The Internal Revenue Service (IRS) has announced a moratorium on new claims related to the pandemic-era Employee Retention Credit (ERC, also known as Employee Retention Tax Credit). The pause on new claims goes into effect immediately and will last until at least 2024. When claimed properly,...
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On Wednesday, June 14, the Federal Reserve announced a pause in interest rate hikes for the first time since March 2022. The decision comes after promising economic indicators show that relief from historic inflation may be coming. Inflation Falls from Peak In a good sign for consumers,...
Read MoreIf you are a grandparent there are several things, you can do to teach your grandchildren financial responsibility and set aside money for their future education and retirement. Before we get into actual suggestions, it is important that you understand the gift tax rules. You...
Read MoreThis credit goes all the way back to 2006, providing a tax credit for making energy-saving improvements to a taxpayer’s home. This tax benefit was supposed to expire after 2021 but a law change has given the credit renewed life and substantially enhanced it beginning...
Read MoreIf you had to make a list of people who changed the world essentially just by existing, Henry Ford's name would likely be on it. Most people know him from history as the founder of the (appropriately named) Ford Motor Company. Here, he developed the assembly...
Read MoreAccording to one recent study, workers who make up the "gig economy" contributed roughly 5.7% to the gross domestic product of the United States in 2021 alone. If you needed a single statistic to help underline what a significant shift this has become in the...
Read MoreIf you had to make a list of all the things that most business owners hate, taking care of accounting and other financial matters is probably right at the top. Yet at the same time, a lot of those same business owners are struggling. Maybe they...
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Most of the time an expense that may be tax deductible needs to be paid by the end of the year for which the expense will be claimed. However, there is an exception to that rule. IRA contributions for the prior year can be made...
Read MoreHCJ CPAs & Advisors PLLC is pleased to announce the addition of James Churchwell to their professional team. Churchwell joins the firm as IT Manager. A professional in the field since 2005, he brings nearly 20 years of experience to the firm. “We are so excited to...
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If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you do know about but are ignoring. Either situation can come back to bite you. When...
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