Major Tax Sunset on the Horizon

, , , ,
Article Highlights: Estate and Gift Tax Personal Exemptions Standard Deductions Home Mortgage Interest Deduction Limitation on Tax Deductions (SALT) Suspension of Tier 2 Miscellaneous Itemized Deductions Suspension of…

8 Steps to Avoid Common Tax and Accounting Mistakes

, ,
Successfully steering a small business involves adeptly managing its financial intricacies. Amid the myriad responsibilities, tax and accounting often prove to be a potential minefield for entrepreneurs, with common mistakes capable of significantly…

E-File Mandate - Reporting of Cash Payments Over $10,000

, , , ,
Article Highlights: Reason for Form 8300 E-File Mandate Waiver Exemptions Late Returns Late Filing Penalties Record Keeping E-File Starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form…

Year-End Tax Planning Opportunities Are Here

, ,
Article Highlights for End of Year: Not Needing to File a 2023 Year Return? Are Your Children Attending College? Did You Sell Your Home This Year? Do You Have an Employer Health Flexible Spending Account? Did You Become Eligible…
Quickbooks

Year-End Prep: 5 Key QuickBooks Online Tasks Before January 1

, ,
December always seems to fly by. In just a few short weeks, Thanksgiving dinner will be over and it will be time to welcome the New Year. The holiday season brings personal obligations, but for retailers, it's also the busiest time of the year.…

Innocent Spouse Tax Relief

, , ,
Article Highlights Overview Innocent spouse relief Separation of liability Equitable relief Fairness Facts and Circumstances Confidentiality If you are or were married and filed your federal tax return jointly with your…

IRS Alters Audit Focus

, ,
Article Highlights  Audit Methods Additional Audit Funding Taxpayers Earning Less Than $400,000 Earned Income Tax Credit Taxpayers With Total Positive Income Above $1 Million Partnerships Foreign Bank Accounts Employee…

Made a Mistake on Your Tax Return, so What Happens Now?  

, ,
Article Highlights: Tax Return Mistakes are Common Fixing Tax Return Mistakes Amended Return Superseding Return Don’t Procrastinate in Responding to IRS Common Family Tax Mistakes Generally speaking, tax return mistakes…

Mid-Year Tax Planning Checklist 2023

, ,
Article Highlights: Mid-Year Planning Avoiding Unpleasant Surprises Events That Have Tax Consequences Waiting until after the close of the tax year to worry about your taxes can result in missed opportunities that could have reduced…

Tax Changes Coming After 2025

,
Article Highlights: Standard Deductions Personal & Dependent Exemptions Child Tax Credit Home Mortgage Interest Limitations Tier 2 Miscellaneous Deductions Phaseout of Itemize Deductions SALT Limits Moving Deduction …