IRS: Tax Deducible Supplies

December 28, 2022By Smeriglio Associates LLCNews

Business owners still have a small handful of shopping days left to buy tax-deductible supplies. As you know, you can generally write off the ordinary and necessary costs of carrying on a trade or business. You may need items such as paper, envelopes, copier ink cartridges, staplers, breakroom supplies, binders, office chairs and more. Buy … Read More

How should your marketing strategy change next year?

December 27, 2022By Smeriglio Associates LLCNews

The current calendar year is winding down and a fresh 12 months lies ahead. That makes now a good time to think about how you should present yourself to customers and prospects next year. The U.S. economy has undergone notable change in 2022. Namely, rising inflation and persistent supply chain challenges have forced companies to really contemplate … Read More

IRS: Required Minimum Distributions

December 27, 2022By Smeriglio Associates LLCNews

The IRS is reminding those who were born in 1950 or earlier that they must soon begin taking required minimum distribution (RMDs) from their IRAs or other retirement plan accounts. Generally, RMDs are the minimum amounts that IRA and retirement plan account owners age 72 and older must annually withdraw from their accounts. Depending on … Read More

Year-end giving to charity or loved ones

December 21, 2022By Smeriglio Associates LLCNews

The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic tax rules involved in these transactions. Donating to charity In 2022, in order to receive a charitable donation write-off, you must … Read More

How savings bonds are taxed

December 20, 2022By Smeriglio Associates LLCNews

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how the interest you earn is taxed. And if they reach final maturity, what action do you need to take to ensure there’s no loss of … Read More

Internal Revenue Service Advisory Council

December 20, 2022By Smeriglio Associates LLCNews

The Internal Revenue Service Advisory Council (IRSAC) has released its Public Report for 2022, which includes recommendations to the IRS related to new and continuing issues in tax administration. According to the IRSAC, the report “emphasizes the need for consistent and multiyear funding for the IRS to achieve its goals of providing efficient, effective and … Read More

Reinforce your cybersecurity defenses regularly

December 19, 2022By Smeriglio Associates LLCNews

If you’ve been in business for any amount of time, you probably don’t need anyone to tell you about the importance of cybersecurity. However, unlike the lock to a physical door, which generally lasts a good long time, measures you take to protect your company from hackers and malware need to be updated and reinforced … Read More

IRS: 2022 Reminders

December 19, 2022By Smeriglio Associates LLCNews

It’s been said that a little preparation can go a long way. This certainly applies toward taxes, specifically, the upcoming 2023 tax filing season. As year-end nears, it’s a good time to round up your 2022 tax records. The IRS says that taxpayers who have all their tax documentation gathered and organized are in the … Read More

2022 – 12/08 – Tax Treaty – US and Croatia

December 17, 2022By Smeriglio Associates LLCNews

The United States and Croatia have signed a first of its kind tax treaty, according to the U.S. Treasury Dept. Key provisions include elimination of withholding tax on cross-border dividend payments to pension funds and payments of interest; and reduction of withholding taxes on cross-border payments of dividends (other than those paid to pension funds), … Read More