Blog - Rose Snyder & Jacobs LLP

The Mid-Year Review: Your Secret Weapon (Now That Everything Is Uncertain)

Let's face it: Waiting until December to check your business's financial pulse is like waiting for your engine to seize before checking the oil. In this economy?…

How to Choose the Perfect Business Entity for Your Venture

Choosing the right business entity is a critical decision for entrepreneurs and business owners. The type of entity you select can have significant implications for…

Spring Clean Your Business Finances: 7 Tips to Improve Cash Flow and Cut Costs

Spring isn’t just for closets. It’s for your business finances too. And just like you wouldn’t leave last year’s mismatched socks sitting in your drawer, you…

The Retirement Tax Surprise: What Boomers Need to Know Before It’s Too Late

You did it. You worked hard, saved consistently, and now you're either enjoying retirement—or it's just around the corner. You’ve been told for years to…

Zero-Based Budgeting: The Bold Way to Stop Wasting Money and Start Growing

Picture this: You’re hunched over last year’s budget, crossing out line items you think you can live without. And then what happens? The same stuff makes it…

Unveiling the Hidden Costs: How Non-Compliance in Foreign Asset Reporting Could Lead to Substantial Penalties

In an increasingly globalized world, many U.S. taxpayers find themselves with financial interests or assets located outside the United States. Whether through inheritance, investment, or…

Tax Implications of Downsizing: What Baby Boomers and Gen X Need to Know

Remember when “downsizing” was something you did to your closet every spring? Now, it’s a buzzword for a major financial move: selling the big family…

Discover How Millions Track Their Tax Refunds Online Instantly!

The "Where’s My Refund" tool is accessible via the IRS website and the IRS2Go mobile app. It provides personalized refund information based on the processing of…

Tax Time Has Arrived! Tips for Getting Ready for Your Tax Appointment

You, like most taxpayers, probably dread the task of pulling together your records to prepare for your tax preparation appointment, but the effort usually pays…

Supreme Court Lifts Nationwide Injunction on BOI Reporting

BREAKING NEWS On Thursday January 23, 2025, the Supreme Court issued a stay on a nationwide injunction that had previously halted the enforcement of beneficial…

Navigating the Aftermath: Understanding Disaster Loss Tax Provisions for Homeowners Affected by Disasters

In recent years, wildfires, hurricanes, and other natural disasters have become increasingly frequent and devastating, leaving many individuals and families grappling with the loss of…

Due Dates

INDIVIDUAL DUE DATES May 12 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in…

How to Prepare for Your Year-End Financial Review: A Guide for SMBs

As the year draws to a close, it’s time to take stock of your business’s financial health. A year-end financial review isn't just a box…

Navigating the Tax Complexities of Hiring Household Employees

Household employees play a crucial role in many homes, providing essential services such as childcare, eldercare, housekeeping, and gardening. However, employing household help comes with…

Maximizing Your Retirement Savings: Strategies for Late Starters

As a baby boomer, you may find yourself approaching retirement with less savings than you'd hoped. Whether due to economic fluctuations, personal circumstances, or simply…

Don’t Leave Money on the Table: Essential Tax Credits You Might Be Missing

Tax preparers often encounter clients who are confused about the various tax credits available to them. Understanding these credits can significantly impact your tax liability…

Navigating the Corporate Transparency Act: Essential Insights and Compliance Reminder for SMBs

As the deadline for compliance with the Corporate Transparency Act (CTA) approaches, small and medium-sized businesses (SMBs) must remain vigilant. This legislative milestone, aimed at…

Surprising Tax Impact of Converting Your Traditional IRA to a Roth IRA

Taxpayers are limited in the annual amount they can contribute to a Roth IRA. The maximum contribution for 2024 is $7,000 ($8,000 if age 50…

IRS Highlights New Warning Signs for Businesses Regarding the Employee Retention Credit

In the wake of the COVID-19 pandemic, the Employee Retention Credit (ERC) emerged as a vital financial lifeline for businesses. However, as the IRS intensifies its scrutiny…

October Due Dates

INDIVIDUAL DUE DATES October 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in…