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Featured Articles & Tax Tips Blog

Welcome to the CPA Advisory Group’s Featured Articles Blog. Here we share tax and accounting news and tips for our clients on a regular basis. Please feel free to suggest ideas for topics you would like to see addressed, by dropping an email to info@cpaagi.com. Enjoy the articles and subscribe to our newsletter for periodic email updates.

IRS reminds taxpayers to prepare for natural disasters

IRS reminds taxpayers to prepare for natural disasters

From the IRS —  September is National Preparedness Month. With the peak of hurricane season just ahead, the Internal Revenue Service reminds taxpayers to develop an emergency preparedness plan or, if they already have one, to update it for 2023. Taxpayers can begin...

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Self-employed have quarterly tax payments due in September

Self-employed have quarterly tax payments due in September

From The Ascent — By Maurie Backman — Self-employment can really be a mixed bag. On the one hand, it's nice to set your own hours and, in some cases, work from anywhere. On the other hand, being self-employed means grappling with an income that might vary...

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Mid-year tax planning checklist notes

Mid-year tax planning checklist notes

From Forbes — By Sean Hanlon — 2023 Federal Tax Forms 1099-DIV – Reports ordinary and qualified dividends and short- and long-term capital gains distributions for taxable and tax-exempt accounts. 1099-B – Reports exchange and redemption activity in non-IRA...

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Taxpayers see wave of summer email, text scam schemes

Taxpayers see wave of summer email, text scam schemes

From the IRS — IRS urges extra caution with flood of scams involving Economic Impact Payments, Employee Retention Credits and tax refunds WASHINGTON — The Internal Revenue Service warned taxpayers today to be on the lookout for a summer surge of tax scams as identity...

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Tips for taxpayers on National Get Out Of The Doghouse Day

Tips for taxpayers on National Get Out Of The Doghouse Day

From Forbes — By Kelly Phillips Erb — Are tax troubles on your mind? Monday was National Get Out Of The Doghouse Day. Why not take advantage of the opportunity to clean up your finances and resolve your tax issue? Getting started now will help get you out of the...

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Here’s your new standard deduction and tax rate for 2023

Here’s your new standard deduction and tax rate for 2023

From Money Talks News — By Karla Bowsher — The federal government regularly adjusts everything from Social Security benefits to retirement account limits to account for inflation. The same goes for some key aspects of federal income taxes, including the standard...

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Boost your tax strategy with asset purchases

Boost your tax strategy with asset purchases

From Forbes.com — By Vlad Rusz — When you have a profitable year, you might be looking at ways to decrease your taxable income, and thus your taxes. There are many ways to achieve this, and many business owners come across advice to “just buy some assets,” especially...

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Moore: A wealth-tax watershed moment for Supreme Court

Moore: A wealth-tax watershed moment for Supreme Court

From the Wall Street Journal by its Editorial Board — June 27, 2023 — The Justices will hear Moore v. U.S., which asks if ‘income’ under the law can be an unrealized gain. The Supreme Court is set to finish another consequential term this week, and on Monday the...

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FTC creates tools for cyber-attack security

FTC creates tools for cyber-attack security

From the Pinnacle CPA Advisory Group and the FTC — The Federal Trade Commission has developed a series of guides and publications to help business owners protect their organizations from cyber attacks and hacking. The FTC’s Cybersecurity Resources were developed in...

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House committee proposes standard deduction increase

House committee proposes standard deduction increase

From Accounting Today — By Michael Cohn —  Republicans on the House Ways and Means Committee advanced a series of bills Tuesday, June 13, aimed at reducing taxes but also rolling back parts of the Inflation Reduction Act passed by the Democrats last year. One of the...

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