[vc_row][vc_column][vc_column_text]Parents who share custody of their children may be confused about how the advance child tax credit payments are distributed. As such, the first step is to remember that these are advance payments of a tax credit that taxpayers expect to claim on their 2021 tax retu... Read More
[vc_row][vc_column][vc_column_text]Starting October 28, a new $67 user fee will apply to any estate that requests an estate tax closing letter for its federal estate tax return. This closing letter is formally referred to as IRS Letter 627.
Background
By law, federal agencies are required to c... Read More
[vc_row][vc_column][vc_column_text]While similar to FSAs (Flexible Savings Plans) in that both allow pretax contributions, Health Savings Accounts or HSAs offer taxpayers several additional tax benefits. Let's take a look:[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]What ... Read More
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If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must pay special attention to the difference between independent contractors and employees.
Why It Matters
The Internal Reve... Read More
[vc_row][vc_column][vc_column_text]Several end-of-year tax planning strategies are available to business owners to reduce their tax liability. Let's take a look:
Deferring Income
Businesses using the cash method of accounting can defer income into 2022 by delaying end-of-year invoices so that pa... Read More