Resources

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 early 2024, it’s important to pay attention to your tax…

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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 need to know.  Automatic Enrollment Requirements   Plan sponsors of 401(k)…

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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 rates tend to increase yearly to account for rising fuel…

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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 generations will transfer $72.6 trillion in assets to heirs and…

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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 beginning in tax year 2023. These limits are important, as…

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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 puts relief efforts in motion, both short and long-term.   While…

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Do You Know How to Navigate the New IRS Requirements for R&D Tax Credit Claims?

October 14, 2022

While the new research and development tax credit requirements went into effect on January 10, 2022, which require more detailed proof that claims are valid, many businesses seeking the refund may face extra work when…

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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 Third-Party Network Transactions. This means businesses and individuals may receive…

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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 is a pared-down version of the proposed Build Back Better…

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I Bonds Can Help You Tackle Inflation, But You Must Know the Rules

August 15, 2022

With inflation rates reaching historical highs and driving up the cost of doing business, business owners are seeking out creative ways to fight inflation. The Series I Savings Bond is one tool that’s been getting…

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How can we help you?

We offer tax return preparation, financial statements, bookkeeping, consulting and a variety of other services for companies and individuals throughout the San Joaquin Valley and beyond.