Resources

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Maximize Your Health Savings With an HSA

Maximize your health savings account benefits and avoid unnecessary taxes and penalties. Discover the eligibility criteria, benefits, and how to effectively manage your HSA.

The home office deduction: myths and must-knows

The home office deduction offers a valuable tax break for the self-employed, freelancers, and independent contractors. Learn about the deduction and how it may reduce your tax liability.

Practical strategies for managing a sudden financial gain

Are you equipped to handle a sudden financial gain? Learn four steps you can take to navigate tax planning and potential tax burdens associated with a financial windfall.

Financial analysis of leasing vs. purchasing a vehicle

Understanding the financial differences between leasing and purchasing a vehicle can save you a significant amount of money. This article provides a detailed breakdown to help you make an informed decision.

Retirement plan audit and contribution considerations

The evolving retirement plan landscape opens opportunities for companies to review employee compensation packages and consider changes to their plans.

Expansion of energy tax credits under the Inflation Reduction Act

Discover how the IRA's expanded energy tax credits offer substantial incentives for a range of projects, from solar power to energy storage. Delve into the specifics of these credits and learn how these changes can benefit project developers and innovators in the energy sector.

Navigating the new DOL guidance on worker classification

The U.S. Department of Labor's new rule reinstates the "economic reality test" for distinguishing employees from independent contractors and underscores the significant legal and financial consequences of misclassification. This article provides an overview of the rule, its implications, and the steps employers must take to ensure their worker classifications are under the updated guidelines.

Tax relief bill passes House, faces uncertain fate in Senate

Tax legislation packaging the child tax credit and favorable business tax provisions moves to the Senate with momentum but an uncertain fate.

Self-employed? Here’s how to pick between a SEP IRA and Solo 401(k) for your retirement

Explore two popular retirement plans, SEP IRA and Solo 401(k), for the self-employed in this overview, focusing on their benefits, drawbacks, and the strategic considerations for choosing between them. Learn about higher contribution limits, flexibility, and tax advantages these plans offer. Get insight into which plan best fits your retirement goals and business structure.

Deadline for filing 2023 forms 1099 is near but beware of important changes

New electronic filing requirements, revised form 1099-NEC and new form 15397 present addional challenges for 1099 filers that may necessitate updates

Team Member Advancements

We are excited to formally announce the following advancements within the Firm!

From partnerships to side gigs, who really owes self-employment taxes?

Explore the impact of a recent legal shift that broadens the scope of self-employment taxes, including limited partners and gig workers. Learn how everyday activities could land you in the self-employment tax bracket and how to avoid potential penalties.