President Joe Biden signed the budget reconciliation bill H.R. 5376 into law Tuesday, August 16, 2022. Better known as the Inflation Reduction Act, the bill includes a number of tax provisions that may affect your business.
Category: Tax Services
You have a great concept for a business, but before you move on to developing your buy-sell agreement, do you know what the best structure or entity type is for you? The entity type is crucial to the success of a business and can have drastic legal and tax consequences for a company. As a business owner, it is your responsibility to understand the structure of the business you are creating and your personal stake within the company.
You sold your house, congratulations! Depending on your situation, you may be eligible to exclude some or all of the profit from the sale from your taxable income. This is called the principal residence exclusion.
If you experienced any life changes - got married, had children, took on a side hustle, etc. – since filing your most recent Form W-4, it may be time to check your withholding.
If you’ve recently filed or plan to file for the Employee Retention Credit (ERC), expect about a six-to eight-month wait to receive your credit.
If your cryptocurrency activity this past year included any taxable event, it’s important that you are tracking your activity properly and have the necessary documents when you file. If you’re not sure about which activities are taxable events, check out our blog on taxable cryptocurrency activity here.
Investing in cryptocurrency and, more recently, NFTs (non-fungible tokens), has exploded in popularity. While it’s exciting to enter a new market, it’s imperative you’re documenting your activity properly.
Spencer Helwig joined Corrigan Krause as a first year associate in September 2020. Starting his career during a pandemic was certainly a unique way to break into the accounting industry, but the pandemic wasn’t the only challenge ahead of him. Looming just after the holidays, before the first signs of spring, was his first busy season at a public accounting firm.
Blog updated January 2022: As you’re gathering your documents to file your taxes this year, take a moment to check that you’re not making one of these common mistakes.
This year, we are excited to announce our Individual Income Tax Organizer process is now completely electronic through SafeSend Organizer! SafeSend Organizer will take the place of the organizers and questionnaires we’ve historically sent separately through the mail or the portal at the kick off of tax season to help you get organized. In addition to SafeSend Organizer, we will again use SafeSend Returns as our electronic delivery service for you to review and sign your return electronically.
