Income Tax
Ins and Outs of the Home Sale Exclusion
Here are several key points about the home sale exclusion that you should know about before you hand over the keys.
Key In on Improved Home Energy Credits
The IRS is reminding taxpayers that they may qualify for expanded home energy credits in 2023 (IR-2023-97, 5/4/23) There are two types of credits.
The IRS and Gambling – The Tax Blotter – June 16, 2023
Taxpayers can claim a limited deduction for gambling losses, but the IRS keeps close tabs on these write-offs.
IRS, Treasury Issue Proposed Guidance on Monetization Options for Energy Tax Credits
The proposed rules released on June 14 focus on elective pay and transferability of credits under the Inflation Reduction Act.
IRS Clarifies Elective Payment Rules for Semiconductor Chips Tax Credit
The CHIPS Act allows eligible taxpayers to make an election to treat the credit as a payment against federal income tax.
Redefining Success: What It Looks Like When Growth Isn’t the Top Priority
A lifestyle accounting firm emphasizes the personal lives of their employees in a way that focuses on balance, which may look different from a firm where scaling financial growth is the main priority.
When to Make Nondeductible IRA Contributions
When should you begin to make nondeductible contributions to your IRA?
AICPA Supports Changing Requirements to Form 1099-K Reporting Threshold
For many months, the American Institute of CPAs (AICPA) has expressed its concerns regarding the lowered Form 1099-K reporting threshold