA C.A.N.!                                                   June 2021                                                                                                                                                     June 2021

      Tax Talk

      Dear Friends:                                     law firm or medical practice with multiple practitioners),      Answer:  No.  If  you  are  a  home-based  employee
         With more than 90,000                          each professional under your office roof will need their   answering customer service calls from your home for your
      businesses  in  Palm  Beach                       own BTR. Also, check with your local municipality for   company and you receive a W-2 from that company, you
      County,  we  are  preparing                       its local Business Tax Receipt requirements.       do not need to obtain a BTR.
      for  the  annual  Business                           Question:  I’m  an  art  student  and  run  a  small  side      Visit  for  full
      Tax Receipt (BTR) renewal                         business selling my crafts directly to buyers on Instagram   details, forms, and an online payment portal.
      period  which  runs  July  1                      and other selling platforms like Etsy, do I need a Business
      through Sept. 30. I thought                       Tax Receipt?                                       Important Dates And
      this  would  be  a  perfect                          Answer: Yes, you do need a Business Tax Receipt, even
      time to answer some of the                        if you’re selling homemade goods online and don’t intend   Deadlines
      more common questions we                          to open a storefront. The BTR application is available on
      receive about the BTR and                and the annual BTR renewal fee can be   June    National Safety Month
      to provide you with resources for additional information.  paid online. Also check with your local municipality for   June 1   Tourist Development Tax Due
         June also brings the start of hurricane season and I, like   its local Business Tax Receipt requirements.        Hurricane Season Begins
      you, want to be prepared for any storms that may come      Question: I live in Martin County but run a construction   June 20  Father’s Day
      our way this year. Now is the time to make your plans and   business that recently started doing work in Palm Beach   June 30  June  Discounted  Installment  Payment  Plan
      we want to help you with those plans, so I am thrilled to   County, what are my Business Tax Receipt obligations?  Payment Due
      announce the availability of our hurricane guide for our      Answer: You will need to apply for a BTR from Palm
      Palm Beach County residents and businesses.       Beach County by visiting and be sure to
                                              Stay safe,  check the local municipalities within Palm Beach County
                                       Anne M. Gannon,  that you are doing business in, as each has separate BTR
                             Constitutional Tax Collector,   requirements, and will verify that your BTR is up to date
                              Serving Palm Beach County  prior to issuing work permits. You are required to obtain
                                                        a BTR within 30 days of starting business in Palm Beach
                                                        County, and penalties will be charged after that grace period.
                                                           Question: I work from home as a customer service
                                                        representative answering phone calls for my employer,
                                                        who has provided me with all the necessary equipment I
                                                        need to perform my job, do I need a Business Tax Receipt?

                                                              Asset Advisory Services – Forty Years

                                                                of Designing Personalized Financial

      Plan. Prepare. Protect.                                   Solutions with Insight and Integrity

