News & Insights

Tax Tips When Buying the Assets of a Business

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After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible after taxes. […]

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IRS Extends Relief for Inherited IRAs

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For the third consecutive year, the IRS has published guidance that offers some relief to taxpayers covered by the “10-year rule” for required minimum distributions (RMDs) from inherited IRAs or […]

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IRS Issues Guidance on Tax Treatment of Energy Efficiency Rebates

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The Inflation Reduction Act (IRA) established and expanded numerous incentives to encourage taxpayers to increase their use of renewable energy and adoption of a range of energy efficient improvements. In […]

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Scrupulous Records and Legitimate Business Expenses are the Key to Less Painful IRS Audits

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If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully record expenses to claim […]

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Coordinating Sec. 179 Tax Deductions with Bonus Depreciation

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Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year Section 179 depreciation deductions […]

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