SECURE 2.0 law may make you more secure in retirement
Wed, Mar 1, 2023

A new law was recently passed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022.  A sidebar discusses changes to Achieving a Better Life Experience (ABLE) accounts available to certain disabled taxpayers.

Can you deduct the costs of a spouse on a business trip?
Wed, Mar 1, 2023

A company owner who travels on business, accompanied by his or her spouse, may be able to deduct all the travel expenses incurred by the spouse. However, the rules are restrictive, starting with the requirement that the spouse must be a bona fide employee of the company. Failure to meet that rule is the reason why, in most cases, a spouse’s travel costs aren’t deductible.

Have a foreign account? File an FBAR
Wed, Mar 1, 2023

In an increasingly global society, many taxpayers hold foreign accounts. This article explains the rules regarding who must file a Report of Foreign Bank and Financial Accounts (FBAR) with the government.

Reconsidering your personal emergency fund
Wed, Mar 1, 2023

 Back in 2020 when the COVID-19 pandemic first hit, many people’s emergency funds were suddenly put to the test. Now, presumably with the benefit of some hindsight, the financially savvy might want to reconsider their approach to saving. This brief article discusses some key points to keep in mind.

Protect your business with meticulous records
Wed, Feb 1, 2023

Running a business requires that strong, supportable records be kept. Every expense that appears on a tax return might have to be defended if the IRS decides to audit the return. And failing to operate in a businesslike manner and keep good records might lead the IRS to deem the activity a hobby rather than a business. This means expenses may be limited or disallowed. This article and a sidebar illustrate how the IRS (and sometimes the courts) view business records, what they’re looking for and what’s considered acceptable substantiation. 

Qualifying for the home office deduction
Wed, Feb 1, 2023

Working from home has become the norm for many people in recent years. Now they might be wondering if they can claim the home office deduction for 2022. The short answer is: Only those who are self-employed can claim it. This article delves deeper into the rules involved.

Moving out of state? Learn all the tax implications first
Wed, Feb 1, 2023

 Many people might think about moving to another state. However, it’s important to consider the tax ramifications before doing so. This article urges readers to identify all applicable taxes in a destination state ahead of time and recommends learning what the legal requirements are for establishing domicile.

Throwing snowballs at a mountain of debt
Wed, Feb 1, 2023

It’s common for many people to start the year intending to get out of debt, yet end the year owing just as much, if not more. This brief article explores a debt-reduction approach called “throwing snowballs,” which involves organizing debts from lowest to highest balance and knocking them down one by one.

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Archived Newsletters

January's Topics:

6 key tax Q&As for 2023
Are you at risk for investment fraud?
Are you at risk of retirement plan leakage?
Smooth sailing: Tips for easier navigation through tax season
Tax Calendar


December's Topics

What's your taxpayer filing status?
The pros and cons of NQDC plans
Have you considered a cost segregation study?
Two essential documents to protect your estate


November's Topics:

Year-end gifts and the gift tax annual exclusion
Selling trade or business property? Know the tax effects
As travel returns, so do travel scams
Discover the “hidden” advantage of HSAs


October's Topics:

Renting out your vacation home? Know the tax implications
Check kiting is no small matter
Beware of “wash sales” when selling securities
Talking about the “sandwich generation”
Tax Calendar