Category: Advisory
The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning?
November 20, 2023
The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating slightly this year over last, many amounts will increase over 2023 amounts but … Continued
IRS Offers a Withdrawal Option to Businesses that Claimed ERTCs
October 30, 2023
Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses’ concerns about the validity of their claims for this valuable, but complex, pandemic-related credit … Continued
IRS Warns Businesses about ERTC Scams
August 17, 2023
The airwaves and internet are inundated these days with advertisements claiming that businesses are missing out on the lucrative Employee Retention Tax Credit (ERTC). While some employers do indeed remain … Continued
Virtual Currency Lands in the IRS’s Crosshairs
June 29, 2023
While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched Operation Hidden Treasure to root out … Continued
What’s in the Fiscal Responsibility Act?
June 15, 2023
President Biden signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as … Continued
IRS guidance coming regarding the IRA’s Clean Vehicle Credit
April 25, 2023
The Inflation Reduction Act (IRA) extended and expanded the Section 30D Clean Vehicle (CV) Credit, previously known as the Electric Vehicle (EV) Credit. The credit now covers “clean vehicles,” which include … Continued
Reading the Tea Leaves: Potential Tax Legislation in the New Congress
February 16, 2023
The 2022 mid-term election has shifted the scales in Washington, D.C., with the Democrats no longer controlling both houses of Congress. While it remains to be seen if — and … Continued
Year-end Spending Package Tackles Retirement Planning, Conservation Easements
January 04, 2023
On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes two important new laws that could affect your financial planning: the Setting … Continued
2022 Year End Business Tax Update
December 16, 2022
Enjoy our latest BLS Video Update where Karly Laughlin, CPA, Mike Kelly, CPA and Valerie Middlebrooks, CPA discuss 2022 Business Tax Updates. Topics include The Inflation Reduction Act of 2022 … Continued
2022 Year End Individual Tax Update
December 15, 2022
Enjoy our latest BLS Video Update where Karly Laughlin, CPA, Mike Kelly, CPA and Valerie Middlebrooks, CPA discuss 2022 Individual Tax Updates. Topics include Inflation Adjustments (0:39-3:58) The Inflation Reduction … Continued