Monthly Bulletins

Due to today's relatively high standard deduction amounts, fewer taxpayers are itemizing deductions on their federal returns than they did before the Tax Cuts and Jobs Act became effective in 2018. However, if your total itemizable expenses are close to the standard deduction, it's usually advantageous to itemize, if possible. Here are some last-minute ideas that could allow you to itemize for 2023.

Have you made moves to lower your federal income tax obligation for 2023? Fortunately, there's still time — and this year, tax planning may be simpler, because Congress isn't expected to pass any additional tax-related legislation that will affect your 2023 or 2024 tax situation. Here are seven ideas for you to consider before year end.

Take these 2024 cost-of-living adjustments into consideration as you work on your year-end tax planning.

Concerned about your 2023 tax liability? Consider these year-end tax planning strategies.

Making time for year-end tax planning time now may prove beneficial come tax-filing time next year.

The IRS has created a path that businesses can use to withdraw unprocessed ERTC claims if they determine the claims are invalid.

1. Making Cash Gifts in 2023 and 2024 2. How Life Affects Taxes 3. Last Chance to Minimize Your 2023 Tax Bill 4. Appointing Someone to Handle Your Tax Matters 5. 2024 Social Security Figures

Self-employment (SE) tax can be a major expense for small business owners — and many self-employed individuals are blindsided by this tax when they file their first tax return with SE income. This article provides answers to questions you may have regarding SE tax, including how much it is, who owes it, whether it's deductible, how to pay it and more.

Catch-up contributions allow people age 50 and older to turbo-charge their retirement savings. Account holders should be aware that recent legislation has changed the federal income tax rules for making catch-up contributions to employer-sponsored retirement plans. The good news is that the changes won't go into effect until January 1, 2026. Here are the details.

1. Give Your New Business a Strong Start 2. A Business Emergency Plan is Critical 3. Handling Cash Payments over $10,000 4. Missing and Incorrect Taxpayer ID Numbers 5. Take Payroll Responsibilities Seriously!

New reporting rules go into effect on January 1, 2024, under the Corporate Transparency Act. This law, enacted in 2021, will require many small businesses to provide new details about beneficial owners who control the company. Hefty civil and criminal penalties may apply for failure to comply. Here's a brief overview of the requirements.

Today, it's estimated that roughly one in five Americans owns some type of cryptocurrency, such as Bitcoin or Ethereum. However, many digital asset owners and investors don't fully understand the federal tax implications. Here's important tax information for those who engage in cryptocurrency transactions, including the recordkeeping requirements