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 not as much as...

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National Cybersecurity Awareness Month (October) recently wrapped up, and the IRS and its Security Summit partners are sharing some best practices. You should be careful about revealing too much personal information on social media...

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A number of factors are making 2023 a confounding tax planning year for many people. They include turbulent markets, stabilizing but still high interest rates, and significant changes to the rules regarding retirement planning....

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Before you know it, it will be time to contact us to set an appointment for your 2023 tax return preparation. One of the choices we’ll need to make is the filing status you’ll...

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Tax law generally allows deductions for ordinary and necessary business expenses incurred in carrying on a trade or business. However, an activity must be conducted with continuity and regularity and with the primary purpose...

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The IRS announced it has extended the acceptance of digital signatures indefinitely “until more robust technical solutions are deployed.” In addition, the use of encrypted email when working directly with IRS personnel has been...

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Heads up: Under Sec. 179, your business may be able to currently deduct eligible property you’ve placed into service in 2023. This generally includes new and used machinery, equipment, off-the-shelf software, roofs, improvements to...

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For many car buyers, new electric vehicles (EVs) are priced out of reach, even when tax credits are applied. But it still may be possible to buy an affordable EV and qualify for a...

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Businesses planning to pay employees year-end bonuses can time their payments to reduce tax. For example, if your business operates on the cash basis, you must deduct bonuses in the year they’re paid. So...

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Major life changes can greatly affect your tax situation. This is especially true if you get married or divorced. If you experienced one of these events, be sure to address it with your tax...

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