Taxes

September 2023 Individual Due Dates September 1 - 2023 Fall and 2024 Tax Planning Contact this office to schedule a consultation appointment. September 11 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips

The United States government is providing tax relief for eligible Hawaii residents amid the rampant wildfires on both Maui and the Big Island. The President has declared a disaster for all parts of Hawaii affected by the wildfires.  Disaster area taxpayers will now have until

Are you wondering where the world economy is going and how your personal finances will stand up to the changes?  If so, you are not alone.  Part of the fun of being on this planet is planning for the future even when it’s not clear

Article Highlights: Inflation Reduction Act Research Credit Payroll Tax Option Research Credit Qualified Research Qualified Small Business Making the Election The Inflation Reduction Act that President Biden signed into law in August of 2022, has a provision that could benefit many small business startups, allowing

Article Highlights: September 15* is the extended due date for partnership and S-corporation tax returns. October 2* is the extended due date for trust tax returns. Late-filing penalty for partnerships and S-corporations Late-filing penalty for trust returns If you have a calendar year 2022 partnership,

Article Highlights: Start Off on the Right Foot Sole Proprietor Partnership Joint Venture C-Corporation Qualified Small Business Stock Section 1244 Election S-Corporation Limited Liability Company When you are starting a business there are several possible business entity types that need be considered to make sure

The proposed merger between the Professional Golfers' Association (PGA) and Live! Inc. (LIV) has generated significant attention. Last year, numerous former PGA Tour players, like Phil Mickelson, Bubba Watson, Dustin Johnson, and Brooks Koepka, left the PGA to compete in LIV events. The move caused

Article Highlights: SECURE 2.0 Act Catch-up Contributions Incentives to Contribute to a Plan Long-term Part-time Workers Automatic Enrollment Required Minimum Distributions RMD Penalties Emergency Savings Accounts Penalty-Free Withdrawals Other Distribution Changes In 2019 Congress passed legislation named the Setting Every Community Up for Retirement Enhancement

Article Highlights: Taxation of Inherited Property Inherited Basis Date of Death Value Alternate Valuation Date Joint Tenants Married Gain or Loss on Sale Certified Appraisals Deducting Loss on Sale of Inherited Home If you are the recent beneficiary of an inheritance, you may be wondering

Article Highlights: Head of household filing status Earned income tax credit Child tax credit Child care credit for certain working grandparents Grandchild’s education credits Medical and dental expenses More and more individuals who thought their child-rearing days were over are now raising their grandchildren. It