by briesterer@thinkvisionary.com | Oct 3, 2022 | Individuals, Newsletter, Tax
When the IRS needs to ask a question about a taxpayer’s tax return, notify them about a change to their account, or request a payment, it often mails a letter or notice to the taxpayer. Taxpayers should know that the IRS sends millions of these letters and...
by briesterer@thinkvisionary.com | Sep 1, 2022 | Individuals, Newsletter
Keeping full and accurate homeowner records is not only vital for claiming deductions on your tax return, but also for determining the basis or adjusted basis of your home. These records include your purchase contract and settlement papers if you bought the property,...
by briesterer@thinkvisionary.com | Sep 1, 2022 | Business, Newsletter
According to the US Small Business Administration, small businesses employ half of all private-sector employees in the United States. However, a majority of small businesses do not offer their workers retirement savings benefits. If you’re like many other small...
by briesterer@thinkvisionary.com | Sep 1, 2022 | Business, Newsletter
Small employer HRAs or QSEHRAs (Qualified Small Employer Health Reimbursement Arrangements) allow small businesses without group health plans to set aside money, tax-free, for employees to use toward medical expenses – including the cost of buying health insurance....
by briesterer@thinkvisionary.com | Sep 1, 2022 | Business, Newsletter, Tax
The Inflation Reduction Act (IRA), signed into law on August 16, 2022, includes provisions affecting businesses, individuals, the clean-energy industry, healthcare, and more. Let’s take a look: Businesses Sec. 461(l) Business Loss Limitation. The pass-through tax...
by briesterer@thinkvisionary.com | Aug 4, 2022 | Individuals, Newsletter, Tax
One of the most important questions you face when changing jobs is what to do with the money in your 401(k) because making the wrong move could cost you thousands of dollars or more in taxes and lower returns. Let’s say you put in five years at your current job. For...
