In any season, scam artists are seeking new ways to steal financial data and money from vulnerable people. Such fraudulent activities often target older adults. Here are three ways to help prevent elder financial abuse and fraud, whether you’re in this age bracket or...
For many homeowners, summer means it’s time to tackle home improvement projects. By investing in certain energy-efficient updates, taxpayers not only can lower their power bills but also can score some tax breaks. The Energy Efficient Home Improvement Credit equals...
Certain small business owners may qualify for tax breaks by making their premises accessible to people with disabilities. The CDC reports that 61 million people in the United States are affected by disabilities. The Disabled Access Credit is a nonrefundable credit for...
If you employ a household worker who isn’t an independent contractor, you may be required to pay employment taxes on the worker’s cash wages. This is commonly referred to as the “nanny tax.” In 2024, when a household employee’s cash wages reach at least $2,700, you...
Did you file your 2023 tax return and then realize you’d made a mistake? Perhaps you completed your return yourself and made an error in math or neglected to include a schedule that should’ve been attached. Or maybe you recently remembered some large, potentially...
Most businesses store sensitive information about employees and customers, such as names, addresses, Social Security numbers (SSNs), banking information and more. If lost or stolen, this data could put individuals at risk for identity theft and other types of damage....
Calendar-year trusts and estates: File a 2023 income tax return (Form 1041) if an automatic five-and-a-half-month extension was filed. Pay any tax, interest and penalties [...]
Calendar-year bankruptcy estates: File a 2023 income tax return (Form 1041) if an automatic six-month extension was filed. Pay any tax, interest and penalties due.
Individuals: Make contributions for 2023 to certain existing retirement plans or establish and contribute to a SEP for 2023 if an automatic six-month extension was filed.
Employers: Report Social Security and Medicare taxes and income tax withholding for third quarter 2024 (Form 941) and pay any tax due if all of the [...]
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.
