Staff Articles

Wondering What Will Happen with Your Assets After Death? Avoid Probate and Learn More Here.

We do not typically think about what will happen when we are gone but there are some instances where thinking ahead is beneficial. This article will provide you with a brief, not all-inclusive, explanation of probate, the types of assets, ways you can avoid probate…

The Home Office Deduction: an overview of the requirements and deductible expenses

Have you ever wondered whether you qualify for the home office deduction? This article is intended to serve as a brief, not all-inclusive, explanation as to who is eligible for the deduction, various expenses that can be deducted, and other IRS reporting requirements. What is…

Still thinking about becoming a landlord? There are some other things that you should know.

Our last article on real estate investment focused on the passive activity loss rules but there are other tax implications to being a landlord that should be considered in addition to this. A main concern for investors in real estate not held for personal use…

The Ins and Outs of Individual Federal Estimated Tax Payments and the Penalties for Not Paying.

Have you ever wondered why your accountant sets up quarterly estimated tax payments? This article is intended to serve as a brief, not all-inclusive, explanation as to why some individuals are required to pay in estimated tax payments, and what happens if they don’t pay…

The Advantages of Trusts: Securing Your Legacy and Wealth

The use of trusts can be an effective way to avoid certain taxes and to control assets from beyond the grave. Trusts and wealth management are very complex situations, that require much deliberation when determining if to use a trust and what type of trusts…

All things Retirement and Social Security

Thinking about retirement in the coming years? Here are some helpful tools to help you prepare and plan better. According to the Social Security Administration, the benefit for social security will increase 3.2 percent in 2024. Back in 2019, the Secure Act was signed into…

Form 1042 and Withholding Requirements for Payments to Foreign Persons

Before you or your company makes a payment to a foreign person, there are some withholding rules you need to be aware of. Who is a foreign person? Before knowing the withholding rules, it is important to understand whether the person/entity you are paying is…

Tax Benefits for Higher Education

Whether you are paying off your own student loans, or paying the student loans of another person, higher education can be a very costly endeavor. Thankfully there are a number of tax benefits that exist to lower the amount of liability you will have from…

Tips from a Recent Graduate Part 4: Tips for transitioning to full-time work

Are you an accounting student who is feeling overwhelmed by the recruiting process? This column is a series intended to help you succeed as you begin your journey with the accounting profession. Internship As an intern through various Spring tax seasons, the hardest thing for…

Want to escape the winter weather and work somewhere warm for the season?  Things to consider before working remotely. 

The flexibility with working remote and traveling can be attractive, but it is important to be aware of the tax implications associated with it. Starting off, it is important to understand which state you are a resident of.  A resident state is a state you…