by Jackie | Jan 17, 2023 | Uncategorized
Beginning with tax years ending on or after December 31, 2022, a S corporation or partnership (pass-through entity) can annually elect to become an affected business entity required to pay the pass-through entity tax. Qualifying members of an electing pass-through...
by Jackie | Jan 16, 2023 | Uncategorized
You meant to clean up your accounting data by the end of 2022, but December is so busy. It was hard to do much beyond managing each day’s high-priority QuickBooks work. You’d catch up in January, you told yourself in December. Now that it’s January, it’s time for a...
by Jackie | Jan 13, 2023 | Uncategorized
Article Highlights Family Member Transactions Renting to a Relative Below-Market Loans Transferring Home Titles Gifts Basis Life Estate Incorrect Withholding Child Files Incorrect Return When it comes to transactions between family members, the tax laws are frequently...
by Jackie | Jan 12, 2023 | Uncategorized
Article Highlights: De Minimis Fringe Benefits Cash Gifts Gift Certificates Group Meals FICA and Wage Withholding It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market value so...
by Jackie | Jan 11, 2023 | Uncategorized
LOOKING AHEAD TO 2023 TAXES Article Highlights: Solar Credit Home Backup Electric Storage Battery Credit Home Energy Improvement Credit Research Credit Clean Energy Vehicles (New and Used) Credits Standard Deduction Increase Increased Retirement Plan Contributions...
