Tax

5 Common Mistakes Your Tax Return May Reveal

March 24, 2023

What does your tax return say about your financial situation? The paperwork you file each year offers excellent information about how you are managing your…

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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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Transferring wealth between generations. A son/father or grandson/grandfather stare at eachother in their family place of business.

Take Control of Your Legacy: Planning for Generational Wealth Transfer

November 29, 2022

The Silent Generation and Baby Boomers are incredibly fortunate generations—and so might be their heirs. Cerulli’s U.S. High-Net-Worth and Ultra-High-Net-Worth Markets 2021 report predicts these…

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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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Understanding the IRS Disaster Relief Programs for Taxpayers

November 2, 2022

Throughout the year, the Federal Emergency Management Agency (FEMA) will designate incidents that adversely affect residents in the affected areas as disasters. This FEMA designation…

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The New 1099Ks Are Coming: Are You Ready?

September 5, 2022

A key provision of the American Rescue Plan Act passed in 2021 includes lowering the thresholds that trigger a Form 1099-K – Payment Card and…

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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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