Jun 14, 2023 | News to Note
From Accounting Today — By Michael Cohn — Republicans on the House Ways and Means Committee advanced a series of bills Tuesday, June 13, aimed at reducing taxes but also rolling back parts of the Inflation Reduction Act passed by the Democrats last year. One of the...
Jun 7, 2023 | News to Note
From CNBC — By Kate Dore CFP — LAS VEGAS — Tax savings aren’t typically the main reason for philanthropy. But if you’re planning to donate money, certain charitable giving strategies provide a bigger tax benefit. Since the Tax Cuts and Jobs Act of 2017, there’s been...
May 31, 2023 | News to Note
From Retirement Daily on the Street — By Joe DiSalvo & Marie Madarasz — If we were to take a poll asking, “Who has an issue with the amount of taxes we pay?” we’re sure many hands would go up. However, if we had a time machine and were to travel back several...
Sep 14, 2022 | News to Note
From Thomson-Reuters and the Pinnacle CPA Advisory Group — The IRS currently provides a tax credit of up to $7,500 for purchasing certain new electric vehicles. The Inflation Reduction Act of 2022 makes several changes to the credit, which has been renamed the Clean...
Aug 17, 2022 | News to Note
From Thomson-Reuters — If you are unlucky enough to suffer a disaster-related casualty loss, some of the costs can be mitigated through tax relief. This article explains the federal income tax implications. Limited deductions for personal casualty losses In theory,...
