News & Updates

Tax Items To Check as the Year Winds Up

10/20/2021

It's been a very busy year at the IRS, with many special tax changes. Below is a review of some of the top issues you will want to discuss with your tax preparer as the year draws to a close and again when you meet to prepare your returns.

What Is the Innocent Spouse Rule?

10/20/2021

Sometimes, marriage can stymie the financial life of even the savviest person. You go along living your life, working, eating, sleeping — and suddenly you discover that your household paid far too little in taxes. What's worse, you signed the joint return. Now what?

Leaving a Legacy for Your Family in the Future is All a Matter of Arithmetic

10/20/2021

Imagine this. If you put $100K away for 150 years, at 8% your grandchildren or your great grandchildren would be worth a BILLION dollars.

SSA Updates Key Numbers for 2022

10/20/2021

The Social Security Administration reviews key numbers each year and usually makes adjustments. In a recent release, the SSA announced what is and is not changing for 2022.

IRS Reminds Taxpayers of Limited-Time Donation Rules

10/20/2021

The rules governing the deduction of charitable contributions can be pretty strict. However, legislation has relaxed a number of them as long as donors take advantage of them by the end of 2021. So, both individual and businesses taxpayers should get up to speed on the temporary rules and take out their checkbooks before year-end.

What You Don't Know About Estate Planning

10/6/2021

Estate planning is about defining and living out your legacy during your lifetime. It enables you to enjoy the impact your plan has on the people and organizations you support. But there are a lot of myths that still need debunking:

State and Local Tax Considerations for Remote Employees

10/6/2021

When the COVID-19 pandemic started, no one could have envisioned how long remote work would last or how many people would want to continue working remotely on a permanent basis. Along with the many problems this created in the workplace is one that affects how remote workers pay state and local taxes. In general, there is a difference between employees who work remotely because of their employers' necessity and those who do so for their own convenience. With hybrid work arrangements becoming a feature of the new workplace, employers should be very deliberate when they communicate and execute policies relating to an employee's work location.

Historic Homes and the IRS

10/6/2021

If you're rehabilitating a historic home, know that there are tax credits you may be able to claim. The federal Historic Tax Credit program also encourages preservation and rehabilitation of significant buildings in a program that's administered by the National Park Service and the IRS.

Should You Introduce Profit-Sharing — and How?

10/6/2021

Your business is doing well, and you want a way to share some of your firm’s profits with the people who helped create its success. The solution might seem obvious: create a profit-sharing plan based on the performance of the company.

The Wildfire Problem: Imagine This as a Viable Solution

10/6/2021

Governor Newsom has a plan to spend $500,000,000 ($500 million) on fire prevention. My perspective on this is Wildfires are not just a California problem. I read recently where the following states all had a wildfire problem:

These states and many more all suffered through extensive wildfires. Our climate is changing. I do not know to what degree we caused it, if at all. Whether one wants to recognize the problem or not, it is not just a California problem.

<<Previous

Tax Items To Check as the Year Winds Up

What Is the Innocent Spouse Rule?

Leaving a Legacy for Your Family in the Future is All a Matter of Arithmetic

SSA Updates Key Numbers for 2022

IRS Reminds Taxpayers of Limited-Time Donation Rules

What You Don't Know About Estate Planning

State and Local Tax Considerations for Remote Employees

Historic Homes and the IRS

Should You Introduce Profit-Sharing — and How?

The Wildfire Problem: Imagine This as a Viable Solution

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