The 2024 Gift Tax Return Deadline is Coming Up Soon
If you made significant gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2024 gift tax return. And in some cases, even if it’s [...]
BOI Reporting: Now You See It, Now You Don’t
If you thought the Beneficial Ownership Information (BOI) reporting deadlines were finally settled, think again. The U.S. Treasury Department has now suspended enforcement of the Corporate Transparency Act (CTA) altogether—meaning no fines, no penalties, and, [...]
The Never-Ending Saga of Beneficial Ownership Reporting: Another Day, Another Deadline
If you've been trying to keep up with Beneficial Ownership Information (BOI) reporting deadlines, you might feel like you're stuck in a regulatory version of Groundhog Day. Just when businesses thought they had a handle [...]
Can I Itemize Deductions on My Tax Return?
You may wonder if you can claim itemized deductions on your tax return. Perhaps you made charitable contributions and were told in the past they couldn’t be claimed because you didn’t have enough deductions to [...]
You May Be Able To Make A Deductible IRA Contribution For Last Year This Year
If you’re getting ready to file your 2024 tax return and your tax bill is higher than you’d like, there may still be a chance to lower it. If you’re eligible, you can make a [...]
Do You Have an Excess Business Loss?
If an individual taxpayer has substantial business losses, unfavorable federal income tax rules can potentially come into play. Here’s what you need to know as you assess your 2024 tax situation. Disallowance rule The tax [...]
BOI Enforcement Resumes; New Filing Deadline Set
We wish to inform you of a significant development regarding the Corporate Transparency Act (CTA), which mandates that certain business entities disclose their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN). Background [...]
Try IRS’s Online Tools for Immediate Assistance
With the busiest time in the tax filing season approaching, the IRS is reminding taxpayers of the online tools available at IRS.gov to get immediate answers. Various options are available at the Let us help you page [...]
Honoring the Legacy of R. John Jones: A Beacon of Leadership and Service at Linkenheimer LLP
The Retirement of Managing Partner R. John Jones As Linkenheimer LLP approaches a significant transition, we honor the remarkable career of our Managing Partner, R. John Jones, who will retire in July 2025. John's journey [...]
Looking Ahead to 2025 Tax Limits as You Prepare to File Your 2024 Return
Chances are, you’re more concerned about your 2024 tax return right now than you are about your 2025 tax situation. That’s understandable because your 2024 individual tax return is due to be filed by April [...]