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Planning Today for a Better Tomorrow™ is our logo for a reason

When we review a return from a prior year, we are looking for ways to reduce taxable income in the current year without passing the burden to future years. Items we review are W-2’s, capital gain income/loss carryovers, business income & expenses, and retirement account opportunities. What can we review for you?

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Crop Insurance Payments

Just a reminder from Pub 225 from IRS: Generally all crop insurance proceeds you receive as a result of physical damage or reduction of income must be reported in the year received. You can elect to p

Don't be surprised in January 2023

IRS has reminded taxpayers who earn income and receive payment by credit card will be receiving a 1099-K if the transactions are over $600. The definition of what is taxable hasn't changed; however, d

Allocation of Purchase Price

Business owners buy and sell assets used in their business every year. There are many rules associated with each side of the transaction. However, a thorough review of what kind of assets purchased

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