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Maximize Your Year-End Giving with Gifts that Offer Tax Benefits

RogerRossmeisl

As the end of the year approaches, many people start to think about their finances and tax strategies. One effective way to reduce potential estate taxes and show generosity to loved ones is by giving cash gifts before December 31. The exclusion amount is adjusted for inflation annually, and in 2024 is $18,000.

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Refunds and sales tax

TaxConnex

Its a safe bet that few of them hit the target, which leads to returns, which leads to refunds from sellers, to which leads to the nagging question: Does sales tax get refunded along with the purchase price? The more accurate answer, particularly when something as complex as sales tax gets involved, is: Probably, but watch the details.

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Can I Itemize Deductions on my Tax Return?

RogerRossmeisl

You may wonder if you can claim itemized deductions on your tax return. The post Can I Itemize Deductions on my Tax Return? Perhaps you made charitable contributions and were told in the past they couldnt be claimed because you didnt have enough deductions to itemize. How much do you need?

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S Corporations: Tax Preparation, Tax Planning, and the Benefits of Professional Tax Help

MyIRSRelief

S Corporations: Tax Preparation, Tax Planning, and the Benefits of Professional Tax Help S Corporations , often referred to as S Corps, are a popular business structure in the United States, particularly among small to medium-sized businesses. However, navigating the tax landscape for S Corps can be complex.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession.

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The Extended 2024 Gift Tax Return Deadline is Looming

RogerRossmeisl

If you made significant gifts to your children, grandchildren or other heirs last year, its important to determine whether youre required to file a 2024 gift tax return. Requirements to file The annual gift tax exclusion was $18,000 in 2024 (increased to $19,000 in 2025).

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Digital Assets and Taxes: What You Need to Know

RogerRossmeisl

As the use of digital assets like cryptocurrencies continues to grow, so does the IRS’s scrutiny of how taxpayers report these transactions on their federal income tax returns. To help you stay compliant and avoid tax-related complications, here are the basics of digital asset reporting.

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Be an Odd Duck: Work on, Not in Your Public Accounting Practice

Speaker: Tom Bowman, CPA of Bowman & Company

It is possible to run an Accounting Firm and never do tax returns or financial statements! Owners of Public Accounting firms are always telling their clients to work on their business and not in their business, yet many times do not take their own advice.