NEWS
Mitigate the risks: Tips for dealing with tariff-driven turbulence
President Trump’s “Liberation Day” announcement of global tariffs caught businesses, as well as foreign countries and worldwide financial markets, off guard. While the president has long endorsed the imposition of tariffs, many businesses expected him to take a...
An essential tax deadline is coming up — and it’s unrelated to your 2024 return filing
Tuesday, April 15 is the deadline for filing your 2024 tax return. But another tax deadline is coming up the same day, and it’s essential for certain taxpayers. It’s the deadline for making the first quarterly estimated tax payment for 2025 if you’re required to make...
FinCEN issues interim final rule on Beneficial Ownership Information (BOI) reporting
Entities created in the United States not required to file As promised, on March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that officially removes the requirement for U.S. companies to file beneficial ownership...
Do you have questions about taking IRA withdrawals? We’ve got answers
Once you reach age 73, tax law requires you to begin taking withdrawals — called Required Minimum Distributions (RMDs) — from your traditional IRA, SIMPLE IRA and SEP IRA. Since funds can’t stay in these accounts indefinitely, it’s important to understand the rules...
Exploring business entities: Is an S corporation the right choice?
Are you starting a business with partners and deciding on the right entity? An S corporation might be the best choice for your new venture. One benefit of an S corporation One major advantage of an S corporation over a partnership is that shareholders aren’t...
Turning stock downturns into tax advantages
Have you ever invested in a company only to see its stock value plummet? (This may become relevant in light of recent market volatility.) While such an investment might be something you’d rather forget, there’s a silver lining: you can claim a capital loss deduction...
Disaster victims may qualify for tax relief…including on amended returns
Victims of presidentially declared disasters in recent years who couldn’t previously claim a casualty loss deduction may now be able to claim a refund. Additional tax relief also might be available. Read on to learn more about the potential opportunities for victims...
The 2024 gift tax return deadline is coming up soon
If you made significant gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2024 gift tax return. And in some cases, even if it’s not required to file one, you may want to do so anyway....
FinCEN will extend Beneficial Ownership Information (BOI) reporting deadline beyond March 21, 2025
Deadline and enforcement suspended pending development of new regulations. There is yet another update regarding the continuing saga that is Beneficial Ownership Information (BOI) reporting. At the end of last week FinCEN announced they will extend the current March...
Maximize your 401(k) in 2025: Smart strategies for a secure retirement
Saving for retirement is a crucial financial goal and a 401(k) plan is one of the most effective tools for achieving it. If your employer offers a 401(k) or Roth 401(k), contributing as much as possible to the plan in 2025 is a smart way to build a considerable nest...