Resources

3 Strategies for 2023 to Reduce Your Tax Burden

May 22, 2023

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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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 integral part of Topic 842 that affects how and what…

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The Top 12 Tax Scams to Avoid According to the IRS

April 23, 2023

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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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 money—and the areas where it might be wise to make…

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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 in 20 additional states. IRS 2023-23 states that taxpayers will…

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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 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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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.