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Five Tax Strategies Retirees Should Consider Before Dec. 31

CPA Practice

Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) For me, the dread of tax season truly arrives when I start receiving 1099s, W-2s, 1098s, etc., It’s time to gather everything, fill out a painful spreadsheet and write a check to my CPA. A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results.

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AICPA News – Oct. 2023

CPA Practice

AICPA Releases Statement on IRS Announcement Concerning ERC Mills The American Institute of CPAs (AICPA) released a statement following an announcement by the Internal Revenue Service (IRS) detailing additional steps being taken to address aggressive and unscrupulous Employee Retention Credit (ERC) mills.

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AICPA News – Oct. 2023

CPA Practice

AICPA Releases Statement on IRS Announcement Concerning ERC Mills The American Institute of CPAs (AICPA) released a statement following an announcement by the Internal Revenue Service (IRS) detailing additional steps being taken to address aggressive and unscrupulous Employee Retention Credit (ERC) mills.

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From RMDs to Student Debt, SECURE 2.0 Offers a Lot

CPA Practice

You can either schedule it for December 31, 2024, or delay taking the distribution until no later than April 1, 2025. The Act reduces this three-year requirement to two years, effective for plan years beginning in 2025. Illinois CPA Society member Daniel F. Rahill, CPA/PFS, JD, LL.M.,

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AICPA News – March 2023

CPA Practice

AICPA News is a roundup of recent announcements from the American Institute of CPAs. The 61 recommendations in the compendium include proposals related to employee benefits, individual income tax, international tax and tax administration, among others.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

Understanding your entity type and requirements is the first step toward filing your taxes accurately and efficiently. Tax laws are constantly changing, and it can be challenging to keep up with the latest revisions. A professional tax advisor or CPA can accurately file your business taxes on time.

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Top Five Tax Benefits Your Preparer Might Be Forgetting

Nancy McClelland, LLC

(c) Nataliya Vaitkevich via Pexels I used to find it annoying when a client would forward me an article about a tax deduction or credit, to make sure I would take it on their tax return. It’s available through 2025 and the IRS has an FAQ on it that’s chock-full of details.

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