There still may be time to make an IRA contribution for last year
If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you’re eligible, you can make a deductible contribution to a traditional IRA right up until this year’s April 18 filing deadline and benefit from the tax […]
Estate and Trust Tax Returns Services: CPA Firm
Navigating the intricacies of taxes, trusts and estates entangles even the most financially savvy of us. It can be hard to know where to start, so having a CPA on your side is helpful. Our firm provides full-service estate and trust tax return services – from preparation through IRS filing – so you don’t have […]
Top 5 Reasons to Join a Small Accounting Firm
Introduction When considering a career in accounting, many recent graduates and professionals may immediately think of big, well-established accounting firms. While these large firms can certainly offer a wide range of opportunities and resources, there are also many benefits to joining a smaller accounting firm. In this article, we’ll explore the top five reasons why […]
Business Accounting is Important for Businesses: Things to Know Before You Start
Do you want to succeed in business? Are you looking for an easy way to track your finances and ensure that everything is accounted for? Business accounting is essential for any business. It’s the way to determine where your money is going, how much comes in, and how much could be saved or invested.The good […]
Key tax issues in M&A transactions
Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy. The total value of M&A transactions in North America in 2022 was down 41.4% from 2021, according to S&P Global Market Intelligence. But some analysts expect 2023 to see increased M&A activity in certain industries. If you’re considering […]
Child tax credit: The rules keep changing but it’s still valuable
If you’re a parent, you may be confused about the rules for claiming the Child Tax Credit (CTC). The rules and credit amounts have changed significantly over the last six years. This tax break became more generous in 2018 than it was under prior law — and it became even better in 2021 for eligible […]
5 Benefits of Business Tax Return Services for Your Business
Tax season can be stressful for small business owners, but it doesn’t have to be! Taking advantage of tax return services with an experienced professional can make the process easier, faster, and more efficient. Make sure you’re in complete control come tax season without having to carry the burden alone.Here are five benefits of using […]
Tax-saving ways to help pay for college — once your child starts attending
If you have a child or grandchild in college — congratulations! To help pay for the expenses, many parents and grandparents saved for years in tax-favored accounts, such as 529 plans. But there are also a number of tax breaks that you may be able to claim once your child begins attending college or post-secondary […]
Many tax limits affecting businesses have increased for 2023
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be important to you and your business. Social Security tax The amount of employees’ earnings that are subject to Social Security tax is capped for 2023 […]
Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty
Most retirement plan distributions are subject to income tax and may be subject to an additional penalty if you take an early withdrawal. What’s considered early? In general, it’s when participants take money out of a traditional IRA or other qualified retirement plan before age 59½. Such distributions are generally taxable and may be subject […]