         June 1 marks the beginning of hurricane season and
      each year at this time it is all about preparations. Those     We know how incredibly personal it is to plan for a     Managing your Wealth in Alignment with
      of us who have been through storms before, understand   lifetime of secure financial fulfillment. It is the very basis that   your Life - Our 5-Step Approach:
      the importance of preparing and planning to avoid being   we at Asset Advisory Services promise to draw from when   Discovery – Assessment – Evaluation –
      caught  off  guard  from  an  approaching  storm.  For  our   crafting a unique approach, tailored to fit your individual   Implementation – Adaption
      newest neighbors who have not experienced one of these   financial goals - planned to suit what is most important to    Our  top  goal  is  to  exceed  expectations  with  care.
      tropical storms or hurricanes, we can help you become   you. We are celebrating our fourth decade of providing the  One way we accomplish this is by offering educational
      more  prepared  and  more  informed  with  your  storm   highest level of care to our clients.       workshops to expand your knowledge and illuminate our
      preparations. We are very proud to once again provide     Our Founder, Curtis S. Francisco, CFP , AIF  built the  wide array of services to you. At Asset Advisory Services,
      our Hurricane Guide filled with crucial information for   firm from a strong work ethic and personalized touch to help  we lend our expertise in helping you manage the many
      preparing  for  this  year’s  hurricane  season. The  guide   people make their very best investment choices. His son Joe  and complicated factors that contribute to a stable and
      is chock-full of information, such as, important phone   has worked alongside him in the firm for the past 6 years.  sustainable Financial Home.
      numbers, items to include in your hurricane supply kit   Our staff consists of seasoned professionals with over 20    Our clients count on us to review market trends and
      and steps you can take to prepare before a storm arrives.  years of combined experience.             current events, monitor and advise them on cash flow and
         To download a copy of our Hurricane Guide, please     Our advisors at AAS take the time to get to know you and  performance, and to keep their portfolios on track to the
      visit                               your family and take pride in the practice of “relationship  highest consistent level of performance possible. Throughout
                                                          investing.” Realizing that your needs and experiences will  the year we review current tax returns, and advise on
      New Business Listing                                shift over the years as you flow with your loved ones from  strategies to secure better deductions, to minimize your tax
                                                          Accumulating your Wealth to De-cumulating your Wealth,  liability in conjunction with saving for your retirement.
                            Did  you  know  that  we  offer   our intention is to invest in you as a partner in your process.    When  questions  about  your  investments,  your  tax
                         new Palm Beach County business   Our goal is to help you pursue your short and long-term  planning, your complex estate concerns, your retirement,
                         listings  to  the  general  public   dreams, no matter your stage in life.        planning and maintaining proper levels of your insurance
                         through our subscription service?                                                 arise, think of Asset Advisory Services – we are here to keep
                         Visit to complete     “Our approach gives us a unique              you on the path to Financial Freedom.
      an application to sign up for this subscription service.  perspective that allows us to create
                                                          the right plan for you and your
      Ask Anne                                            investments. We can help you get
                                                          where you want to go safely, while
         We  receive  many                                managing the risks that can impede
      inquiries  from  business                           your progress.”
      owners, sole proprietors                                 - Curtis S. Francisco, CFP ,
      and  professionals  who                                AIF , Founder, President, Asset
      work  from  home  and                                             Advisory Services
      others  about  the  local                                                                            The team that has the knowledge and credentials to deliver
      Business  Tax  Receipt                                      We host educational workshops and        everything you need to plan for your future. Left to right
      (BTR). Any  person  selling  merchandise  or  services  in   appreciation events that keep our clients at the   - Andrew J. Francisco, M.Ed., Associate Advisor; Joseph
      Palm Beach County, or operating as a one-person, remote,   center of the personalized care we deliver with   C. Francisco, AIF , Vice President; Curtis S. Francisco,
      or home-based business must have a BTR, and renew it            consistency and dedication.          CFP , AIF , President; Lori M. Colclasure, CFP , CPA,
      annually. There are some exemptions to this requirement     The experienced team at Asset Advisory Services brings   RICP, CDFA, Wealth Advisor  Photo credit: Scott Steger
      that can be found on our website, You   strength of a unified team approach. Our “big-picture”
      must also check with your local city or municipality in   mindset to financial wholeness keeps us focused on actively   We look forward to hearing from you at: 561.747.9550
      which you operate as to local business requirements as   retaining “financial staying-power” vs. passively pursuing   To schedule your Complimentary Financial Review
      well.  Recently,  we  have  been  hearing  from  remote  or   simple “financial management.” This care is what clients have   Asset Advisory Services, Inc.
      home-based professionals seeking information. Here are   come to count on from us throughout the years. Our system   Three Palms Center
      a few questions from Tax Talk readers.              of review meetings and meaningful updates helps us keep a   2141 Alt A1A South Suite 310
         Question: I just moved to Florida and plan on working   pulse on what is happening in your life, and assist you with   Jupiter, Florida 33477
      remotely before establishing an office for my business,   mapping out new strategies as you navigate each stage of life.  To learn more about what we can do for you,
      what Business Tax Receipt type will I need to obtain?    Is the financial planning process new to you, or are you   please visit us at:
         Answer: As a sole professional working from your   simply in need of a second opinion? We are happy to help.
      home, you will need to apply for a Business Tax Receipt     We take pride in being the premier colleague in your big-  Securities and Advisory Services Offered through Commonwealth Financial
                                                                                                               Network  Member FINRA/SIPC, a Registered Investment Adviser.
      (BTR) for yourself. Once you open your office, the office   picture financial success plan!          Fixed Insurance products and services offered through CES Insurance Agency
      will need a BTR as well. If you grow your business and                                        Paid Advertisment
      have other professionals working in your office (such as a
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