Taxes April 13, 2023
Using a Go-Between for 1031 Exchanges
The favorable tax treatment isn’t automatic. To avoid current tax, you and the qualified intermediary must sign a "Qualified Exchange Accommodation Agreement."
Taxes April 12, 2023
Tax Angles to Intra-Family Loans
if you can’t present clear and convincing evidence that the loan is tied to a business transaction, the transaction may be deemed to be a gift.
Taxes April 12, 2023
When is it Beneficial to Pass Up the Home Sale Exclusion?
Depending on the circumstances, it may be better to bypass the exclusion on a current sale and save it for the time when it will do you more tax good.
Taxes April 11, 2023
Five Benefits of Hiring Your Spouse
When you officially add your spouse to the company payroll, they are taxed on the compensation, but are also eligible for benefits just like any other employee.
Taxes March 31, 2023
New Tax Relief for Emergency Expenses
Beginning in 2024, employers may allow plan participants to use a special emergency savings account. This “sidecar account” is capped at $2,500.
Taxes March 31, 2023
New Law Revamps Retirement Saver’s Credit
Expect some guidance from the IRS before the change takes effect. In the meantime, continue to take the old rules in account for retirement planning and tax purposes.
Payroll March 27, 2023
Automatic Enrollment 401(k)s Become Automatic
If an employer includes an automatic enrollment feature in its 401(k) plan, it may encourage greater participation among the rank-and-file, especially younger workers.
Taxes March 24, 2023
A SIMPLE Way to Retirement Savings
The required minimum distribution (RMD) rules apply to SIMPLEs. Beginning in 2023, the new law increases the age threshold to 73, up from 72 under the initial SECURE Act.
Payroll March 22, 2023
401(k)s Are Now Open to More Part-Time Workers
The 401(k) plan is one of the most popular qualified retirement plans around. However, in the past eligibility was generally restricted to an employer’s full-time employees.
Taxes March 22, 2023
New Tax Law Boosts ABLE Accounts
If you meet the tax law requirements and are receiving Supplementary Security Income (SSI) and/or Medicaid benefits, you’re automatically eligible to participate.
Taxes March 20, 2023
The Tax Blotter – March 2023
Many of the changes for individuals in the Tax Cuts and Jobs Act (TCJA) are temporary and are scheduled to expire after 2025. But some are permanent provisions of the tax code.
Taxes March 14, 2023
New Incentives for Qualified Charitable Distributions
The new law enhances the benefits of making “qualified charitable distributions” (QCDs) from a taxpayer's IRAs.
Contributors
Amy Vetter
CPA, CITP, CGMA
Becky Livingston
Accounting & AI Marketing Consultant
Brian Tankersley
CPA, CITP, CGMA
Garrett Wagner
CPA, CITP, CEO and Founder of C3 Evolution Group
Jim Boomer
CPA, CITP, CEO
Ken Berry, JD
CPA Practice Advisor Tax Correspondent
Kristy Short, Ed.D.
Accounting Content Specialist
Mary Girsch-Bock
Contributing Writer
Randy Johnston
MCS, MCP
Roman Kepczyk
CPA, CITP, CGMA
