Not your average tax and accounting firm.
Are backdoor Roth IRA Conversions a thing of the past? Possibly. New legislation has been proposed that could limit the ability of high-income earners to take advantage of Roth IRA conversions. Watch this video for a detailed explanation of the proposed legislation and how it might affect you. Have a question about this topic? Please …
Video Tip: The End to Backdoor Roth IRA Conversions?Read More
Adapting to remote workers has been the greatest challenge for businesses, especially managers, in 2021. According to one recent study, nearly half of all employees switched to working remotely in 2020 during the onset of the COVID-19 pandemic. Almost overnight, local and state lockdowns went into effect on all services deemed non-essential. This means that …
Businesses Facing Challenges as They Adapt to Remote WorkersRead More
Ready to talk about fall tax planning strategies to set you up for the new year? Taxes are like vehicles – they need a periodic check-ups to make sure they are performing as expected. And if ignored, little issues can turn into BIG ones, costing you money. It’s smart to be proactive and stay on …
Fall Tax Planning For 2021: 22 Winning Tax OpportunitiesRead More
There is no doubt that the IRS delays due to COVID-19 is causing considerable taxpayer stress. Before the COVID-19 pandemic, the IRS was issuing refunds and working through returns relatively quickly. They consistently responded to calls and correspondence in a reasonable amount of time. However, COVID-19 brought about a perfect storm of delays, initially caused …
Knowing exactly what the best response to an IRS letter could be is always a tricky question. You just never know if that IRS letter is bringing good news or bad news. It usually just provides more information about your account. However, an IRS letter often also requires you to take an action – which …
If you are looking for tax breaks for grandparents, you are not alone! More and more individuals who thought their child-rearing days were over are now raising their grandchildren. It is estimated that 6.5 million children in the United States currently live with at least one grandparent. This accounts for approximately 9% of all children …
Considering gifting your IRA to charity and finding it difficult to learn more about it? That’s because their are some complications to the IRA to Charity distribution provision that are just now coming to light. Let us explain more… Required Minimum Distribution (RMD) Provisions Changed Due to COVID Individuals are required to begin taking distributions …
Complications to the IRA To Charity Distribution ProvisionRead More
Beware of Scammers – it’s a message we repeat every year. (But we talk about it because it’s needed!) Every year our clients and taxpayers across the US lose money from these thieves. The newest ploy is from phone scammers (and email scammers) who claim they are from fake charity organizations. They then ask for …
Need a current 2021 tax planning checklist to ensure you’re prepared for the next tax year? We have you covered! All too often, taxpayers wait until after the close of the tax year to starting thinking about their taxes. Thus miss opportunities that could significantly reduce their tax liability or (better!) financially benefit them. Mid-year …
