Educators: As you file your 2022 taxes, be aware there’s a tax deduction just for you. Even if you take the standard deduction, an eligible educator can deduct up to $300 in unreimbursed, out-of-pocket...

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Cg Tax, Audit & Advisory (“Cg”) is pleased to announce that Anthony J. Turano, CPA has been promoted to Shareholder. In his almost four years with the firm, Anthony has contributed significantly to Cg’s...

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There will be no change in certain interest rates for the quarter beginning April 1, 2023. The IRS announced that, for 2nd quarter of 2023, the interest rate for overpayments will remain unchanged, computed...

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A review of certain provisions in existing tax laws may provide an indication of the many areas of prospective action in the next two years. Retirement catch-ups at risk The SECURE 2.0 Act, enacted at the...

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Like most income, tips in the service industry are taxable. This includes tips paid directly to you by customers, tips paid by credit, debit, or gift cards and tips split with other employees. Noncash...

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It’s common for individuals to realize during tax season that they didn’t have enough income tax withheld from their paychecks the previous year. This can result in tax due. To avoid this outcome, the...

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Are you properly accounting for your “digital asset-related” income? The IRS is reminding taxpayers that they must answer a digital asset question and report all digital asset-related income when they file their 2022 income...

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Are you expecting a tax refund? With tax season officially underway as of Jan. 23, 2023, the IRS is encouraging taxpayers to streamline tax filing this year by having refunds directly deposited into their...

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The due date for paying and reporting backup withholding is almost here, reminds the IRS. Businesses and other payers that were required to withhold tax from certain payments in 2022 to meet backup withholding...

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