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Accounting and Accountability

Jul 28, 2023

In this episode:

  • Inherited IRAs - Different rules on distribution requirements.
  • New IRS targets for LLCs and LLPs. 
  • Mortgage interest limitations on personal residence and secondary homes.
  • New IRS scam arriving in the mail. 
  • IRS says they will no longer be conducting surprise on-site visits. 

We are also joined in the...

Episode 71: Major Changes for Form 1099 and W-2 Filing

Jul 14, 2023

In this episode:

  • New thresholds requiring Form 1099s and most W-2s to be e-filed.
  • 263A: Uniform Capitalization rules.
  • Situations that avoid the 10% penalty tax for early withdrawals from traditional IRAs and 401Ks.
  • Deductible HSAs.
  • Lawsuit proceeds for physical injuries may be tax free. 

 We also hear from...