On December 29th, 2022, President Biden signed the SECURE Act 2.0 into law, as part of the Consolidated Appropriations Act. This broad-reaching legislation is expected to impact tax incentives as it relates to retirement plans ...
Category Archive: Tax
We often receive questions from clients about their 401(k) plans and recently had a client ask two thought provoking questions: “What steps should I take to monitor service providers I hire to help me administer ...
There will be a few tax changes for businesses of note for the tax year 2023 and beyond, including a huge 2017 TCJA tax benefit that will begin to phase out at the end of ...
Giving to charity can provide not only large tax deductions to help you do well financially (as long as you itemize deductions) but also the satisfaction of doing good. On top of that, it’s one ...
The Inflation Reduction Act of 2022, was signed into law by President Biden on Tuesday, August 16, 2022. The Inflation Reduction Act of 2022 (The Act) will raise revenue, reduce the deficit, make major investments ...
That is both a literal and figurative statement. The photo above, provided by the U.S. Department of the Treasury, shows the cafeteria at the IRS’ Austin facility in June. This is visual confirmation of what ...
If you’re involved with virtual currency – whether as an investor, a miner or as a merchant accepting cryptocurrency as payment – you are likely to face tax issues. On the federal income tax front, ...
2021 has flown by and before you know it 2022 will be here! Before the year comes to a close, there are a few simple tax planning items to consider to potentially help reduce your ...
U.S. lawmakers have taken another step toward closing a perceived loophole that allows certain income earned by investment fund managers to be taxed at favorable rates. Managers of investment funds, e.g., private equity, venture capital, ...
Blog Part 2 of 2 – Read Part 1 by clicking here How does the IRS treat cryptocurrency? Cryptocurrency is considered property, but when traded it is treated similar to stock. Anytime cryptocurrency is converted ...
Blog Part 1 of 2 This seems to be the subject of the hour. In every news outlet and financial news platform there is a mention of Bitcoin (BTC), Altcoin (Ethereum, Stellar, Etc.) or even ...
IRS’ Advance Payments of 2021 Refundable Child Tax Credit under The American Rescue Plan Act of 2021
The American Rescue Plan Act (ARPA) made the Child Tax Credit (CTC) fully refundable for 2021 and increased the maximum amount from $2,000 to $3,000 per qualifying child for children between ages 6 and 17 ...