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ALERTS AND ARTICLES
Stay up to date with the most recent industry news and what’s happening at Topel Forman
Tax breaks for tipped workers: qualifying for the new deduction
Discover how the groundbreaking "no tax on tips" provision in the new One, Big, Beautiful Bill (OBBBA) could transform the take-home pay for millions of tip-reliant workers starting in 2025. Learn which occupations qualify, the specific conditions required, and how to prepare for maximized savings under this potentially game-changing deduction.
A financial guide for heirs navigating inherited assets
Inheriting assets involves complex tax rules and time-sensitive decisions that can impact your financial outcome. This guide covers what heirs need to know about real estate, retirement accounts, and other inherited assets.
Attribution rules explained: how constructive ownership can affect your tax strategy
You may think you don't own a particular business interest, but the IRS might disagree. Under constructive ownership rules, the tax code can attribute ownership to you based on family relationships or entity structures. Understanding these rules before they impact your tax strategy is essential for business owners with family ties, trusts, or complex ownership structures.
Final regulations released on increased catch-up contributions under SECURE 2.0
The latest IRS final regulations under the SECURE 2.0 Act increase catch-up contribution limits for individuals aged 60 to 63 and require Roth contributions for higher-income earners. These changes aim to enhance retirement readiness but require plan administrators to navigate new operational complexities. Explore how these rules reshape retirement strategies and the paths to compliance.
Preparing for the end of federal paper checks
Executive Order 14247 directs federal agencies to phase out paper checks for refunds, benefits, and contracts. Here’s who’s affected and how to prepare.
Partnership distribution rules and complexities
Explore the intricacies of partnership distributions and uncover how they offer flexibility in profit allocation while presenting unique tax considerations. Delve into the fundamental principles, exceptions, and strategic approaches that can affect your tax outcomes and ensure seamless operations. Discover why clear agreements and professional guidance are crucial in navigating these complex regulations.
Critical updates on energy credits
The One Big Beautiful Bill Act (OBBBA) is changing the landscape of energy tax credits by accelerating expiration dates, leaving homeowners, businesses, and car buyers scrambling to capitalize on incentives for renewable energy and clean vehicles. This article covers several upcoming deadlines for anyone planning energy-efficient upgrades or investments.
Best Practices to Enhance Dealership Accounting Processes: A CPA’s Guide To Navigating Internal Controls
By adopting modern systems and methods, your dealership can stay both secure and competitive. Traditionally, dealerships have relied on paper-based methods for processing payables and receivables. Transitioning to an automated accounts payable system streamlines the process, allowing invoices to be scanned, matched, and approved digitally. In this most we make some observations of processes dealerships can improve to improve efficiencies and workflow.
Residency and Non-residency Navigating State Individual Income Tax Rules
Join us to learn more about state estate taxes, emphasizing how they differ from federal estate taxes and the importance of understanding state-specific rules.
The Significance of Effective Internal Controls in Dealerships: A CPA’s Guide To Navigating Internal Controls
In the midst of the busy environment of running a dealership, the risk of financial missteps — from accounting errors to out-and-out fraud — can sometimes go unnoticed. ffective internal controls are essential for dealerships intent on preserving their financial integrity, preventing costly errors and fraud, and building a culture of transparency. In this post we lay our several recommended procedures that can help prevent mistakes and protect against fraud.
The New 0.5% Charitable Floor: Why 2025 Is a Key Year for Giving
With the 0.5% charitable floor taking effect beginning in tax year 2026, 2025 represents the last opportunity for taxpayers to maximize the deductibility of their charitable gifts under the current rules, which has no such charitable deduction floor.
Topel Forman Remains on Inside Public Accounting’s Top 200 Firms List
Topel Forman has retained its spot on Inside Public Accounting's Top 200 Firms list, reflecting its commitment to exceptional client service. The firms commitment to it's values including excellence, integrity and client service supports the firm's growth.
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Tax breaks for tipped workers: qualifying for the new deduction
Discover how the groundbreaking "no tax on tips" provision in the new One, Big, Beautiful Bill (OBBBA) could transform the take-home pay for millions of tip-reliant workers starting in 2025. Learn which occupations qualify, the specific conditions required, and how to prepare for maximized savings under this potentially game-changing deduction.
A financial guide for heirs navigating inherited assets
Inheriting assets involves complex tax rules and time-sensitive decisions that can impact your financial outcome. This guide covers what heirs need to know about real estate, retirement accounts, and other inherited assets.
Attribution rules explained: how constructive ownership can affect your tax strategy
You may think you don't own a particular business interest, but the IRS might disagree. Under constructive ownership rules, the tax code can attribute ownership to you based on family relationships or entity structures. Understanding these rules before they impact your tax strategy is essential for business owners with family ties, trusts, or complex ownership structures.
Final regulations released on increased catch-up contributions under SECURE 2.0
The latest IRS final regulations under the SECURE 2.0 Act increase catch-up contribution limits for individuals aged 60 to 63 and require Roth contributions for higher-income earners. These changes aim to enhance retirement readiness but require plan administrators to navigate new operational complexities. Explore how these rules reshape retirement strategies and the paths to compliance.
Preparing for the end of federal paper checks
Executive Order 14247 directs federal agencies to phase out paper checks for refunds, benefits, and contracts. Here’s who’s affected and how to prepare.
Partnership distribution rules and complexities
Explore the intricacies of partnership distributions and uncover how they offer flexibility in profit allocation while presenting unique tax considerations. Delve into the fundamental principles, exceptions, and strategic approaches that can affect your tax outcomes and ensure seamless operations. Discover why clear agreements and professional guidance are crucial in navigating these complex regulations.
Critical updates on energy credits
The One Big Beautiful Bill Act (OBBBA) is changing the landscape of energy tax credits by accelerating expiration dates, leaving homeowners, businesses, and car buyers scrambling to capitalize on incentives for renewable energy and clean vehicles. This article covers several upcoming deadlines for anyone planning energy-efficient upgrades or investments.
Best Practices to Enhance Dealership Accounting Processes: A CPA’s Guide To Navigating Internal Controls
By adopting modern systems and methods, your dealership can stay both secure and competitive. Traditionally, dealerships have relied on paper-based methods for processing payables and receivables. Transitioning to an automated accounts payable system streamlines the process, allowing invoices to be scanned, matched, and approved digitally. In this most we make some observations of processes dealerships can improve to improve efficiencies and workflow.
Residency and Non-residency Navigating State Individual Income Tax Rules
Join us to learn more about state estate taxes, emphasizing how they differ from federal estate taxes and the importance of understanding state-specific rules.
The Significance of Effective Internal Controls in Dealerships: A CPA’s Guide To Navigating Internal Controls
In the midst of the busy environment of running a dealership, the risk of financial missteps — from accounting errors to out-and-out fraud — can sometimes go unnoticed. ffective internal controls are essential for dealerships intent on preserving their financial integrity, preventing costly errors and fraud, and building a culture of transparency. In this post we lay our several recommended procedures that can help prevent mistakes and protect against fraud.
The New 0.5% Charitable Floor: Why 2025 Is a Key Year for Giving
With the 0.5% charitable floor taking effect beginning in tax year 2026, 2025 represents the last opportunity for taxpayers to maximize the deductibility of their charitable gifts under the current rules, which has no such charitable deduction floor.
Topel Forman Remains on Inside Public Accounting’s Top 200 Firms List
Topel Forman has retained its spot on Inside Public Accounting's Top 200 Firms list, reflecting its commitment to exceptional client service. The firms commitment to it's values including excellence, integrity and client service supports the firm's growth.
No results found.
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