IRS delays new reporting rule for online payment processors
December 26, 2023
For the second consecutive year, the IRS has postponed implementation of a new rule that would have led to an estimated 44 million taxpayers receiving tax forms from payment apps and online marketplaces such as Venmo and eBay. While the delay should spare such taxpayers some confusion, it won’t affect their tax liability or income reporting responsibilities. And […]
Continue reading
5 strategies to cut your company’s 2023 tax bill
December 18, 2023
As another year ends with interest rates and markets in flux, one thing remains certain: Reducing your company’s tax bill can improve your cash flow and your bottom line. Below are five strategies — including some tried-and-true and others particularly timely — that you can execute before the turn of the new year to minimize […]
Continue reading
The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning?
December 11, 2023
The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating slightly this year over last, many amounts will increase over 2023 amounts but not as much as in the previous year. As you implement 2023 year-end tax planning strategies, be sure to take these 2024 adjustments into account. […]
Continue reading
Take action now to reduce your 2023 income tax bill
December 4, 2023
A number of factors are making 2023 a confounding tax planning year for many people. They include turbulent markets, stabilizing but still high interest rates and significant changes to the rules regarding retirement planning. While much uncertainty remains, the good news is that you still have time to implement year-end tax planning strategies that may reduce […]
Continue reading