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 withdrawal requirements, also known as Required Minimum Distributions (RMDs). With…
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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 employees across various states and countries. However, while beneficial in…
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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 bonus depreciation can significantly impact your tax savings. This article…
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As businesses continue to grapple with the financial aftershocks of the COVID-19 pandemic, one beacon of relief remains within reach: the Employee Retention Credit (ERC). This tax credit, designed to support businesses that have kept…
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As we approach the halfway point of 2023, it’s the perfect opportunity to evaluate your business tax planning and determine ways to decrease your tax burden. Employing the right strategies can reduce your taxes, optimize…
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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 integral part of Topic 842 that affects how and what…
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Fraud. Scam. Phishing. Regardless of what you call these illicit activities, it’s important to protect yourself against the bad players that take advantage of weaknesses for their gain. Not only is it inconvenient, but there’s…
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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 money—and the areas where it might be wise to make…
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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 in 20 additional states. IRS 2023-23 states that taxpayers will…
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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 early 2024, it’s important to pay attention to your tax…
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