Take Retirement Plan Distributions by
For many years, IRS rules stated that taxpayers could not keep retirement funds in their retirement accounts indefinitely. They must start taking withdrawals from their IRA, SIMPLE IRA, SEP IRA, or retirement plan account when they reach age 70 1/2. These withdrawals...Relief Continues for Drought-stricken Farmers
Dec 12, 2022 | Tax Tips
Farmers and ranchers forced to sell livestock because of drought conditions may have more time to replace their livestock and defer tax on any gains from the forced sales. If you are a farmer or rancher affected by drought conditions, here is what you need to know...Early Withdrawals from Retirement Plans
Oct 31, 2022 | Tax Tips
Many people find themselves in situations where they need to withdraw money from their retirement plan earlier than planned. Doing so, however, can trigger an additional tax on top of any income tax taxpayers may have to pay. Here are five things taxpayers should know...Federal Tax Obligations During Chapter 13 Bankruptcy
Oct 31, 2022 | Tax Tips
The most common type of bankruptcy for individuals is Chapter 13, which allows individuals and small business owners in financial difficulty to repay their creditors. Often, it is a last resort for wage earners (individuals and those filing jointly as spouses), the...Closing a Business for Good
Oct 31, 2022 | Tax Tips
If you’re a small business owner who is thinking about closing your business for good, you should be aware that there is more to closing a business than laying off employees, selling office furniture, and closing the doors – you must also take certain...Tax Deductions for Homeowners
Oct 28, 2022 | Tax Tips
For many people buying a home – whether it’s a fixer-upper in an up and coming neighborhood or that custom home you’ve always dreamed of – is a milestone event. While there is often a steep learning curve associated with buying and owning a home,...Tax Due Dates for
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Feature Articles
Tax Tips
- Seniors: A Tax-Wise Alternative to Selling Your Appreciated Home
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- Recovering Lost Documents and Receiving Tax Relief After a Natural Disaster
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- Factoring the QBI Deduction into Year-End Tax Planning for Your Business
QuickBooks Tips
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.