Apr 8, 2022
In this episode:
- Secure Act 2.0 has been passed by the House and is now on to the Senate. Look for updates on Required Minimum Distribution, Charitable Giving, Employer Benefit Plans, lowering the Excise Tax and more.
- There are issues with some taxpayers being required to give back refunded amounts due to the Premium...
Mar 25, 2022
In this episode:
- States with budget surpluses are trying to decide what to do with extra funds resulting from Federal COVID relief.
- MD will suspend gas tax for the next 30 days to help with rising gas April 18th is Federal Income Tax Day! prices.
- April 18th is Federal Income Tax Day! Please remember an extension...
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...
Jan 28, 2022
This episode highlights:
- The IRS expects further delays for taxpayers as we head into tax season.
- Taxpayers are encouraged to file early and electronically to avoid major delays in processing.
- The Advanced Child Tax Letter: Letter 6419 that was sent out by the IRS may not be correct, as it was sent out the day BEFORE...