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Accounting and Accountability

Feb 25, 2022

In this episode we discuss:

  • S-corps or Partnerships may have added Form K-2 and K-3 requirements if there are any foreign income.
  • 2022 inflation adjustments for some deductions and credits.
  • Allowable contribution amounts for 401Ks have increased.
  • Roth and Traditional IRA information.

We also focused on scams:

  • Venmo...

Feb 11, 2022

In this episode:

  • Another wave of IRS notices has been distributed regarding tax returns incorrectly marked as missing.
  • There are situations where you can withdraw from your IRA before 59.5yo without penalty.
  • There are possibilities to deduct part of your personal tax preparation fees on your business return.
  • There are...