https://www.youtube.com/watch?v=yHJcyGils5o Can’t watch the video? Download the transcript. Business owners may be looking forward to the day they sell their business – but not to the capital gains tax liability the sale incurs. In this short video, Managing Director of Wealth Advisory Services George Sparks shows how a tax-managed account
529 plans are an investment vehicle that allows taxpayers to save for all levels of education. Contributions are made with after-tax dollars, but accumulated earnings and qualified withdrawals are tax-free for federal taxes. If savings towards education for your child or another beneficiary is a priority to you, this type
Businesses that want to pay back the money they received after filing Employee Retention Credit (ERC) claims in error for 2021 tax periods may come forward voluntarily by applying for IRS ERC Voluntary Disclosure (VDA) in the second round of this program which runs August 15, 2024, through 11:59 pm,
The Internal Revenue Service (IRS) has announced its intention to increase audits for certain demographics of taxpayers. This move follows the passing of the Inflation Reduction Act (IRA), signed into law in 2022, which provided the IRS with an additional $80 billion in funding. The increased audits aim to enhance
What does the “One Big Beautiful Bill Act” (OBBBA) mean for your business? There’s a lot to unpack here, and we’ll be covering the implications in a series of blog posts, starting with this one. Today, we’re looking at the implications of the OBBBA for businesses, and you may also
On Monday, September 13th, the House Ways & Means Committee proposed sweeping changes to retirement accounts for high-net-worth individuals. The proposals are aimed at reducing the dollar value of assets held in Individual Retirement Accounts (IRAs) for these high-net-worth individuals. Below are specific items included in the proposals:
Tracey leverages her decades of tax experience, including federal, state, and local tax planning at the corporate and individual level, to help her clients develop and implement strategies to minimize their tax burden. Her dedication to detail, responsiveness, and commitment to ensuring the best possible outcomes make her an invaluable
President Trump announced four pandemic relief executive orders on August 8, 2020 in response to the lack of progress by Congress in passing the Health, Economic Assistance, Liability Protection, and Schools (HEALS) Act. While whether the President has the authority to change federal taxes and extend federal spending without Congressional
https://www.youtube.com/watch?v=oJKXAJKTGHA Can’t watch the video? Get the transcript. If you think your business or non-profit organization doesn’t qualify for the employee retention tax credit (ERTC), you might be surprised. And since it can be worth up to $21,000 per employee in 2021, it’s important to be sure. Take the 3-minute
In March, The Internal Revenue Service (IRS) announced the extension of filing and payment of federal taxes due on April 15, 2020, to July 15, 2020. This extension allows for no late filing penalties or interest to be assessed. Notice 2020-23 was issued late last week to provide additional tax
https://www.youtube.com/watch?v=rc3pElAYnjI Can’t watch the video? Download the transcript. How do the new tax credits work, and how can they help you build a strong foundation for the future? In this webinar excerpt, Barnes Dennig Director and COVID-19 Advisory Team leader Andy Bertke covers some of the highlights.