New Client Stories – The Multi-Location Beverage Chain

I have a new client who’s also a long-term reader that recently brought their business to us. We looked at the 2024 returns and found some red flags. The client has multiple LLC’s; one for each of their locations in the city and one for a manufacturing...

I Pledge Allegiance…

The Senate Version of the Tax Bill has been presented to the House to be voted one. Soon thereafter, five House Republicans objected, stating that they wouldn’t vote for the bill given the deficit it would create and other difficulties. The GOP can only lose...

Changes To The Senate Version Of The Tax Bill

The US Senate is currently voting on the new tax bill. After a month of backroom discussions, the following are some of the highlights to the current version. This is by no means an exhaustive list. I just picked out the provisions that seemed to be most applicable to...

IRS Criminal Investigations Division Found Wasting Money

Yesterday, the Treasury Inspector General for Tax Administration (TIGTA) released a report showing that from fiscal years 2019 to 2023, The Criminal Investigation Division (CID) of the IRS had a budget increase of $201 million (35%). Staffing levels at the agency also...

The Free $1,000 Trump Savings Account

The One, Big Beautiful Tax Bill includes a provision that would give each of your children born between 2025 and 2028 $1,000. That’s right. You heard it here first. President Trump wants to give your kids a G-Note. In order to qualify, each parent must have a...

Tax Cuts + Tariffs = Wash For Overall Economy

Some math came out over the weekend that’s rather interesting. It’s been widely reported by the Nonpartisan Congressional Budget Office that the New, Big Beautiful Bill would increase our nation’s deficit by $2.4T over the next 10 years if passed in...

Initial Tax Planning For 2025

I’ve received several telephone calls in reference to Tax Planning for this year so I thought that I’d address a few issues. May and June are traditionally the time when we begin the process for the upcoming season, so it’s not any sort of a surprise...