Taxes March 13, 2023
2023 Changes for Required Minimum Distributions
These changes provide more flexibility and tax relief to owners of retirement accounts. If you have any questions, don’t hesitate to contact your tax and financial advisors.
Taxes March 10, 2023
Tax Court Disallows Mortgage Interest Deduction
The new case involves a complex series of transactions where three brothers intermingled their business and personal interests.
Taxes March 1, 2023
The Tax Blotter – March 2023
Generally, small business owners who use their automobile for business driving are entitled to deduct expenses based on the vehicle’s use, but there are plenty of twists and turns along the way.
Taxes February 14, 2023
Tax Court Shows Why Real Mileage Logs are Important
The annotations show the locations he supposedly visited in connection with either business. For several reasons, the Tax Court didn’t find this evidence credible.
Taxes February 13, 2023
New Law Encourages Roth 401(k) Accounts
For 2023, a participating employee can contribute up to $22,500 in elective deferrals or up to $30,000 if they are age 50 or over.
Payroll February 3, 2023
How to take advantage of ’10-Year Averaging’ in New Retirement Tax Rules
A taxpayer may qualify for “ten-year averaging” when they receive a lump-sum distribution (LSD) from a qualified plan.
Payroll January 31, 2023
New Law Boosts Catch-Up Retirement Contributions
New legislation dubbed “SECURE Act 2.0,” a follow-up to the 2019 SECURE Act, provides several enhancements, on top of inflation indexing already in place for certain plans.
Taxes January 27, 2023
Highlights of SECURE Act 2.0 for Individuals
SECURE Act 2.0 includes numerous significant provisions affecting individual retirement savers. Following is a brief roundup of several key changes.
Taxes January 25, 2023
Highlights of the SECURE Act 2.0 for Businesses
The new SECURE Act 2.0, enacted late last year as part of a spending measure, features several notable provisions affecting individuals saving for retirement.
Taxes January 19, 2023
The Tax Blotter – Jan. 20, 2023
The tax law provides generous tax breaks to investors in real estate, but there are several key tax pitfalls to watch out for.
Taxes December 30, 2022
Do You Need A Charitable Appraisal? 2023 Tax Tips
The appraisal rules don’t apply to donations of publicly traded securities. Use the quoted market price to determine the FMV of the securities. This takes a lot of the guesswork out of the deduction.
Taxes December 30, 2022
Adoption Tax Credit Provides Valuable Benefit
The adoption credit is indexed annually by the IRS. Due to the rising inflation of late, the figures have jumped dramatically.
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
