January 30, 2025
Shareholder Reasonable Compensation
Why the IRS focuses on S Corporation shareholder reasonable compensation as a top audit item, and how to ensure you are compliant.
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Tax Tips & Financial Insights
Blog
November 26, 2024
Foreign Tax Reporting Compliance — Streamline FBAR Filing
A deep dive into the Streamline FBAR Filing procedure as a potentially less expensive way to report unreported foreign income.
Read more →November 22, 2024
Retirement Planning — Roth IRA
Second in our retirement planning series, covering 2024 Roth IRA contribution limits, income limits, backdoor Roth strategies, and tax-free withdrawal requirements.
Read more →November 6, 2024
Retirement Planning — 401k
Part one of our retirement planning series, covering 2024 401k contribution limits, required minimum distributions, and how withdrawals are taxed.
Read more →October 16, 2024
How to Get into Compliance with Foreign Filings
Three methods to bring taxpayers into compliance with FBAR and foreign income reporting: Soft Reporting, Streamline Filing, and Voluntary Disclosure.
Read more →October 14, 2024
A Tax Credit You Can Receive Before You File Your Taxes
The Premium Tax Credit is a refundable credit for those purchasing health insurance through the Marketplace, helping reduce monthly premiums.
Read more →September 17, 2024
Tax Rules for Dependents
A comprehensive guide on claiming tax dependents, including qualifying child and qualifying relative requirements and income thresholds.
Read more →March 20, 2024
Time Is Running Out to Correct Erroneous ERC Claims
The ERC Voluntary Disclosure Program and Withdrawal Program details, including how to correct erroneous claims and avoid penalties.
Read more →February 3, 2024
Beneficial Ownership Information Reporting
The Corporate Transparency Act's new BOI reporting requirement — who must report, what information is needed, deadlines, and exemptions.
Read more →December 19, 2023
Employee Retention Credit
IRS warnings about promoter-driven ERC claims and the three qualifying criteria for the Employee Retention Credit.
Read more →December 19, 2023
When Is a Power of Attorney Needed?
Form 2848 Power of Attorney explained — who can be granted POA, why checking the box on your return isn't enough, and why our firm recommends it.
Read more →December 19, 2023
Tax Free Exchange of Real Estate (Section 1031 Exchange)
Common misconceptions about 1031 exchanges — what qualifies as like-kind property, value requirements for full deferral, and why expert advice matters.
Read more →December 19, 2023
Reporting Cash Payments of Over $10,000
Form 8300 reporting requirements for cash transactions over $10,000 — who must report, the 15-day filing deadline, and penalties for non-compliance.
Read more →December 14, 2023
Suspension of the Employee Retention Credit (ERC) Processing
The IRS moratorium on processing new ERC claims, increased review timelines, and upcoming methods for repaying ineligible claims.
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