Federal Tax News for Individuals
1. Retirement Plan Distributions: Know the Tax Rules At tax time, age matters. Taxpayers who take distributions from their retirement accounts before age 59½ will…
U.S. Supreme Court Rules Against the IRS on Critical FBAR Issue
The U.S. Supreme Court recently weighed in on an issue regarding a provision of the Bank Secrecy Act (BSA) that has split two federal courts…
Before Your Nonprofit Celebrates That New Grant…
Most not-for-profits can’t afford to turn down offers of financial support. At the same time, you shouldn’t blindly accept government or foundation grants simply because…
Residential Construction Companies Should Get the Word Out About Home Energy Tax Credits
Does your construction business work in the residential sector? If so, there are some powerful tax incentives in effect right now that could generate revenue…
Many Tax Limits Affecting Businesses Have Increased for 2023
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here…
How the New SECURE 2.0 Law May Affect Your Business
If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting…