Entries by IslerNW

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Understanding Designated Roth Accounts: Benefits, Contributions, Distributions, and Tax Implications

Article Highlights: Introduction What is a Designated Roth Account? Benefits of Designated Roth Accounts Contribution Limits Catch-Up Contributions Reasons for Increased Limits Treatment of Distributions Tax Treatment Considerations and Issues Compelling Retirement Saving Strategy In the realm of retirement savings, the designated Roth account stands out as a unique option that offers tax-free growth and […]

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How the One Big Beautiful Bill Act Transforms R&E Tax Strategies for Businesses

Article Highlights: One Big Beautiful Bill Act What Constitutes R&E Expenses R&E Expensing– A Short History R&E Expensing After the OBBBA Domestic vs. Foreign Differentiation Options to Accelerate Expenses Currently Being Amortized Retroactive Expensing via Amended Returns Interplay With Other Tax Provisions Research and Experimental (R&E) expenditures are critical components of innovation and development within […]

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Tax Ramifications for Scam Victims

Article Highlights: Transactions With a Profit Motive Eligibility Criteria for Profit-Driven Casualty Losses Profit Motive Type of Transaction Nature of Loss Application of IRS Guidance Some Not So Good Tax Ramifications Examples Navigating the tax implications of scams and theft losses can be complex, especially considering legislative changes that generally limit casualty and theft losses […]

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Important January 2026 Due Dates

January 2026 Individual Due Dates January 2 – Time to Call For Your Tax Appointment – January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you to do so before the calendar becomes too crowded. January 12 – Report Tips to Employer – […]

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Year End Stock Strategies for Savvy Investors

Article Highlights: Annual Loss Limit Navigating Wash Sale Rules Recognizing Year-End Gains and Losses Donating Appreciated Securities Managing Employee Stock Options Dealing with Worthless Stock Leveraging the Zero Capital Gain Rate Netting Gains and Losses As the year draws to a close, taxpayers with substantial stock holdings have a unique opportunity to engage in strategic […]

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Tax Time is Around the Corner! Are You Ready?

Article Highlights: Time to Gather Your Information New for 2025 Choosing Your Alternatives Tips for Pulling Your Information Together Tax time is just around the corner, and if you are like most taxpayers, you are probably facing the ominous chore of compiling records in preparation for your tax appointment—whether in person, by videoconference or telephone. […]

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Maximizing Business Deductions: An Introduction to Depreciation, Amortization, and Expensing

Article Highlights: MACRS Depreciation Bonus Depreciation Section 179 Expensing Amortization Materials and Supplies Expensing The De Minimis Safe Harbor Rule Expensing Routine Maintenance Expensing Per Building Safe Harbor for Small Taxpayers Expensing In the intricate world of business accounting and taxation, the ability to strategically deduct expenses can significantly impact a company’s financial health and […]

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Your Annual Reminder to File Worker 1099s

Article Highlights: 1099-NEC Filing Requirements Filing Due Date Independent Contractor Filing Threshold Landlords Additional Filing Requirements Form W-9 Household Workers Penalties Endeavors to Mitigate Penalties Worksheet This is our annual reminder that if you use workers other than employees to perform services for your business and pay them $600 or more for 2025, you are […]

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Why an LLC?

Article Highlights: The Purpose and Function of an LLC Pros and Cons of Choosing An LLC Advantages Disadvantages Does an LLC Need Liability Insurance?    Does an LLC Provide Protection Nationally? When to Choose an LLC The Path Forward: Making an Informed Decision An LLC (Limited Liability Company) is a flexible business structure that creates […]