Important Massachusetts Tax Changes for 2024 Filing Season
As tax season is now upon us, it’s important to note the ever-changing landscape that is tax law. As we approach the 2024 filing season,
February 3, 2025
New Tax Guidelines
New RMD Rules for Inherited IRAs: What You Need to Know Before 2025
The recently finalized rules for required minimum distributions (RMDs) and inherited IRAs, effective January 1, 2025, introduce significant changes for beneficiaries. Under the SECURE Act
October 17, 2024
Corporate Taxes
What is Beneficial Ownership Information Reporting?
I wanted to inform you about a new federal regulation that could impact you if you are a business owner. All companies, regardless of when
August 30, 2024
Personal Taxes
IRS: Home improvements could help taxpayers qualify for home energy credits
The IRS has expanded home energy credits, allowing taxpayers to save on their taxes by making energy-efficient upgrades to their homes. These credits, enhanced by
May 28, 2024
Corporate Taxes
Distributions vs. Reasonable Compensation
Taxpayers who fully own or partially own an S-Corp and work for the corporation have two ways of pulling money out of the corporation.
October 11, 2023
Personal Taxes
SEP IRA, SIMPLE IRA or SOLO IRA
Should I contribute to a SEP IRA, a SIMPLE IRA, or a Solo-401K? Being Self-employed has some great benefits but one of the best is
September 8, 2023
Corporate Taxes
Should I Incorporate as an S-Corp or an LLC?
There are many business entities that owners can consider when choosing to incorporate. The two most popular are Limited Liability Companies (LLCs) and Subchapter S
June 7, 2023
Personal Taxes
What is a Deduction?
When tax season comes around people love to talk about deductions. Tax deductions, put in the simplest way, are items that lower your taxable income
January 30, 2023
Personal Taxes
Estimated Payments
In our income tax system, you are supposed to pay income tax on the income when you earn it. This means you are supposed to
January 5, 2023
Corporate Taxes
1% Excise Tax on Corporate Stock Buyback
Stock buybacks are a common corporate strategy to boost stock prices and increase shareholder value. A significant amount of buybacks take place in the United
November 18, 2022