News & Updates
Highlights of the Infrastructure Investment and Jobs Act
Highlights of the Infrastructure Investment and Jobs Act While the recently passed Infrastructure Investment and Jobs Act primarily addresses infrastructure-related issues, it includes several tax provisions affecting individuals and small business taxpayers. Let's...
Small Business Taxpayers: The Year in Review
Small Business Taxpayers: The Year in Review Here's what business owners need to know about tax changes for 2021. Standard Mileage Rates The standard mileage rate in 2021 is 56 cents per business mile driven. Health Care Tax Credit for Small Businesses Small business...
Individual Taxpayers: The Year in Review
Individual Taxpayers: The Year in Review As we close out the year and get ready for tax season, here's what individuals and families need to know about tax provisions for 2021. Personal Exemptions Personal exemptions are eliminated for tax years 2018 through 2025....
Importance of Refining Costs
Importance of Refining Costs Creating a budget is a very important preliminary step in owning a business. To use your budgets effectively, you will need to review and revise them frequently. This is particularly true if your business is growing and you plan to move...
Shared Custody and Advance Child Tax Credit Payments
Shared Custody and Advance Child Tax Credit Payments Parents who share custody of their children may be confused about how the advance child tax credit payments are distributed. As such, the first step is to remember that these are advance payments of a tax credit...
IRS Charges Fee for Estate Closing Letters
IRS Charges Fee for Estate Closing Letters Starting October 28, a new $67 user fee will apply to any estate that requests an estate tax closing letter for its federal estate tax return. This closing letter is formally referred to as IRS Letter 627. Background By law,...
Business Owners: Year-end Tax Planning Strategies
Business Owners: Year-end Tax Planning Strategies Several end-of-year tax planning strategies are available to business owners to reduce their tax liability. Let's take a look: Deferring Income Businesses using the cash method of accounting can defer income into 2022...
Individual Taxpayers: Year-end Tax Planning Strategies
Individual Taxpayers: Year-end Tax Planning Strategies With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies that could reduce your tax bill for 2021. General Tax Planning Strategies General tax planning strategies...
‘Awesome ideas’: Students’ mural depicts Johnstown’s past, present, future
JOHNSTOWN, Pa. – When Hiromi Katayama and four Greater Johnstown High School students started working to create a mural together, she posed one question to them – “What is Johnstown?” Katayama, a native of Japan who lives in Washington, Pennsylvania, was unfamiliar...
Quick Bytes- General Bank Reconciliation Issues
[vc_row][vc_column][vc_column_text]Our QuickBytes virtual seminar discussed general bank reconciliation issues including opening and beginning balances and changed, deleted, or added transactions in both QuickBooks desktop and online...