NEW VIRTUAL WEBINAR – Sales Tax: Myths and Legends #2
When: Tuesday, July 18, 2023, Noon to 1 p.m. DST Register today to reserve your seat! Is determining which of your purchases are taxable or exempt from sales tax time consuming and burdensome for your business? Were you advised to just pay sales tax on all your purchases or that filing a refund claim would […]
Webinar Rewind: Business Captive Insurance to Help Reduce Insurance Costs #2
If you missed our captive insurance expert, Mike Baritot, MST, Of Counsel, in his live webinar, you can watch it now at your convenience on our YouTube channel. Mike discusses the various ways a business can reduce their insurance costs and develop alternative revenue streams through captive insurance, including how the IRS’s positions on captive […]
What To Do If You Are A Victim Of Tax-Related Identity Theft #2
Tax-related identity theft is a type of identity theft that revolves around the fraudulent use of a social security number, individual taxpayer identification number or an employer identification number. There are many ways in which tax-related identity theft might transpire and it might not begin with the filing of a fraudulent tax return. A stolen […]
Social Security Benefits Part I: Changing Course on Collecting Social Security Payments
It is common for individuals to have a change of heart regarding decisions made when transitioning to retirement. It might be the fact that you are not ready for early retirement, you were overconfident that you could retire, you desire to reenter the workforce, or you prefer to delay receiving retirement until full retirement age. […]
The Basics of an Emergency Fund
With many of the COVID-19 2020 & 2021 tax relief provisions expiring, many taxpayers were surprised by a higher-than-expected 2022 income tax bill. In some cases, this also meant a balance was due with the tax return for the first time in a few years. Benefits such as the expanded child tax credit, expanded unemployment […]
Estimated Tax Payment Requirements for Individuals #2
What are Estimated Tax Payments? Estimated tax payments are often a requirement for taxpayers that generate income that does not have any corresponding tax withholdings such as: income from self-employment, interest and dividend income, capital gains, rents and royalties. However, estimates could also be required for wage earners or retirees whereby withholdings are not sufficient […]
Employee retention Tax Credit (ERTC) Scams
The IRS added widely circulating promoter claims involving Employee Retention Tax Credits (ERTC) as a new entry in the annual “Dirty Dozen” list of tax scams. These promotions can be based on inaccurate information related to eligibility for and computation of the credit. Eligible taxpayers can claim the ERTC on an original or amended employment tax return for qualified wages paid […]
Is QuickBooks Desktop Over? #2
You may have been recently notified that starting May 31, 2023, QuickBooks Desktop 2020 will be discontinued. This means that support services involving critical security updates and live technical support will no longer be available. Any Intuit integrated services will be terminated including payroll, credit card processing and other add-on features. Intuit is trending towards […]
Tax Changes Ahead for 2023
There are many noteworthy tax changes and updates that will impact both individual taxpayers and businesses alike in 2023. Bonus Depreciation First-year bonus depreciation isn’t as valuable in 2023 as it was for the past few years. For 2022, businesses were able to deduct the full cost of new and used qualifying assets with lives […]
Webinar Rewind: Cost Segregation Studies for Tax-Saving Benefits
Did you miss our live webinar on cost segregation studies? You can listen to it at your convenience on our YouTube channel here. If you are purchasing or renovating an existing building, or constructing a new building, a cost segregation study may help you maximize any available tax benefits related to those activities. Our cost […]