How Does an Estate Tax Marital Deduction Work?
Estate planning is complex enough as an individual, but when you’re planning as a married couple, it can bring about even greater challenges. Collaborating as
IRS: Tax Season 2024 could be paperless
Former IRS Commissioner Mark Everson draws a parallel between the IRS’s transition to digital processes and the construction of the interstate highway system in the
Maximizing Retirement Savings as a Small Business Owner
Introduction As a small business owner, you dedicate endless hours and hard work to make your entrepreneurial dreams a reality. However, amidst the hustle and
FinCEN is presenting regulations regarding the access to beneficial ownership information.
According to the Treasury’s FinCEN, a company’s beneficial owners refer to the individuals who have ultimate ownership or control over the company. In its Notice
Three Intelligent Approaches to Prepare for Next Year’s Taxes in Advance
KEY TAKEAWAYS Financial experts emphasize the importance of preparing for next year’s taxes early, especially if you encountered unexpected tax bills this season. Consider the
The Florida legislative body, has passed a tax relief package worth 1.4 billion dollars
Here is what you need to know about the tax relief package by Florida House. On Thursday, the Florida House passed a comprehensive $1.4 billion
Supreme Court Ruling Favors Taxpayers on FBAR Penalties
In a groundbreaking legal decision, the Supreme Court has recently sided with taxpayers in their ongoing battle against penalties for Foreign Bank and Financial Accounts
Are you confident that your Partnership or LLC is ready for a possible audit?
On September 1, 2020, the Internal Revenue Service (IRS) added a new section called the BBA Centralized Partnership Audit Regime to its website, IRS.GOV. The
President Biden’s State of the Union tax related topics
On February 7, 2023, President Biden delivered his State of the Union address. Among many topics addressed, we picked the following: No Income tax increases.
The Secure Act 2.0 and the Importance of Retirement Savings
Retirement is an important part of every individual’s financial life, and the recently passed bipartisan budget bill includes provisions that aim to increase access to
Important Tax Law Changes for small business owners in 2023
Tax Law Changes There are many important changes in the Tax laws, we picked what’s most important to our business clients. Standard Mileage Rates In
Your tax refund will likely be smaller in 2023 tax filing season
Here are some tips to consider in 2023 tax filing season: It’s time to file your tax return, and many of us are facing smaller