How Healthy Aging can Help you Save for Retirement

According to John Rampton, Founder and CEO of Due, a person’s health becomes increasingly important as they age. The reason? It is not uncommon for health problems to result in higher medical costs, lost…

Continue Reading

Updates on 2023 Tax Filing Season

National Taxpayer Advocate Erin M. Collins released her statutorily mandated midyear report to Congress. The report analyzes the IRS’s effectiveness in processing original returns, amended returns, taxpayer…

Continue Reading

Estimated Quarterly Taxes due June 15th

The Internal Revenue Service reminds taxpayers who pay estimated taxes that the deadline to pay their second quarter tax liability is June 15th. Taxpayers may have to pay estimated tax if the amount of…

Continue Reading

Update to Form 1099-K Reporting Threshold

In late December 2022, the Internal Revenue Service announced a delay in reporting thresholds for third-party settlement organizations (TPSOs). As a result of the delay, the existing 1099-K reporting threshold…

Continue Reading

New PA Tax Credit can help ease Child and Dependent Care Costs

Eligible Pennsylvanians can claim the Child and Dependent Care Enhancement Tax Credit when they file their Pennsylvania Personal Income Tax Return (PA-40). This credit can range between $180 and $630,…

Continue Reading

Secure 2.0 Act of 2022 Designed to Improve Retirement Savings Options

The SECURE 2.0 Act offers incentives for employers, especially small to mid-size employers without a current retirement plan in place, to establish and maintain retirement plans. From expanding coverage…

Continue Reading

Tax Credits for Philadelphia Residents

The Federal Earned Income Tax Credit (EITC) The City of Philadelphia wants every qualifying Philadelphian to receive the federal¬†Earned Income Tax Credit (EITC). This federal credit is for low-to-moderate-income…

Continue Reading

Retirement Account Tax Inflation Adjustments for Year 2023

The IRS announced the 2023 inflation-adjusted dollar-amount ceilings and thresholds for a wide range of qualified retirement plans and accounts, including traditional individual retirement arrangements…

Continue Reading

Qualified Appraisal Required to Deduct Charitable Contribution of Cryptocurrency

Earlier this month, the Internal Revenue Service (IRS) released a memorandum (CCA 202302012) concluding that a qualified appraisal is required when a taxpayer claims a charitable contribution deduction…

Continue Reading

Blog: The Top 5 Reasons You Should Be Using Tax Caddy

TaxCaddy is a software program designed to make gathering tax documents and sharing them with your tax professional a breeze. But why take our word for it? Here are the top 5 reasons YOU should be using…

Continue Reading