by Megan Kosciolek, MST | Jun 26, 2024 | Uncategorized
Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections. Our current situation The Tax Cuts and Jobs Act (TCJA), which generally took effect in 2018, made sweeping changes. Many of its provisions are set...
by Megan Kosciolek, MST | Jun 12, 2024 | Business, Tax, Uncategorized
The next quarterly estimated tax payment deadline is June 17 for individuals and businesses, so it’s a good time to review the rules for computing corporate federal estimated payments. You want your business to pay the minimum amount of estimated tax without...
by Megan Kosciolek, MST | May 22, 2024 | Blog, Tax
Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated land that you want to subdivide into lots, develop them and sell them off for a big profit. Either way, you’ll incur a...
by Megan Kosciolek, MST | May 15, 2024 | Blog, Tax, Uncategorized
If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions....
by Megan Kosciolek, MST | May 8, 2024 | Blog, Business, Tax, Uncategorized
There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a...
