by Eric Landro | Feb 21, 2023 | Uncategorized
If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there still may be time to make an IRA contribution for last year. If you’re eligible, you can make a deductible contribution to a traditional IRA right up until this...
by Eric Landro | Feb 17, 2023 | Uncategorized
Late in 2022, the IRS released final regulations addressing extended deadlines for certain information-reporting requirements of the Affordable Care Act (ACA). The final regs generally apply to calendar years beginning after December 31, 2021. If your organization is...
by Eric Landro | Feb 15, 2023 | Uncategorized
The 2022 mid-term election has shifted the scales in Washington, D.C., with the Democrats no longer controlling both houses of Congress. What’s the fate of potential tax legislation in the new Congress? While it remains to be seen if — and when — any tax-related...
by Eric Landro | Feb 8, 2023 | Uncategorized
Robert L. Tobey, CPA, Partner Starting in 2022 taxpayers will no longer be allowed to deduct IRC §174 research and development (R&D) expenses in the year incurred. Taxpayers are now required to capitalize these costs as an intangible asset and amortize...
by Eric Landro | Feb 6, 2023 | Uncategorized
Many businesses in certain industries employ individuals who receive tips as part of their compensation. These businesses include restaurants, hotels and salons. Here are some business tax tips for employees who receive tips. Tip definition Tips are optional payments...
by Eric Landro | Feb 3, 2023 | Uncategorized
Robert L. Tobey, CPA, Partner SUMMARY On January 13, 2023, the IRS Chief Counsel Memorandum (CCM) 202302011 was issued, stating that: in the case of a taxpayer that owns cryptocurrency that substantially declined in value, and the taxpayer has not sold or...
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