Alex Schreiber 12/21/21 Alex Schreiber 12/21/21

2021 Tax Year in Review

After another rollercoaster of a year, now is a good time to consider the tax changes affecting 2021. The most significant changes for individuals came from American Rescue Plan Act enacted in March 2021 and the Consolidated Appropriations Act that was passed in December 2020.

Alex Schreiber 12/6/21 Alex Schreiber 12/6/21

6 Year-End Tax Strategies to Reduce Your 2021 Tax Bill

With just a few weeks remaining in 2021, time is running out on these year-end tax planning strategies.

Alex Schreiber 11/1/21 Alex Schreiber 11/1/21

PA State Senate Approves Small Business Tax Reform

Senate Bill 349 would increase the state limit for property that may be treated as a deductible expense in calculating personal income tax from $25,000 to $1,050,000. This provision is related to the commonly known Section 179 deduction available for many taxpayers on their federal income tax returns.

Alex Schreiber 10/6/21 Alex Schreiber 10/6/21

Tax Changes for Crypto Investors

In another recent development, the IRS Chief Counsel’s office issued Advice 202124008, which states that exchanges of bitcoin for certain other crypto assets did not qualify for gain nonrecognition as like-kind exchanges under Section 1031.

Alex Schreiber 9/15/21 Alex Schreiber 9/15/21

You’ve Received a Notice From the IRS. Now What?

Getting an IRS notice in the mail can be scary and overwhelming. But, they often aren’t the catastrophe they may initially seem to be, and careful handling can resolve the issue quickly and painlessly.