If you’ve been catching bits and pieces about IRS funding cuts but feel a bit lost in the details, you’re in good company. Let’s break it all down in plain, friendly terms—because taxes are complicated enough without the drama.
Author Archives: Ken Rogers
Deducting Meals and Entertainment
When are meal and entertainment expenses nondeductible, 50% deductible, or 100% deductible?
File your Beneficial Ownership Information Report on time
To avoid criminal & civil penalties, businesses must file a report with the Financial Crimes Enforcement Network (FinCEN)
My Fiscal Office is Requiring ALL clients to have a IRS Identity Protection (IP) PIN.
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.
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.
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.
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