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Using Our Client Portal is So Easy
You may use a home computer, tablet or phone to upload or download documents. Exchanging documents this way is actually more secure than mailing paper! This season has seen an exponential increase in portal activity. I am so pleased and cannot wait to see the additional increase in the coming year. First Time Sign In…
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April is Here!
What is the old saying? April showers bring May flowers. April also brings our Tax Season to a close on the 18th. Our schedule is very full; however, we still have a few openings to fill. When you are scheduling your appointment, you may have to schedule with another agent than you normally would. Please…
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Revenue Ruling RR-2023-02
Section 1014 of the Internal Revenue Code does not apply …. Revenue Ruling 2023-02 confirms that the basis adjustment under section 1014 generally does not apply to the assets of an irrevocable grantor trust not included in the deceased grantor’s gross estate for Federal estate tax purposes. Section 1014 of the Internal Revenue Code does…
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The Last Week of March and First Week of April
These two weeks are our very busiest of the season. The last week of March and the first week of April are always the two weeks filled with the most activity. Everything kind of shifts into high gear at this time and generally, our biggest obstacle is mailing out paper to those clients that require…
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Tax Season Update
Just when you think you are ahead in the ballgame, something comes along and creates an obstacle to overcome. Pitney Bowes notified me that I had to upgrade our mail machine by April 1, 2023. New Postage Meter The new mail machine arrived Wednesday, however I have not had an opportunity to begin the process…
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Reporting Foreign Income
Reporting foreign income and filing a tax return when living abroad U.S. citizen and resident aliens living abroad should know their tax obligations. Their worldwide income — including wages, unearned income and tips — is subject to U.S. income tax, regardless of where they live or where they earn their income. They also have the…
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The First Day of Spring
Monday March 20, 2023 is the official First Day of Spring. However, our weather reality in North Alabama is something totally different. We have a hard freeze warning for tonight.
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Interest Rate Hikes
Anyone heard of Newton’s Third Law of Motion? Newton’s Third Law of Motion states that for every action, there is an equal and opposite reaction. What this means is that pushing on an object causes that object to push back against you, the exact same amount, but in the opposite direction. Who’s Yellen now? The…
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Medical Expenses
IRS addresses questions about medical expenses related to nutrition, wellness and general health… The Internal Revenue Service today posted frequently asked questions that address whether certain costs related to nutrition, wellness and general health are medical expenses that may be paid or reimbursed under a health savings account (HSA), health flexible spending arrangement (FSA), Archer…
