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Unlock the Benefits of an IRS Online Account

In today’s digital age, convenience and efficiency have become paramount in many aspects of our lives. This is particularly true when it comes to managing our finances and tax-related matters. If you have ever tried resolving tax issues by calling or writing the IRS, you will likely have experienced…

April 29, 2025

Tax Implications for Remote Workers

With the rise of remote workers, understanding tax obligations has become increasingly important for both employees and employers. As individuals choose to live in locations different from where the companies they work for are based, they may encounter complex questions about where taxes should be paid. Navigating these complexities requires…

April 1, 2025

Getting the Most from Your Tax Return (or the Least)

While many of our clients worry they may owe more than they expected, there are some that even dread their refund. Getting a large refund often indicates that you withheld too much of your pay during the year and essentially gave the IRS an interest free loan. Federal Withholding Speak…

March 25, 2025

Retirement Planning: Catch-Up Contribution Changes for 2026

Planning and saving for retirement typically span decades of a person’s working years. Historically, planning boils down to maximizing contributions to an employer sponsored plan such as a 401(k), 403(b), or 457(b), in addition to an IRA. Traditional vs Roth Is it more beneficial to designate your contributions as traditional…

March 18, 2025

Compensated Absences for Government Entities – GASB 101

The Governmental Accounting Standards Board Statement 101 (GASB 101) addresses the accounting and financial reporting requirements for compensated absences. Compensated absences refer to leave benefits that employees earn, such as vacation, paid time off (PTO), and sick leave, which can be used in future periods or cashed out upon…

March 13, 2025

Form 1099 Income Reporting

What You Need to Know When it comes to tax preparation, many people and businesses rely on the various forms they receive to accurately report their income. Among these forms, the Form 1099 series is particularly significant, as it covers a wide range of income types, from freelance work to…

March 11, 2025

Internal Controls for Nonprofits

In the nonprofit sector, maintaining accountability and transparency is vital. Internal controls and separation of duties play pivotal roles in achieving this goal by safeguarding assets, ensuring accuracy in financial reporting, and complying with rules and regulations. Internal Controls These are typically written policies establishing procedures for people…

March 6, 2025

Accelerated Depreciation Options

Bonus Depreciation & Section 179 Accelerated depreciation methods, such as bonus depreciation and the Section 179 deduction, provide business owners the opportunity to write off the cost of certain assets placed in service during the year quicker than traditional depreciation schedules allow. These methods offer significant tax benefits while enhancing…

March 4, 2025