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SECURE 2.0 law may make you more secure in retirement
A new law was recently signed to help Americans save more for retirement, although many of the provisions don’t ...
What do the 2023 cost-of-living adjustment numbers mean for you?
The TCJA suspended personal exemptions through 2025. However, it nearly doubled the standard deduction, indexed annually for inflation through 2025. For 2023, the standard deduction will be $27,700 (married couples filing jointly), $20,800 (heads of households), and $13,850 (singles and married couples filing separately). After 2025, standard deduction amounts are scheduled to drop back to the amounts under pre-TCJA law unless Congress extends the current rules or revises them.
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 ...
2022 Year-End Tax Planning Strategies
As the year comes to a close, there are still a few weeks to maximize your tax-saving strategies. Here are some reminders and options as you plan your year-end and look forward to 2023.
Hurricane Ian and Personal Property Losses
The recent hurricane crisis in Florida has impacted several of us and devastated some families. As we try to cope ...
Act Now To Reduce Your Business’s 2022 Tax Bill
It’s been a tumultuous year for many businesses, and the current economic climate promises more uncertainty for ...
Topel Forman Awarded Top Workplace 2022
Topel Forman Named Top Workplace
Chicago, IL (November 2022) —Topel Forman is proud to announce we've been ...
The Inflation Reduction Act: what’s in it for you?
You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future, it contains, extends, and modifies many climate and energy-related tax credits that may interest individuals.
Evaluating an ESOP from a succession planning perspective
Strictly defined, an ESOP is considered a retirement plan for employees. But it can also play a role in succession planning by facilitating the transfer of a business to the owner’s children or employees over a period of years in a tax-advantaged way.
Benefit From The Purchase of An Electric Vehicle
The law states that additional guidance will be issued before December 31, 2022. However, the current law has several additional provisions that take effect on January 1, 2023. It includes credits for preowned electric vehicles, changes to how the credits are calculated, bifurcations between mineral and battery requirements, and other limitations.
Topel Forman LLC Ranked Among INSIDE Public Accounting’s Best of the Best Firms
Topel Forman LLC was recently named one of the country’s top 200 accounting firms by INSIDE Public Accounting (IPA). The publication ranked Topel Forman as the 169th largest accounting firm in the U.S., and a 2022 Best of the Best Firm.
Crypto Currency Is Not Subject To Wash Sale Rules
However, crypto is viewed as property, and the wash sale rules do not apply. The build back better bill was going to include a provision to expressly address this and have crypto fall under these provisions (or something similar) however, the bill did not become law.
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SECURE 2.0 law may make you more secure in retirement
A new law was recently signed to help Americans save more for retirement, although many of the provisions don’t ...
What do the 2023 cost-of-living adjustment numbers mean for you?
The TCJA suspended personal exemptions through 2025. However, it nearly doubled the standard deduction, indexed annually for inflation through 2025. For 2023, the standard deduction will be $27,700 (married couples filing jointly), $20,800 (heads of households), and $13,850 (singles and married couples filing separately). After 2025, standard deduction amounts are scheduled to drop back to the amounts under pre-TCJA law unless Congress extends the current rules or revises them.
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 ...
2022 Year-End Tax Planning Strategies
As the year comes to a close, there are still a few weeks to maximize your tax-saving strategies. Here are some reminders and options as you plan your year-end and look forward to 2023.
Hurricane Ian and Personal Property Losses
The recent hurricane crisis in Florida has impacted several of us and devastated some families. As we try to cope ...
Act Now To Reduce Your Business’s 2022 Tax Bill
It’s been a tumultuous year for many businesses, and the current economic climate promises more uncertainty for ...
Topel Forman Awarded Top Workplace 2022
Topel Forman Named Top Workplace
Chicago, IL (November 2022) —Topel Forman is proud to announce we've been ...
The Inflation Reduction Act: what’s in it for you?
You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future, it contains, extends, and modifies many climate and energy-related tax credits that may interest individuals.
Evaluating an ESOP from a succession planning perspective
Strictly defined, an ESOP is considered a retirement plan for employees. But it can also play a role in succession planning by facilitating the transfer of a business to the owner’s children or employees over a period of years in a tax-advantaged way.
Benefit From The Purchase of An Electric Vehicle
The law states that additional guidance will be issued before December 31, 2022. However, the current law has several additional provisions that take effect on January 1, 2023. It includes credits for preowned electric vehicles, changes to how the credits are calculated, bifurcations between mineral and battery requirements, and other limitations.
Topel Forman LLC Ranked Among INSIDE Public Accounting’s Best of the Best Firms
Topel Forman LLC was recently named one of the country’s top 200 accounting firms by INSIDE Public Accounting (IPA). The publication ranked Topel Forman as the 169th largest accounting firm in the U.S., and a 2022 Best of the Best Firm.
Crypto Currency Is Not Subject To Wash Sale Rules
However, crypto is viewed as property, and the wash sale rules do not apply. The build back better bill was going to include a provision to expressly address this and have crypto fall under these provisions (or something similar) however, the bill did not become law.
No results found.
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