by Joyce Kandt | Mar 22, 2023 | tax
The Farm Bill The Agricultural Improvement Act of 2018 (the Farm Bill) made cannabis-derived products such as industrial hemp and CBD (cannabidiol) legal at the federal level as long as it did not exceed 0.3% THC (tetrahydrocannabinol). Cannabis products below the... 
by Alana Syrian | Feb 1, 2023 | tax
Many founders decide to incorporate their business in the State of Delaware, often at the advice of corporate attorneys and investors. While the corporation may not have an income tax imposed simply for incorporating in the state, the corporation remains subject to... 
by Sara Raby | Feb 1, 2023 | tax
There have been many changes to credits over the last few years; especially Covid related tax credits. Here is what is currently applicable to the 2023 tax year. Child and Dependent Care Tax Credit – the temporary increase in childcare expenses amount for the... 
by Sara Raby | Jan 31, 2023 | tax
In late December 2022, the SECURE Act 2.0 was passed. SECURE stands for Setting Every Community Up for Retirement Enhancement and this act is predominantly focused on enhancements to retirement programs. Catch Up Contributions For taxpayers 50 years and above, catch... 
by Cory Carroll | Jan 31, 2023 | tax
Small business owners are excited to kick-start their businesses and start generating revenue, but often miss opportunities to document and claim ordinary and necessary business expenses as tax deductions. Below are some of the most common expenses that small... 
by Sara Raby | Jan 31, 2023 | tax
Recent legislation (the Inflation Reduction Act of 2022 or IRA 2022) updated the requirements related to electric vehicle purchases made after August 16, 2022. As a refresher, taxpayers may qualify for a federal income tax credit up to $7,500 for the purchase of a... 