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You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory awards and judgments for “personal physical injuries or physical sickness” are free from federal income tax...
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...
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...
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...
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...
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...
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...
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...
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...
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...
