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RECENT INSIGHTS:
Retirement Tax Planning for Medicare Premiums
High-income retirees pay more in monthly Medicare premiums, but with careful planning – and an appeal when necessary – the premiums can potentially be reduced.
Why Do Nonprofits Need Financial Statement Services? Part 1: State and Grantor Compliance
Nonprofit compliance requirements vary from state to state. Private foundations, agencies, and other grantors often have their own requirements, too. It’s important for organizations to understand what these are before accepting any funding.
New Form 990-N Sign-In Process
Starting August 1, 2022, Form 990-N filers – small nonprofits – are required to use a more streamlined, modern online filing system. ID.me, the IRS’s ID authentication system, will be required for new users.
RMD and Estimated Tax Payments: Considerations and Tax Strategies
Many taxpayers may not realize that taxes are not automatically withheld from RMDs. There are tax strategies to manage estimated tax payments, but the deadline of Dec. 31 is quickly approaching.
So, You Think You Know Unallowable Costs?
Learn about unallowable costs and what determines a costs' allowablility. We also provide a listing of FAR and DFARS clauses that are considered to contain expressly unallowable costs subject to penalties.
Update on 100 Percent Meals Deduction for Contractors
Construction contractors and other taxpayers can maximize year-end tax planning with the 100% meals deduction, which will be reduced to 50% on January 1, 2023.
