by candy | Feb 13, 2025 | Featured, News Letter, Taxes
Starting in January 2025, the IRS will allow you to contribute more to your Health Savings Account (HSA) as part of its annual inflation adjustments. For individuals with self-only coverage under a high-deductible health plan (HDHP), the contribution limit will rise...
by candy | Jan 16, 2025 | Bookkeeping, Featured
Are you a self-employed freelance worker who received a 1099 through the Quickbooks contractor portal? This month, the Contractor Portal experience will migrate from QuickBooks Self-Employed (QBSE) to QuickBooks Money. This migration affects the following features...
by candy | Jan 13, 2025 | Featured, IRS
In 2022, the IRS received $80 billion in multi-year funding under the Inflation Reduction Act (IRA), but $20 billion has since been clawed back. Now that we know the outcome of the November 2024 election, this funding could be further reduced. The IRS’s...
by Candy | Jan 10, 2025 | Community, Featured, News, News Letter
The California wildfires have caused immense devastation, and understandably, this crisis is impacting businesses, families, and individuals across the state. Whether you are facing challenges in continuing your business operations or caring for your loved ones, we...
by candy | Dec 16, 2024 | Featured, IRS
The IRS has officially ended the possibility of extending (“stretching”) the distribution of inherited IRAs for most non-eligible beneficiaries. Under the new rules, beneficiaries who inherited IRAs in 2020 or later must transfer all assets from the...
by candy | Dec 9, 2024 | Featured, IRS
As part of the ongoing efforts to protect the senior community, the Internal Revenue Service (IRS) has issued a warning about the increasing threat of impersonation scams targeting older adults. These scams involve fraudsters pretending to be government officials to...