News

Demystifying Inherited IRAs and Navigating the RMD Maze

August 31, 2023

Inheritance brings its own set of challenges. Within the vast world of financial legacies, inherited Individual Retirement Accounts (IRAs) stand out thanks to their annual…

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Navigating the Tax Implications of Remote Work: An Essential Guide for Business Owners

July 28, 2023

As we increasingly embrace the post-pandemic era, the world of work has undergone a significant shift. Many companies have opted for remote work models, dispersing…

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Navigating Changes in Bonus Depreciation: Maximizing Tax Savings for Small Business Owners

June 19, 2023

As a small business owner, staying informed about the ever-evolving tax landscape is crucial to optimize your financial strategies. In particular, understanding the changes in…

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Common Control Entities and Lease Accounting Methods

April 23, 2023

The new lease accounting methods have been an important topic for businesses over the last few years. Determining if an enforceable lease exists is an…

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Tax Treatment of the California Middle Class Tax Refund

February 23, 2023

The IRS has issued guidance on the tax treatment of the California Middle Class Tax Refund (MCTR), as well as payments made to qualified residents…

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Will your tax bracket change in 2023?

January 31, 2023

The IRS has released the updated tax brackets, deductions, and credits for the 2023 tax year. While tax filing for this year won’t happen until…

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Secure Act 2.0 Updates Retirement Plans Starting in 2023

January 12, 2023

The new Secure Act 2.0 legislation expands upon the Secure Act of 2019 with updates to retirement savings plans across the country. Here’s what you…

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2023 Mileage Rates for Business Reimbursements 

January 12, 2023

The IRS recently released the 2023 mileage rates for businesses to use as guidance when reimbursing workers for applicable miles driven within the year. The…

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IRS Announces Retirement Plan Contribution Limits for 2023

November 3, 2022

On October 21, 2022, the Internal Revenue Service (IRS) announced the updated contribution limits to retirement plans in Notice 2022-55. The new limits are valid…

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Business Tax Implications of the Inflation Reduction Act (IRA)

August 18, 2022

The House of Representatives passed The Inflation Reduction Act (IRA) Friday, August 12, and President Joe Biden signed into law August 16. The legislation, which…

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