You have a broad range of opportunities to save money during your working years so that you may afford a comfortable retirement in the future. Yet, with each type of retirement savings plan comes a unique set of rules and requirements, including procedures for paying taxes on your plan contributions and earnings. In the most […]
Posted on March 16, 2023
by
Kevin McNally
In this episode, Associate Director of Tax Services Kevin McNally explains how the Inflation Reduction Act will impact individual taxpayers.
Posted on March 09, 2023
by
Karen Lake
The IRS extended until Oct. 16, 2023, various federal tax filing and payment deadlines for individuals and businesses impacted by severe storms in California and parts of Alabama and Georgia. Among the 2022 calendar-year tax-filing deadlines included in this relief are individual tax returns, typically due on Apr. 15; business tax returns, normally due on […]
Posted on February 28, 2023
by
Art Lieberman
Opportunity funds are going into their sixth year since their 2018 launch. They got off to a slow start as the IRS struggled to issue guidance on the many statutory rules applicable to these funds while the states struggled to designate the areas eligible for qualified opportunity fund investments. Covid also became a challenge, causing the IRS […]
Posted on February 21, 2023
by
Karen Lake
Mentioning the federal research and development (R&D) tax credit often conjures up images of scientists in white coats conducting lab experiments. Truth be told, the credit, which can reduce taxpayers’ federal tax liabilities, applies to a wide variety of activities conducted by companies outside of labs in an even broader range of industries, including construction […]
Posted on February 16, 2023
by
Richard Cabrera
In this episode, Director of Tax Services Richard Cabrera explains the options for business structures and how entrepreneurs should choose.
Posted on February 14, 2023
by
Kevin McNally
The passage of the Inflation Reduction Act in 2022 ushered in new and expanded tax-saving opportunities for individuals and businesses that produce, adopt and/or invest in energy-efficient technologies, including wind, solar and geothermal power. This includes an extension of tax savings to commercial real estate property owners and, for the first time, real estate investment […]
Posted on February 07, 2023
by
Jonathan Kraes
Congress closed out 2022 with the passage of a $1.7 trillion spending bill that, among other things, ushers in new rules and regulations intended to help more Americans save for retirement. Following is a brief overview of some of the more significant changes individual taxpayers should prepare for beginning in 2023. Raises the Age for […]
Posted on January 21, 2023
by
Joanie Stein
Growing one’s family through adoption provides prospective parents with an opportunity to experience the joys of raising children and providing them with loving and permanent homes. While the process can be costly, the federal government offers a tax credit to help families offset some of those expenses and reduce their federal tax liabilities. Families may […]
Posted on January 19, 2023
by
Lewis Taub
The IRS has new tools at its disposal to crack down on taxpayers who fail to report gains and losses from cryptocurrency transactions in 2023. In this environment, it is critical taxpayers understand their obligations to pay taxes on crypto transactions and look for potential opportunities to minimize those liabilities. Cryptocurrency Tax Compliance In 2014, […]
