GRF CPAs & Advisors Announces Four New Partners
GRF has promoted four members of the firm to Partner: Lindsay Dean, CPA; Tricia Katebini, CPA, MBA; Max Manley, CPA; and Melissa Musser, CPA, CITP, CISA.
Reporting Requirements for International Income and Foreign Assets
By Jennifer Galstad-Lee, Tax Manager Many Americans, including resident aliens, are moving to and from foreign countries and living abroad as cross-border commerce grows. Twenty months after the COVID-19 shutdown, our new normal includes a growing population of digital nomads within an acceleration of globalization. This trend has led to new tax logistics for many…
New Tax Provisions in the Infrastructure Investment and Jobs Act
On Monday, President Biden signed HR 3684, the Infrastructure Investment and Jobs Act, into law. The comprehensive $1.2 trillion infrastructure package authorizes funds for federal-aid highways, highway safety programs, and transit programs, and for other purposes. Included in the new law are a few tax provisions of note to taxpayers. Termination of the Employee Retention…
2021 Tax Strategies for Individuals and Businesses
By Jennifer Galstad-Lee, CPA, JD, Tax Manager November is a great time to review your taxable individual and business income with the goal of maximizing your tax strategies for the current year. Below we provide some helpful checklists and schedules to guide you through some key tax considerations. Individuals Summarized below are several tax moves…
Tax Consequences of Offering Innovative Benefits
Although some companies that sent workers home during the pandemic have returned them to the office, many businesses continue to rely on remote workers. At the same time, companies in a range of industries are struggling to find and keep employees. This unusual business environment has spawned some innovative fringe benefits — or expanded traditional offerings…
Mind the Wash Sale Rule When Harvesting Tax Losses
While stock values have mostly gone up so far this year, bull markets don’t last forever. And the price of a particular stock can fluctuate up or down, independent from the market’s overall trend line. When you make what turns out to be an ill-fated stock investment in a taxable investment account, the saving grace is…
The R&D Tax Credit: Are You Leaving Money on the Table?
By Patrick Crosby, Tax Supervisor The Research & Development Tax Credit (R&D credit) may hold the record for the most underutilized tax incentive available in today’s business environment. Too often, the R&D credit is overlooked simply because taxpayers are not aware of it or they do not believe that it applies to their businesses because…
2021 Tax Strategies for Small Businesses
National Small Business Week will be celebrated September 13-15 this year to honor America’s small businesses and recognize their hard work. More than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.[1] This month’s tax planning article…
Tax Advantaged Strategies Help Save and Pay for College
The cost of attending colleges and universities in the U.S. is among the highest in the world, according to the latest OECD statistics. For college students in the 2022-2023 academic year, the average cost of tuition and fees was $39,400 at private colleges, $10,940 at in-state public colleges, and $28,240 at out-of-state public colleges –…