NEWS
The Consolidated Appropriations Act of 2023 tackles retirement planning, conservation easements
The Consolidated Appropriations Act of 2023 includes two important new laws that could affect your financial planning: the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act (also known as SECURE 2.0) and the Conservation Easement Program Integrity...
2023 Tax Calendar
To help you make sure you don’t miss any important 2023 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like...
Year-end tax planning ideas for your business
It’s been a tumultuous year for many businesses, and the current economic climate promises moreuncertainty for the short term, if not longer. Regardless of how your company has fared so far in 2022,there’s still time to make moves that may reduce your federal tax...
6 steps to take now to cut your 2022 tax liability
It has been quite a year — high inflation, rising interest rates and a bear stock market. While there’s not a lot you can do about any of these financial factors, you may have some control over how your federal tax bill for the year turns out. Here are some strategies...
Clean Vehicle Credit comes with caveats
The Inflation Reduction Act (IRA) includes a wide range of tax incentives aimed at combating the dire effects of climate change. One of the provisions receiving considerable attention from consumers is the expansion of the Qualified Plug-in Electric Drive Motor...
Businesses: Act now to make the most out of bonus depreciation
The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. The amount of first-year depreciation available as a so-called bonus will begin to drop from 100% after 2022, and...
IRS offers penalty relief for 2019, 2020 tax years
A recently announced federal relief program will provide more than $1.2 billion in tax refunds or credits. Specifically, IRS Notice 2022-36 extends penalty relief to both individuals and businesses who missed the filing deadlines for certain 2019 and/or 2020 tax and...
The Inflation Reduction Act includes wide-ranging tax provisions
On August 16, 2022 the Inflation Reduction Act (IRA) was signed into law. The IRA includes significant provisions related to climate change, health care, and, of course, taxes. Although the IRA falls far short of Biden’s originally proposed $2 trillion Build Back...
CHIPS Act poised to boost U.S. businesses
The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) was recently signed into law as part of the CHIPS and Science Act of 2022. Among other things, the $52 billion package provides generous tax incentives to increase domestic...
Dodge the tumult with a buy-sell agreement
Businesses with multiple owners generally benefit from a variety of viewpoints, diverse experience and strategic areas of specialization. However, there’s a major risk: the company can be thrown into tumult if one of the owners decides, or is compelled by...
