Our Blog & News
This Month’s Posts:
Get A Mid-Year Checkup
Do any of these situations apply to you? You have self-employment income You made a job change during the year You have a change in marital status You have multiple sources of income If so, then a midyear tax projection is a great tool to avoid any "surprises" on...
Are You Eligible For Public Service Loan Forgiveness?
Check out the rules available at: Public Service Loan Forgiveness | Federal Student Aid that states If you are employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, you might be eligible for the Public Service Loan Forgiveness...
Last Month’s Posts:
IRS increases mileage rate for remainder of 2022
The IRS recently announced an increase of 4 cents to the optional standard mileage rate due to the increase in gas prices. The new rates are effective July 1, 2022- December 31, 2022: Business travel rate is now 62.5 cents per mile Deductible medical expenses is now...
Tips for Your Kids and Their Employment
It's summertime and we often get asked about how to handle taxes and forms for a child's summer job or first job out of college. We're recapping some tips below: Completing Form W-4 for summer jobs: When you child begins their summer job, their new employer will...
Claiming a child as a dependent when parents are divorced, separated or live apart
From IRS.gov - IRS Tax Tip 2022-98, June 28, 2022 Parents who are divorced, separated, never married or live apart and who share custody of a child with an ex-spouse or ex-partner need to understand the specific rules about who may be eligible to claim the child for...
Avoid Huge Penalties By Filing Your Form 5500 For Your 401K/Profit Sharing Plan By 7/31/21
Just a reminder that if your practice had a 401k/Profit Sharing Plan in place during 2021, you are required to file a Form 5500 by 7/31/22...
July 1st Kicks Off The Next Round of Provider Relief Fund (PRF) Self-Reporting
Practice owners who received Provider Relief Fund (PRF) payments exceeding $10,000 in the aggregate between January 1, 2021 and June 30, 2021 are required to self-report using the PRF Reporting Portal during Reporting Period 3 (RP3) which runs through September 30th. ...