May 2023
The IRS Clarifies What Counts as Qualified Medical Expenses
If you itemize deductions on your tax return, you may wonder: What medical expenses can I include? The IRS recently issued some frequently asked questions addressing when certain costs are qualified medical expenses for federal [...]
Education Benefits Help Attract, Retain and Motivate Your Employees
One popular fringe benefit is an education assistance program that allows employees to continue learning and perhaps earn a degree with financial assistance from their employers. One way to attract, retain and motivate employees is [...]
April 2023
Businesses, Be Prepared to Champion the Advantages of an HSA
With concerns about inflation in the news for months now, most business owners are keeping a close eye on costs. Although it can be difficult to control costs related to mission-critical functions such as overhead [...]
Tax News for Investors and Users of Cryptocurrency
If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And you may soon notice a new form reporting requirements for digital assets. Check the box [...]
There’s a Favorable “Stepped-Up Basis” if You Inherit Property
A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she inherits from another? This is an [...]
Take Advantage of the Rehabilitation Tax Credit When Altering or Adding to Business Space
If your business occupies substantial space and needs to increase or move from that space in the future, you should keep the rehabilitation tax credit in mind. This is especially true if you favor historic [...]