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

Here is a friendly reminder of the 3-year repayment rule on COVID 401(k) or IRA withdrawals.  In 2020, the CARES Act allowed taxpayers to withdraw up to $100,000 in coronavirus-related distributions from their 401(k) Plan or IRA accounts.  Many taxpayers withdrew these funds in the 2020 Tax

The IRS recently issued a Revenue Procedure outlining the revised 2024 maximum contributions to health savings accounts (HSA). The 2024 maximum contributions to an HSA will be $4,150 for individual self-coverage, an increase of $300.  For individual family coverage, the maximum 2024 contribution will be $8,300, a

The State of Arizona recently announced the corporate donation cap for the private school tax credit programs.  The 2023-2024 Fiscal Year Cap is approximately $158 Million for the low-income corporate tax credit and $6 Million for the Disabled/Displaced corporate tax credit. This program allows C or S

Getting a letter from the IRS or a State government entity about a recently filed tax return makes most taxpayers nervous.  However, DON’T PANIC!!!  All government agencies send letters when there is a question about a taxpayer’s return, a change due to something in the agency’s computer

The new SECURE 2.0 Act of 2022 has many retirement-friendly options to assist with boosting taxpayer retirement savings.  One of these is the new 529-to-Roth IRA rollover transfer, which goes into effect in 2024.  There are specific rules to follow as follows: Lifetime Maximum transfer for a

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

A final reminder to our clients that our firm’s cutoff date to receive your tax information and timely file your 2022 tax return, due on April 15, 2023, is this Wednesday, March 15, 2023.   This deadline applies to Individual (1040), C Corporations (1120 calendar year), and Trust

To our clients who file Individual (1040), C Corporations (1120 calendar year), and Trust (1041) returns, this is a friendly reminder that our firm cutoff date to receive your tax information to timely file your 2022 tax return due on April 15, 2023, is Wednesday, March 15, 2023.

To our clients who file Partnerships (1065) and S Corporations (1120-S) returns, this is a friendly reminder that our firm cutoff date to receive your tax information to timely file your 2022 tax return, due March 15, 2023, is Wednesday, February 15, 2023. If you would like your