Insights
Planning for Elder Care
By: Layne Blasingim, CPA What is it? When planning for elder care you must focus on the quality of life the older individual wants to have. Acute and long-term care, surrogate decision-making plans in the event of incapacity, housing and preserving the assets of a loved one are all items that must be planned for.…
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Paperwork you can toss after filing your tax return
Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain records. You may have to produce those records if the IRS audits your return or seeks to assess tax. It’s a good idea to keep the actual returns indefinitely. But…
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Crypto Taxes
The IRS recently issued a reminder that all taxpayers must answer, either “Yes” or “No”, a digital asset question and report all digital asset-related income when they file their 2022 federal income tax return, as they did for fiscal year 2021, regardless of whether they engaged in any transactions. The term “digital assets” has replaced “virtual currencies,” a term used in previous years.
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West Virginia’s Largest Locally Owned CPA Firm Celebrates 50 Years
Suttle & Stalnaker, PLLC, a full-service certified public accounting and consulting firm with offices in West Virginia, will celebrate 50 years of serving clients in and around the Mountain State in 2023. Suttle & Stalnaker, PLLC opened its doors in 1973 at the 4000 block of MacCorkle Avenue in Charleston, founded by Wallace F. “Jack”…
Read MoreIs Resignation Now Remorse?
After the Great Resignation, when more US workers quit their jobs than ever, over 70% of 2,000 workers who had resigned told a Harris poll that it was harder to find a good job than they had expected. More than a third of those who had found a new job said they regretted quitting, their…
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Changes in Sec. 174 make it a good time to review the R&E strategy of your business
It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the law have expired or will expire in the next few years. One provision that took effect last year was the end of current deductibility for research and experimental…
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2023 limits for businesses that have HSAs — or want to establish them
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs. Here are the key tax benefits:
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2023 Q2 tax calendar: Key deadlines for businesses and employers
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing…
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3 ways your business can uncover cost cuts
Every business wants to find them, but they sure don’t make it easy. We’re talking about cost cuts: clear and substantial ways to lower expenses, thereby strengthening cash flow and giving you a better shot at strong profitability.
Read MoreNew Protections for Pregnant and Nursing Workers in 2023
As part of the federal omnibus spending bill, President Joe Biden recently signed into law the Pregnant Workers Fairness Act (PWFA) and the Providing Urgent Maternal Protections for Nursing Mothers Act (PUMP Act), expanding federal protections for both pregnant and nursing workers. Pregnant Workers Fairness Act The PWFA creates a legal obligation for employers to…
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