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Insight
What Higher Education Officials Should Know: Key Tax Risks For Universities
In recent years, university tax compliance has become an increasingly challenging thing to navigate, particularly for those higher education officials who don’t have a background in accounting or the federal tax code.
Gordon McNamee, CPA
Insight
5 Indispensable Tax Tips For Self-Published Authors
If you’re a bookworm who has finally made the jump from reader to author, congratulations are in order! This is no small feat, and you deserve to be proud of your accomplishment.
Frank Jenkins Jr
Insight
The Most Overlooked Tax Deductions You Should Be Taking Every Year
Tax deductions can be complicated. Working with a good local CPA is the best way to feel confident that you’re keeping the most you can of your hard-earned money, but it’s still smart to be financially literate, too.
Spencer Wilson, EA
Insight
IRS to Boost Contribution Limit on Health Savings Accounts in 2023
Health Savings Accounts, or HSAs, are popular tax-advantaged accounts that employees enrolled in high-deductible health plans through their employers can use to pay for qualified medical expenses. Now the accounts offer an even greater advantage, as the IRS has announced that as of 2023 those enrolled in both individual and family plan HSAs can increase the amount that they deposit each year.
Spencer Wilson, EA
Insight
Taking the Credit You Deserve - What You Need to Know About the Earned Income Tax Credit
The Internal Revenue Service is working hard to raise awareness of recent changes that have made many more low-to-moderate income Americans eligible for the Earned Income Tax Credit (EITC). This refundable tax credit created as part of a robust anti-poverty program can mean as much as $1,502 for filers with no qualifying children and as much as $6,728 for married couples filing jointly with three or more children. The upper-income level for such a family is $57,414.
Spencer Wilson, EA
Insight
Documentation Requirements for R & D Tax Refunds, Explained
If your business spends money on research and development, a recent legal memo published by the Internal Revenue Service will be of particular interest to you. Though these expenditures may entitle you to file for a refund for a tax credit for increasing research activities, the agency is now requiring additional supporting documentation. At this point, however, the expanded information is only required for claims submitted on amended returns.
Frank Jenkins Jr
Insight
Tax Avoidance vs. Tax Evasion - What's the Difference?
While tax avoidance is legal, tax evasion is definitely not. Learn the difference...
Gordon McNamee, CPA
Insight
Some Business Owners Now Eligible for Workaround for State and Local Tax Deduction Cap
The 2017 tax reform placed a limit on State and Local Tax (SALT) deductions, but some states are offering a workaround. Learn more...
Martinez & Shanken, PLLC
Insight
Some Tax Breaks Could Actually Cost You Money. Here's How to Know the Difference.
Not all tax breaks are right for every taxpayer - it depends on your tax bracket and other factors.
Gordon McNamee, CPA
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