Updated Federal Guidance

Proposed 2023 Federal Budget Announced

The Biden administration on March 28 issued its fiscal year 2023 budget, which would reduce the national deficit by approximately $1 trillion over 10 years primarily by increasing the corporate tax rate to 28% and introducing a minimum tax on billionaires.

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New SECURE 2.0: Securing a Strong Retirement Act 

The Securing a Strong Retirement Act makes legislative changes related to retirement savings.  From catch-up contributions to required minimum distributions and qualified charitable distributions to annuities, and small business tax credits; this new legislation contains numerous provisions that will require careful planning.

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Q2 Tax Calendar:

Tax Deadlines for Businesses and Individuals

The first quarter tax filing deadlines for businesses has passed.  Looking forward, understand the key tax-related deadlines affecting businesses and other employers during the second quarter of 2022 

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Reasons to Accelerate Income and Defer Deductions

Tax planning is essential for all businesses, regardless of your size or industry.  Working with your CPA to create a strategy to minimum taxable income is dependent on tax laws changes and tax rate fluctuations, especially in recent times.  In this article we present a options that may be beneficial to you and your business.

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Inflation is Here - What Now?

Concerns about the elevated inflationary environment continue to persist. There are numerous contributing factors such as a rapid increase in wages, energy prices and an imbalanced global supply chain with demand vs. supply for many goods and services far from equilibrium. To better understand these factors, it is important to first distinguish inflation from inflationary pressure. Inflation is typified by a sustained increase in the general price levels in an economy, while inflationary pressure is described as either a leading indicator of actual inflation or temporary pricing increases due to isolated or short-term events.

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