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We understand that navigating the multitude of account options for saving can be a daunting task. From 401(k) plans to IRAs, 529 plans, taxable brokerage accounts, and more, it’s a maze of letters, numbers, and tax rules. However, the optimal financial strategy varies from person to person.

Starting a new business can be both exciting and challenging, and we want to ensure that you are well-prepared for the tax responsibilities that come with it. The IRS offers valuable resources to help new business owners navigate the tax aspects of running a business effectively. Here

We’d like to highlight an excellent opportunity for you to empower your child or grandchild to jump-start their savings journey and learn valuable financial skills. Encouraging them to consider a Roth IRA can be an intelligent move with long-term benefits. Why Roth IRAs for Kids and Grandkids

With the fall semester upon us, many of you may be considering how to finance your college expenses. Considering this, we wanted to share some critical insights from a recent CNBC article regarding private student loans and their associated risks. The private student loan market has experienced

We wanted to share an informative CPA Practice Advisor article with you that delves into the taxation of retirement income. It’s essential to be aware of these considerations as they can significantly impact your financial planning during retirement. Required Minimum Distributions (RMDs): RMDs for traditional IRAs and

We wanted to bring to your attention an essential development in the realm of cryptocurrency taxation that may affect some of you. According to a recent CPA Practice Advisor article, there has been a noticeable increase in individuals buying and selling digital assets like Bitcoin and Ethereum.

Taxpayers who make home energy improvements starting in 2023 may be able to take advantage of tax credits for a portion of the qualifying expenses. The credit amounts were increased, and the types of qualifying expenses were expanded by the Inflation Reduction Act of 2022. Who can

The Inflation Reduction Act of 2022 (IRA) changed the Clean Vehicle Tax Creditfor qualified plug-in electric drive motor vehicles, including adding fuel cell vehicles. Before purchasing a clean vehicle, we encourage you to confirm the following items to ensure it qualifies for a tax credit: Qualified Manufacturer

Businesses receiving over $10,000 in cash must report transactions to the U.S. government. Information reported on Form 8300 can help uncover tax evaders, criminals profiting from the drug trade, and others committing potentially criminal conduct. Beginning Jan. 1, 2024, businesses that file 10 or more information returns

The Internal Revenue Code is littered with tax credits available to taxpayers, both individuals and businesses.  A tax credit is a dollar-for-dollar reduction of tax rather than a deduction.  The following summarizes some of the most used Business Federal tax credits available.  Additional detailed qualifications should be