Recent Articles
Tax Cuts for Seniors and Corporations Emerge as Key Focus in New Jersey Budget Negotiations
State Lawmakers Propose Property Tax Cuts for Seniors, Possible Funding through Corporate Business Tax Surcharge Extension Tax cuts, particularly for seniors and large corporations, are poised to become a major point of contention in the final weeks of budget negotiations...
Senators Introduce Legislation to Raise Threshold for 1099-K Forms, Easing Tax Reporting Burden for Small Businesses
The Red Tape Reduction Act Aims to Reduce Paperwork and IRS Interference for Small Business Owners Senators Sherrod Brown and Bill Cassidy have introduced the Red Tape Reduction Act, seeking to modify a future tax rule that would require third-party...
Avoiding the Mutual Fund Tax Bomb: Understanding Capital Gains Taxes
How to Navigate Tax Implications and Preserve Your Investment Returns Capital gains taxes are commonly associated with selling gainful investments, but what many investors ignore is the potential tax liability on investments that have reduced in value, even if they...
IRS Announces Stable Interest Rates for Q3 2023
Key Details and Implications for Taxpayers The IRS recently confirmed that it will keep the interest rates stable for the third quarter of 2023. This decision has effects on individuals and companies who owe taxes or are due refunds. In...
IRS Announces Increased Contribution Limits for Health Savings Accounts in 2024
Employees to Benefit from Higher HSA Limits for Next Year The IRS has recently released the inflation-adjusted amounts for health savings accounts (HSAs) for the year 2024. The notable outcome from the announcement is that employees will be able to...
IRS Supreme Court Ruling: Accessing Bank Records for Tax Collection Efforts
Understanding the Implications of the Polselli v. IRS Case and Practical Tips for Managing Tax Debt In a recent landmark ruling, the U.S. Supreme Court weighed in on the IRS’s power to access bank records without notice for tax collection...