While many of us were busy firing up the grill, gathering with family and friends, and looking forward to fireworks in celebration of Independence Day, something significant was happening in Washington. On Friday, July 4th, as the holiday festivities were underway, the President signed into law the long-anticipated tax legislation known as the One Big […]
In late December 2024, two new laws were signed by President Biden which reduced the reporting burden under the Affordable Care Act (ACA) for employers and group health plans titled the Paperwork Burden Reduction Act (PBRA) and the Employer Reporting Improvement Act (ERIA). Under the ACA, applicable large employers (ALEs), which are those with 50 […]
IRMAA, which stands for Income-Related Monthly Adjustment Amount, is a term that may not be familiar to everyone. However, for individuals enrolled in Medicare, IRMAA can have a significant impact on their healthcare costs. Here are the basics of IRMAA, why it matters, and how it can affect your Medicare expenses. What is IRMAA? IRMAA […]
As tax season gets underway, we want to remind taxpayers of ways to avoid penalties and interest associated with their income tax filings for 2024. Taxpayer penalties are imposed by the IRS and state taxing authorities to encourage compliance with tax laws and regulations. Penalties can range from relatively minor fines to severe consequences. There […]
Tronconi Segarra & Associates Tax Partner Lisa Mrkall, CPA/PFS and Tax Supervising Senior Kevin Carrigan count down the 10 most important tax and financial planning tips businesses and individuals should know before ringing in 2025. Watch this timely webinar below, and click here to download the slides for future reference here.
*Part of our Quarterly Newsletter Feature – “Personal Financial Planning with Lisa Mrkall” During the summer, the IRS released final regulations updating the required minimum distribution (RMD) rules for retirement plans. The Secure Act and Secure Act 2.0 made significant changes to the RMD rules applicable to retirement plan participants during their lifetimes and to […]
Tronconi Segarra & Associates’ Affordable Care Act Compliance Team is once again ready and able to assist with the reporting associated with the Employer Mandate of the ACA. If you employed 50 or more full-time employees in the prior year (including full-time equivalents) your organization is subject to the ACA reporting requirements and required to […]
Our final and most important newsletter of 2024 because it includes key updated payroll and IRS Form 1099 information for small businesses. Plus, many interesting articles in our newsletter, including the launch of our new “Personal Financial Planning” article series by our Partner, Lisa Mrkall, CPA/PFS, MBA. Click here to view/download this newsletter.
When most people hear the words “estate planning,” they typically tune out the information that follows, assuming this process applies only to the ultra-wealthy. Contrary to common thinking, the benefits of estate planning are not at all exclusive to this group. Most, if not all individuals and married couples should consider estate planning in a […]
By Lisa A. Mrkall, CPA, MBA, Partner We have the distinct privilege of touching clients’ lives each year when we provide tax preparation services for them. Our client’s tax returns serve as a roadmap to begin to understand their personal financial situations. We often see situations during the preparation of the tax return that lend […]
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