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The Best Way to Survive an IRS Audit is to Prepare
June 28th, 2023
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Audit |
Audit & Assurance |
Tax
The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage […]
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Plan Sponsor Alert: Despite Growth, HSAs Largely Untapped for Retirement Savings
June 23rd, 2023
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Financial & Retirement Planning |
Tax
Healthcare is a major cost in retirement, yet many people don’t plan effectively for it. Fidelity’s annual Retiree Health Care Cost Estimate showed that in 2022, an average retired couple […]
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Virtual Currency Lands in the IRS’s Crosshairs
June 21st, 2023
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Tax
While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched Operation Hidden Treasure to root out […]
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When Can Seniors Deduct Medicare Premiums on their Tax Returns?
June 16th, 2023
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Tax
If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be […]
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Three Tax Credit Opportunities for Manufacturers Under the Inflation Reduction Act
June 13th, 2023
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Tax |
Tax Credits
In 2022, Congress passed the Inflation Reduction Act (IRA), a broad piece of legislation featuring provisions to advance clean energy production and domestic manufacturing capacity. Changes to tax credits and […]