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We wanted to bring to your attention an essential update from the Internal Revenue Service (IRS) regarding educational assistance programs that can assist employees in paying off their student loans. Under federal law, this initiative allows employers with educational assistance programs to use them to benefit their

Considering recent developments in tax compliance, we wanted to provide you with necessary information regarding the IRS’s increased scrutiny of Employee Retention Credit (ERC) claims, a topic of significant concern for businesses. The ERC, established as part of pandemic relief efforts, is a valuable tax credit designed

For our clients who pay quarterly estimated tax payment vouchers, this is a friendly reminder the next payment is due on or before September 15, 2023.  If there has been any changes in your 2023 taxable income projections, let us know as soon as possible to determine

Many business owners are trying to strategize to lower their tax bill. Have you ever considered hiring your children? Though it sounds easy to add your children to payroll; there are also important IRS rules to follow. The article linked below addresses on: 🏦 Tax Advantages Learn

Your security is our top priority, and we want to ensure that you stay informed and protected against potential threats. The IRS has recently issued a critical warning about a wave of summer email, mail, and text scams targeting taxpayers like you. It’s crucial to be extra

The IRS is warning of a new scam mailing to mislead taxpayers into providing valuable personal information. As we always state, the IRS will not contact you via phone, email, or text without first mailing a letter. Therefore, scammers are now trying to mail a package to

With the increased standard deduction starting with tax year 2018, claiming a deduction for charitable contributions has been more challenging.  If you are charitably inclined to donate to 501(c)(3) organizations, there are different options for the best tax benefit. Donor Advised Funds – this allows for an

The AICPA Tax Advisor recently published the article below detailing the various benefits of a 529 college savings plan and looking at other investment accounts for education funding.  A few benefits are bulleted here, with the article going into more detail. Contributions are after-tax dollars, investment growth

he following article, recently issued by Kiplinger, details five excellent ideas to increase your savings for retirement. Take advantage of all benefits through your employer Increase savings by 1% Convert Traditional IRAs into a Roth IRA Consider where you will retire Make catch-up contributions Are you maximizing

The following article, recently issued by the AICPA Tax Advisor, is an excellent reminder of the rules surrounding the tax provisions for a “trade or business.” Various tax items do not apply if the activity is determined to be a hobby or investment. If an activity fails