by DhallaCPA | Jan 20, 2023 | Tax Tips
A new law was recently signed that will help Americans with their retirement savings, 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,...
by DhallaCPA | Jan 16, 2023 | Tax Tips
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic. While the credit is no longer available, eligible employers that haven’t yet claimed it might still be able to do...
by DhallaCPA | Dec 26, 2022 | Tax Tips
If your business is closing, we’re here to assist you in any way we can, including taking care of the various tax obligations that must be met. For example, a business must file a final income tax return and some other related forms for the year it closes. Businesses...
by DhallaCPA | Dec 19, 2022 | Tax Tips
The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic tax rules involved in these transactions. Donating to charity In 2022, in order to receive...
by DhallaCPA | Dec 19, 2022 | Tax Tips
If you’re thinking about selling stock shares at a loss to offset gains that you’ve realized during 2022, it’s important to watch out for the “wash sale” rule. The loss could be disallowed Under this rule, if you sell stock or securities for a loss and buy...
by DhallaCPA | Dec 19, 2022 | Tax Tips
How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for pensions, as well as other qualified retirement...
