How a CPA Firm Can Help Navigate the Complexities of Inflation and Taxes Comprehensive Tax Planning for Inflation and Taxes One of the primary ways a CPA firm can help navigate the complexities of inflation and taxes is through comprehensive tax planning. Inflation can result in increased costs and higher income levels,…
The much-anticipated Corporate Transparency Act (CTA) will be in full swing beginning January 1, 2024. This act introduces new federal filing protocols for the majority of corporations and limited liability companies (LLCs) established in 2024 and beyond. The primary objective of this act is to combat money laundering, terrorist financing, and other illicit activities facilitated…
Inflation, the steady increase in prices and decrease in the purchasing power of money, has wide-ranging effects on the economy. One area that is often overlooked when discussing inflation is its impact on taxes. As a trusted CPA firm, we understand the complexities of navigating the tax landscape and how this can have significant implications…
IRS Announces New Policy of No More Surprise Visits to Taxpayers with Outstanding Debts In a landmark decision, the Internal Revenue Service (IRS) recently announced a significant change to its enforcement practices. Effective immediately, IRS agents will no longer conduct surprise visits to taxpayers who owe money, opting for a more transparent and respectful approach.…
Retirement is a major milestone in one’s life. While it brings the promise of relaxation and a well-deserved break from the daily grind, it also introduces new financial considerations – especially when it comes to tax changes after retirement. As you transition into your golden years, understanding the tax changes that come with retirement…
Managing the financial aspects of a business can be a daunting task, especially for small business owners who may not have a background in accounting. However, hiring a bookkeeping service can provide numerous benefits for your business. From ensuring accurate financial records to maximizing tax deductions, a professional bookkeeper can help streamline your business operations…
Doing your finances is a lot of work, especially around tax season. That’s why hiring the right CPA involves time and research before you find the right person to entrust your finances with. Here are some things to consider as you search through local tax preparers. 1. Certification Before you entrust your financial information…
Tax preparation is never easy, especially for individuals with a complicated financial situation or who own a business. It’s important to be prepared and educated on what you need to know to maximize your tax return while avoiding any potential IRS penalties. Here are some tips that will help you get ready for tax season.…
According to the National Association of State Boards of Accountancy, currently, in the United States, there are more than 665,000 CPAs who are actively licensed. Of course, you only need one, and finding the right one for your needs can take some effort. Continue reading to learn a few helpful questions to ask any certified…
Accountants provide essential services to many different types of businesses as well as individuals. One of the services that an accountant provides is attest services. Most people are unaware of what attest services are and why they are so important. Here is a brief overview of attest services and why they are necessary. What Are…
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