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.
Category Archives: Taxes
Deducting Meals and Entertainment
When are meal and entertainment expenses nondeductible, 50% deductible, or 100% deductible?
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.
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
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Given that every penny withdrawn from an inherited traditional IRA is counted as taxable income you need to be strategic in how you will time your withdrawals,
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.
Save Money With Year-End Tax Planning
Boost your self-employed income with My Fiscal Office’s year-end tax planning.
Demystifying the R&D Tax Credit
There have been many updates to the Research and Development (R&D) tax credit. And with that comes more internet articles, more R&D Tax Credit marketing and more just plain wrong Tic-Toc-Tax advice. Our clients are not immune to this noise, so we put together this R&D tax credit post to provide the real information.