Wonder What a Tax Deduction Is Worth?
Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer…
Start Off on the Right Foot for the 2023 Tax Year
If your 2022 refund or balance due turns out not to be the desired amount, you may want to consider adjusting your withholding based on your projected tax for 2023….
What Is Business Cash Flow?
As the name suggests, cash flow is a term used to describe the money coming into and out of a business. Cash received – like money being paid to the…
Tax Manager Ben Buckner Joins Blackman & Sloop
Blackman & Sloop welcomes Ben Buckner, CPA, to their growing team as a Tax Manager. In his role, Buckner will provide innovative tax planning, review complex returns, and manage staff…
The Tax Consequences of Gig Work
Over the last decade, in particular, the definition of the term “career” has changed. Rather than being employed by a single entity for which you receive a W2 at the…
Time is Running Out to Take Your 2022 RMD
Required Minimum Distributions (RMD) are required taxable distributions from qualified retirement plans and are commonly associated with traditional IRAs, but they also apply to 401(k)s and SEP IRAs. The tax…
2022 Year-End Tax Planning for Businesses
U.S. businesses are facing pressure to drive revenue, manage costs and increase shareholder value, all while surrounded by economic and political uncertainties. Disruptions to supply chains brought about by the…
2022 Year-End Tax Planning For Individuals
With rising interest rates, inflation and continuing market volatility, tax planning is as essential as ever for taxpayers looking to manage cash flow while paying the least amount of taxes…
IRS Plans On Targeting Abusive ERTC Claims
Have you seen those ads on television or received email solicitations promoting a large tax credit? The large tax credit they are referring to is the employee retention tax credit…
Inflation Reduces Income Tax
As the country emerges from the COVID pandemic and supply chain issues, along with the fallout from the war in Ukraine, the country has been experiencing high inflation rates that…