Newburg | CPA News Brief May 31, 2022 Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it out for part of the year. The tax treatment depends on how many days it’s rented [...]
Newburg | CPA Special News Brief May 26, 2022 As of Tuesday May 31, 2022 QuickBooks Desktop will no longer be supporting add-on services and will discontinue technical support for all QuickBooks versions 2019 and prior. Security updates will also be discontinued. It is for this reason that our [...]
Newburg | CPA News Brief May 24, 2022 Once a relatively obscure concept, “income in respect of a decedent” (IRD) may create a surprising tax bill for those who inherit certain types of property, such as IRAs or other retirement plans. Fortunately, there may be ways to minimize or [...]
Newburg | CPA Tax Brief May 17, 2022 Following extraordinary investment and epic innovation in 2021, the life sciences industry is primed for further growth in 2022. Fueled by new partnerships, public and private investment, and new breakthrough innovations, the future of biotech and life sciences is more secure [...]
Newburg | CPA News Brief May 10, 2022 For 2022, the federal gift and estate tax exemption has reached its highest level ever. In fact, you can transfer up to $12.06 million by gift or bequest without triggering federal transfer taxes. This is a limited time offer, however, as [...]
Newburg | CPA Special News Brief - Newburg Staff Writers May 5, 2022 As detailed on the sba.gov website, the COVID-19 EIDL portal will be closing on May 16, 2022. The SBA would like to remind EIDL participants that they should download all of their loan documents from the [...]
Newburg | CPA News Brief May 3, 2022 Despite the robust job market, there are still some people losing their jobs. If you’re laid off or terminated from employment, taxes are probably the last thing on your mind. However, there are tax implications due to your changed personal and [...]
Newburg | CPA Special News Brief March 25, 2022 Effective March 23, 2022 the Baker Administration announced a new grant program positioned to boost hiring by providing eligible employers with a $4,000 per employee grant. The funds can be used to cover training costs, supervision time or employee bonuses. [...]
Newburg | CPA Tax Brief March 23, 2022 Summary The FASB issued ASU 2021-07[1] (“Update”) to address the concerns from stakeholders about the cost and complexity of determining the fair value of equity-classified share-based awards for private companies. It specifically permits private companies to use 409A valuations prepared under [...]
Newburg | CPA Tax Brief March 17, 2022 If charitable giving is important to you, consider a donor-advised fund (DAF). A DAF — typically sponsored and managed by a community foundation or commercial investment company — offers many of the benefits of a private foundation at a fraction of [...]
