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Bullseye Personal Finance LLC

"Freedom to Cashflow"

Tax, Business and Financial Planning is Easy!

We provide personal financial planning, tax and business services to individuals and organizations with a hands-on, comprehensive approach. This helps our clients navigate through and balance their Life, Business, and Financial Plans. We deliver practical solutions to real problems in a personalized format and cost suited for you. This approach creates greater personal and financial proactivity which leads to exceptional LIFESTYLES, WEALTH & RETIREMENTS. Personalize your plans today!
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About Us

Bullseye Personal Finance LLC — provides our clients with the most focused personalized solutions for Wealth Building and Retirement Planning.
  • Help clients maximize their retirement wealth
  • Reduce taxes through clearly communicating strategies
  • Reduce the stress from uncertain financial markets via safety first
  • Create plans where you are in the driver's seat

Gil Abernathy

Managing Partner & Founder
With over 40 years in the business of helping others achieve successful careers, businesses, wealth and retirements, Gil lives the lifestyle and advises clients from lessons learned throughout his career and extensive education working with Small and Big Businesses, the Wealthy and Startups. "My greatest lesson has been recognizing the need to seek expert counsel and support, preferably before and definitely when confronted with bigger challenges. Challenges often arise when in pursuit of the Good Life." Gil is a Successful Entrepreneur, Former Big 4 CPA, Controller, CFO and current Wealth & Retirement Advisor at Bullseye Personal Finance LLC. He graduated from Quinnipiac University with a BS in Accounting and Minor in Psychology. He has a Master's Degree from USF in Applied Technology & Entrepreneurship. He loves the Outdoors, Gourmet Food & Drink, Travel, Hiking, Kayaking and spending time with his wife Carol Ann, children Bryan, Lauren, Alison, Sarah, Shane, two grandchildren Nolan and Ross, and other family and friends.

What We Do

RETIREMENT REVIEW
A retirement review is a very personal and important process. You and your spouse decided to retire and spend more time together. Maybe you felt pressured by family or friends to retire early. Either way, this is your time to review and adjust your plans as you see fit. If you need help deciding on your next move, contact us for information on retirement and life planning for the golden years.
Taxes
Taxes are something that most people would rather defer or minimize. They are a fact of life. We understand Personal, Business, Non-Profit, Trust and Retirement taxes like no other. Let us assist you in keeping this expense controlled and fair. We provide full tax preparation and planning services in a timely and cost effective way. Reach out today!
Consultancy
More and more people are planning to retire in the next few years and many of them are not sure how to go about it. If there was ever a time where even the most die-hard, plan avoidant person finds their way to our office, it is in their retirement. For one reason only, there isn't enough years left to recover from bad decisions. If you are planning to retire soon, there are a few things that you should know. One of the most important things is where to find good advice. Get expert advice NOW!
Business/ LLC Creation
Building a business often times leads to substantial wealth. We provide a full array of services to support this endeavour. Retiring and starting a business can be a daunting task. There are a lot of moving pieces to consider and many decisions to be made. One of the most important decisions that needs to be made early in the process is whether it is a good strategy for you. Call us for a free consultation!

Recent Financial News That Impacts us All

The NEW Federal requirement, BOI Reporting was established by the 2021 Corporate Transparency Act and went into effect on January 1, 2024. Your BOI report needs to be filed with the Financial Crime Enforcement Network (FinCEN) before your company's due date. Beneficial Ownership Information Reporting | FinCEN.gov
What is Beneficial Ownership Information?
Beneficial ownership information refers to identifying information about the individuals who directly or indirectly own or control a company.


Watch this video for more information on the Corporate Transparency Act and the Beneficial Ownership Report.
We recommend not filing this on your own. We have set up a procedure for expediting compliance at a minimal cost. ------------------------------ Simply upload all partners, shareholders, and stockholder Driver's license copies (front and back) to your portal account and pay the $75 bill per entity in portal thus authorizing us to file on your behalf. --------------------------------
Note: Many of you have already done one or both of these requirements.
Please complete both tasks. We are in the process of filing those that have done both. For those of you who haven't, please arrange to do so promptly.

Navigating Tax Implications for Disasters: What You Need to Know in 2025

2024 was a difficult year for natural disasters in our area. With Hurricanes Helene and Milton causing millions of dollars in damage to homes and businesses. Disasters can strike unexpectedly, leaving financial and emotional challenges in their wake. For individuals and businesses affected by natural disasters, understanding the tax implications can be a critical part of the recovery process.
Here are some of the key tax provisions and strategies we believe you need to know in 2025 to help navigate financial recovery after a disaster.
Casualty Loss Deductions for Federally Declared Disasters
If you live in an area declared a federal disaster zone by the president, you may qualify to deduct unreimbursed casualty losses on your federal income tax return.
 Deducting Losses: Losses must only exceed $500 per casualty. This is a change from the previous requirement of exceeding 10% of Adjusted Gross Income also.  Additional Standard Deduction: Even if you don’t itemize deductions, you may claim an additional standard deduction for disaster-related losses.
Filing Extensions and Tax Relief for Disaster Areas
The IRS often grants automatic filing and payment extensions for taxpayers in federally declared disaster areas. These include: If you live in an area declared a federal disaster zone by the president, you may qualify to deduct unreimbursed casualty losses on your federal income tax return. Deducting Losses: Losses must only exceed $500 per casualty. This is a change from the previous requirement of exceeding 10% of Adjusted Gross Income also.  Additional Standard Deduction: Even if you don’t itemize deductions, you may claim an additional standard deduction for disaster-related losses. Penalty waivers for late payments.
Retirement Account Hardship Distributions
For those facing financial strain after a disaster, retirement accounts can offer a lifeline. In federally declared disaster areas:  Early withdrawals from IRAs or 401(k)s may qualify for penalty-free distributions if used for disaster-related expenses.  Withdrawals are subject to income tax but can be repaid within three years to avoid taxes entirely.
Business Disaster Relief Provisions
Disasters often impact businesses significantly, but tax relief can help mitigate some of the financial burden. Key provisions include:  Claiming Losses: Businesses can deduct disaster-related losses on the current or prior year’s tax return for faster refunds.  Employee Retention Tax Credits (ERTC): Credits may be available for businesses retaining employees during disaster recovery.
Tax-Free Insurance Reimbursements and Grants
Insurance payouts and disaster relief grants are generally not taxable if used to restore your property to its pre-disaster condition. However, improper use of these funds could trigger tax liability.
 A FEMA grant to repair storm damage to your roof would not be taxed.  A FEMA grant for temporary housing would not be taxed.
Qualified Disaster-Related Payments
Employers can provide tax-free financial support to employees for disaster-related expenses, such as housing or transportation. These payments are excluded from the employee’s taxable income and deductible for the employer.  Example: A company helping employees relocate after a hurricane can offer direct, tax-free assistance.
Navigating the tax implications of disasters can be complex, but you don’t have to do it alone. Our team of experienced tax professionals is here to help you understand your options, maximize your deductions, and make the recovery process smoother. Contact us today to learn more or schedule a consultation.

We Are Your Partners in Providing the Highest Quality Personalized Financial Planning Services for a Successful Lifestyle & Retirement.

Planning and Living the Lifestyle of Your Dreams