Our Financial Blog

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— Due to the present health situation within the state, we have decided to suspend meetings until further notice.

5 Tax Laws To Watch for in 2022

5 Tax Laws To Watch for in 2022

Every year, new legislation, changing culture, and other external factors affect how taxes are received and processed by the IRS. It’s going to be no different when you file your taxes in 2022. Here are five of the new tax laws that we think you should be cognizant of...

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Are Bank Accounts With $600 Being Monitored?

Are Bank Accounts With $600 Being Monitored?

The Biden administration’s new proposal would give the IRS the ability to monitor bank accounts with more than $600 in them or with a total annual cash flow of more than $600. This includes personal checking accounts–but don’t worry just yet. The proposal is still in...

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What Does The $600 Venmo Limit Mean?

What Does The $600 Venmo Limit Mean?

Recently, social media has been blowing up with the news that beginning January 1, 2022, the IRS will be issuing a 1099-K to all users who receive more than $600 on Venmo, CashApp, or any other financial transaction app that allows funds to be transferred between...

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Reduce Your Stress with LRS

Reduce Your Stress with LRS

Financial statements are the dashboard of your business–they tell you where your money is going, where it’s coming from, and how much you have to work with.   And while most dashboards look rather similar, having someone experienced behind the wheel makes all the...

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Blog Categories

Tax Tips

A Few Other Resources We’ve Created for Our Customers

What is the Energy Efficient Commercial Buildings Tax Deduction?

What is the Energy Efficient Commercial Buildings Tax Deduction?

Building owners who have made energy efficiency improvements to their properties can utilize the statute of limitations for amending tax returns to receive immediate tax deductions under the Energy Efficient Commercial Buildings Tax Deduction, commonly called the...

Business Tax Update

Business Tax Update

Below please find a corporate tax article prepared by Sal Schibell, which was recently published in various trade magazines. In this piece, Mr. Schibell reviewed some of the more important tax changes that President Donald Trump has proposed and he expanded upon...

Tax Tip – Health Insurance Marketplace, (Affordable Care Act)

Tax Tip – Health Insurance Marketplace, (Affordable Care Act)

Taxpayers who obtain health insurance through the Affordable Care Act Health Insurance Marketplace must advise the Marketplace of changes in certain circumstances. Any life event may impact an individual eligibility for the Premium Assistance Credit, or effect the...