by Steven J Weil, PhD, EA, LCAM | Oct 26, 2022 | Blog, Business Tax, Personal Tax
Tax planning is one of the best ways we know to reduce your tax bill, and at RMS Accounting we take a proactive approach to helping clients pay the lowest amount of tax allowed by law. We do this through a two-step process. Step 1 requires us to keep up to date with...
by Steven J Weil, PhD, EA, LCAM | Oct 7, 2022 | Blog, Business Tax, Personal Tax
The IRS Announced Tax Relief for Victims of Hurricane Ian in Florida on September 29, 2022. Following the recent disaster declaration issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in certain areas will receive tax...
by Steven J Weil, PhD, EA, LCAM | Oct 3, 2022 | Blog, Business Tax, Personal Tax
Changes in the Electric Vehicle Tax Credit The Inflation Reduction Act of 2022 includes changes to the credit available for electric vehicles. The changes are complex, and phase in over time. If you are in the market for an electric vehicle, we should review the new...
by Steven J Weil, PhD, EA, LCAM | Aug 31, 2022 | Blog, Business Tax, Personal Tax
Penalty Relief: IRS Notice 2022-36 The IRS has announced broad-based penalty relief for certain 2019 and 2020 returns due to the COVID-19 pandemic. The penalty relief will be automatic for people and businesses who qualify. Relief applies specifically to the failure...
by Steven J Weil, PhD, EA, LCAM | Aug 16, 2022 | Blog, Business Tax, Personal Tax
Colleges Now Allow Student Athletes to Profit from the Use of Their Name, Image, or Likeness The National Collegiate Athletic Association (NCAA) is now allowing athletes to receive compensation for the use of their name, image, or likeness (NIL). This new source of...
by Steven J Weil, PhD, EA, LCAM | Aug 9, 2022 | Blog, Business Tax, Personal Tax
Congress is funding an additional 87,000 IRS agents. These new agents will need to cut their teeth on simple cases, where for the most part taxpayers are not big enough or rich enough to fight back. This means those receiving tax credits, operating small businesses,...
