In the past, we strongly recommended that clients obtain an IRS Identity Protection (IP) PIN. This year, as part of our mandated Written Information Security Plan (WISP), we are now requiring all clients to have an IRS IP PIN.
Author Archives: Ken Rogers
Roth Conversions VS Harvesting Capital Gains
Navigating the opportunities and challenges that come with significant appreciated investments or large pre-tax retirement accounts. While this growth is fantastic, it can bring up important considerations around managing portfolio risk, protecting gains, and addressing potential future tax burdens.
Are Zombie Expenses Killing Your Bottom Line?
At My Fiscal Office we started using the term “zombie expenses” to refer to those expenses our clients don’t realize they are paying month after month.
Stupid Tax Tricks
It’s election year, which means we’re seeing a lot of tax proposals. In the current highly charged political environment, it’s important to remain informed about potential tax changes that could affect your finances.
4 things you need to know about donations and your taxes
Political Donations: Unfortunately, these aren’t deductible on your taxes.
– Tax Deduction Specifics: We’ll go over what’s deductible and what isn’t.
– Donations Through Your Business: We’ll explain why this might not be the most tax-efficient method.
– Donor-Advised Funds (DAFs): Discover how DAFs can help you maximize your donation deductions.
Convenience of Employer Rule And Taxes
Remote work has become more popular in recent years. While remote work is nothing new, the rise in the number of people working remotely has become an issue when it comes to collecting taxes. As a result, some states have adopted the convenience of the employer rule or something similar. We’ll cover everything you need to know about the convenience of the employer rule as it continues to take shape
NY ditches hidden credit card surcharges with updated law
Businesses in New York must clearly state the higher credit card price of an item and limit their surcharge amounts after an updated law goes into effect.
Tax Planning with Inherited IRA
Given that every penny withdrawn from an inherited traditional IRA is counted as taxable income you need to be strategic in how you will time your withdrawals,
A New Federal Overtime Rule and What is Different in New York
Eligibility for overtime expanded to include more white-collar workers. Now more of your workers might be eligible for overtime pay.
Big Changes in Taxes are Coming
I’m sure you’ve enjoyed the lower tax brackets introduced by the Tax Cuts & Jobs Act in 2017. However, many people aren’t aware that the rules of the TCJA will potentially sunset at the end of 2025.