by Admin | Jan 13, 2023 | Individual Taxes
One of the first decisions taxpayers must make when completing a tax return is whether to take the standard deduction or itemize their deductions. There are several factors that can influence a taxpayer’s choice, including changes to their tax situation, any changes...
by Admin | Jan 12, 2023 | Business Taxes, Tax Planning
There is an important issue related to filing the 2022 S-corporation (Form 1120-S) and partnership (Form 1065) tax returns that requires the cooperation of the shareholders and partners. Background: The IRS, for the 2021 tax year, without sufficient warning,...
by Admin | Jan 11, 2023 | Retirement
The President, on December 29, 2022, signed the Consolidated Appropriations Act, 2023, which is the “omnibus spending bill” Congress needed to pass to avoid a government shutdown. That legislation also included the Setting Every Community Up for Retirement...
by Admin | Jan 10, 2023 | Business Taxes, Entrepreneurial
As the name suggests, cash flow is a term used to describe the money coming into and out of a business. Cash received – like money being paid to the business from its customers – would be inflow. Cash spent – like the funds being paid to vendor...
by Admin | Jan 9, 2023 | Individual Taxes
Many taxpayers make quarterly estimated tax payments during the year to stay current on their taxes, but many who should overlook this step. The Internal Revenue Service urged those who paid too little tax in 2022 to make a fourth quarter payment on or before Jan. 17...
