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FBAR & FATCA

FBAR & FATCA

ABOUT THE AUTHOR: Matt is an Enrolled Agent (EA) with more than 10 years of experience in public accounting. He graduated from Excelsior College in 2007 with a bachelor’s degree in accounting. Matt initially started his career with the Internal Revenue Service as a...

New 529 to Roth IRA Transfer Rule

New 529 to Roth IRA Transfer Rule

The Secure Act 2.0 introduced some important new benefits for 529 plans. Qualified accounts can roll over up to $35,000 from a 529 plan to a Roth IRA beginning in 2024. There are some important restrictions to the transfer. In addition, there are some unanswered...

Mega Backdoor Roths

Mega Backdoor Roths

Have you received a windfall from vested Restricted Stock Units (RSUs) or Nonqualified Stock Options (NQSOs) this year? You might consider turbo charging your retirement savings this year from a Mega Backdoor Roth IRA. So how does this strategy work, and is it...

Electric Car Credits – 2023 Edition

Electric Car Credits – 2023 Edition

Tax credits for electric vehicles aren’t a new thing. Actually, the first credits appeared all the way back in 2005 with the Energy Policy Act. There have been numerous changes since then to tax credit rules and regulations. In fact, there are TWO sets of rules for...

Claiming Ordinary Losses for Sec 1244 Stock

Claiming Ordinary Losses for Sec 1244 Stock

Section 1244 of the Internal Revenue Code provides an interesting benefit - ordinary loss treatment for the sale of stock. Generally losses (and gains) are subject to lower capital gain tax rates. This is a great thing when you’re selling stock for a gain. Not so much...

How the Corporate Transparency Act Will Impact Your Business

How the Corporate Transparency Act Will Impact Your Business

Want to learn how to avoid a $500 per DAY late filing penalty that will impact most US-based businesses? Read on, dear friends, to find out how the Corporate Transparency Act will impact your business.  Corporate Transparency Act Legislation Back in 2020, Congress...

Protect Your Stock Options in a Layoff

Protect Your Stock Options in a Layoff

With reports of up to 100,000 jobs lost in the tech industry in early 2023, you may be wondering - “What happens to my equity compensation if I am separated from employment?” In a sudden layoff, emotions can run high. It’s easy to make big mistakes with your stock...

It’s April 18th, Do You Know Your Tax Bill…For 2023?

It’s April 18th, Do You Know Your Tax Bill…For 2023?

It’s Tax Deadline day for your 2022 return. While April 18th is a Big Deal in the tax world, it’s not for the reason you think. At least not for our clients. First off, all our clients received extensions on their returns this year. Once the final numbers are in, we...

Stock Option Tax Surprises and How to Avoid Them

Stock Option Tax Surprises and How to Avoid Them

As we near the April 18th filing deadline, some of our tax clients are in for a surprise. Not an April Fools’ surprise, mind you. But not a fun surprise, nonetheless...stock option tax surprises! Every year my team passes along stories of clients that were surprised...

Deep Dive Into ISOs

Deep Dive Into ISOs

Incentive stock options (ISOs) are a powerful wealth-building tool. They can provide an opportunity to lock into your company’s growth potential early then reward you with future tax breaks. Let's take a deep dive into ISOs and learn everything you ever wanted to know...

California Disaster Relief and What It Means for Tax Deadlines

California Disaster Relief and What It Means for Tax Deadlines

New tax deadlines announced for California disaster relief. Recently the IRS and California finalized new rules for tax deadlines for much of the state of California. Deadlines for filing and payment have been extended for the following counties: From the IRS tax...

Download our free guide – Top 5 Big Tax Mistakes to avoid with Stock Options

thumb-placeholderAs a Certified Public Accountant, John is passionate about helping families make great tax decisions!

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