🏛️IRS Drastically Expands Electronic Filing Requirement for 2023 Tax and Information Returns

The IRS significantly expanded mandatory electronic filing of tax and information returns that require almost all returns filed on or after Jan. 1, 2024, to be submitted to the IRS electronically instead of on paper.   © 2023 BDO USA, LLP. All rights reserved.  

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Related:  2023 Year-End Tax Planning Guide - Income Tax

📑The Section 41 R&D Tax Credit Reporting Requirements: Preparing for New Form 6765

Proposed changes to Form 6765 Credit for Increasing Research Activities, also known as the Section 41 research credit or R&D tax credit, are expected to become effective beginning with tax year 2024.   © 2023 BDO USA, LLP. All rights reserved.   

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🚘Appreciated Fringe Benefit of a Company Car

Understanding the tax deduction of a company car.

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🚗Standard Mileage Rate for 2024

The standard mileage rate for 2024 only slightly increased.

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⏳Business Deadlines for the First Quarter of 2024

The 1^st Quarter of the year is filled with tax filing deadline, this article provides a summary for business owners and employers.

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👏2024 Promotions Announced

We are thrilled to share the exciting news of the 2024 Firm-wide promotions at Lumsden McCormick CPAs including naming Tim Bubar, Mark Stack, and Bob Torella partners.

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Read 2024 New Partner Announcement

In addition, Lumsden McCormick Financial Services appoints Jeff Budzinski Managing Director.  

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🏒Attention Clients - Win Hockey Tickets

Back by popular demand, Lumsden McCormick clients can enter to win two tickets to an upcoming Sabres game. Raffles will be held monthly from November 2023 - March 2023 for games December - April. Go team!

Register to win!