by Ryan Burke, CPA, MSF | Jul 19, 2023 | Estate Planning, Tax
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. Learn more about the step-up basis or step-down here. How do the rules work? Under the current fair market value basis rules (also known...
by Ryan Burke, CPA, MSF | Jun 14, 2023 | Blog, Tax
If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be costly, especially for married couples with both spouses paying them. But there may be an advantage: You...
by Ryan Burke, CPA, MSF | May 23, 2023 | Blog, Business, Tax
The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA fundamentals An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account...
by Ryan Burke, CPA, MSF | Apr 26, 2023 | Uncategorized
If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And you may soon notice a new form reporting requirements for digital assets. Check the box Beginning with tax year 2022, taxpayers must check a box on their tax...
by Ryan Burke, CPA, MSF | Mar 29, 2023 | Business, Tax
If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form of business for your new venture. Here are some of the reasons why. A big benefit of an S corporation over a partnership is that...
