News and Events

As the holiday season approaches, gift cards become a popular and convenient gift choice. However, this surge in demand also brings a rise in gift card scams, posing significant risks to both the giver and the recipient. Scammers have developed sophisticated methods to deceive consumers, making it crucial to stay informed and vigilant. Gift card […]

The IRS’s Recent Decision on 1099-K Reporting: A Step Towards Clarity The Internal Revenue Service (IRS) has made a significant announcement affecting taxpayers and tax professionals nationwide. In a recent statement, the IRS confirmed the postponement of the $600 threshold for reporting transactions on Form 1099-K. This decision marks the second consecutive year of delay […]

As 2023 draws to a close, it is crucial for taxpayers to take a moment to review their tax withholding. This isn’t just about avoiding surprises when filing taxes next year, but also about achieving a balance that works best for your financial situation. Even late-year adjustments can significantly affect your tax outcome and help […]

Keeping up with retirement savings can be a bit like gardening – you plant seeds now for a bountiful harvest later. As we look ahead to 2024, the IRS has made some updates for the year 2024 that increase how much you can contribute to your retirement accounts. These changes mean you could potentially save […]

In the wake of global crises and natural disasters, the innate generosity of individuals often shines brightest, leading many to open their hearts and wallets to help those in need. The Internal Revenue Service (IRS), however, has issued a warning urging donors to exercise caution, as there are individuals and groups ready to exploit this […]

The Social Security Administration (SSA) has made a significant announcement. Starting in 2024, over 71 million Americans will see a 3.2 percent increase in their Social Security and Supplemental Security Income (SSI) benefits. This means that the average Social Security retirement benefit will go up by more than $50 per month. Most people who get […]

For many individuals and businesses, the end of the year typically brings with it thoughts of charitable contributions and tax planning. Art, often a valuable asset, sometimes becomes the focus of donation considerations. However, there is a growing need to be vigilant about scams related to art donations and the potential pitfalls of improper deduction […]

For those frequently on the move for business, there is significant news from the realm of accounting and taxes. The IRS has made an upward adjustment in the special per diem rates for business travel, primarily due to inflationary pressures. The revised rates are promising for businesses and their employees. These per diem rates are […]

As the seasons transition from summer to fall, it is not just the change in foliage or pumpkin-flavored delights we need to remember; it is also an important time for taxpayers. The IRS has issued a reminder that the October 16th tax filing extension deadline is rapidly approaching. For many of you who requested an extension on […]

When disaster strikes, from hurricanes to earthquakes, the first concern is, of course, the safety of you and your loved ones. However, safeguarding vital records and essential documents is also an imperative task in disaster planning. As highlighted by the IRS, these crucial documents include tax returns, birth certificates, social security cards, wills, and insurance […]