At Brinker Simpson, we provide our clients and friends with the latest and most critical business information available. We strive to consistently share helpful guides and publications that address timely financial, tax, and general business needs.
Click here to access the Brinker Simpson blog and here to access firmwide updates.
2022 Year-End Tax Planning For Individuals
As we approach year-end, now is the time for individuals, business owners and family offices to review their 2022 and 2023 tax situations and identify opportunities for reducing, deferring or accelerating their tax obligations.
Nanette joins the Firm as a front desk receptionist, serving as the first point of contact for callers and visitors. She brings over 30 years of secretarial experience in the healthcare industry. In this new role, Nanette manages client inquiries and performs other administrative duties as needed.
This year’s open enrollment season will last from November 1, 2022, to January 15, 2023, in most states, longer in some state-based marketplaces. Even after a decade of operation, there continue to be changes in these markets.
What CFOs Need to Know About the IRS Employee Retention Credit Crackdowns
Based on recent legislation, it is clear that the IRS and Treasury Department are clamping down on fraud perpetrated by bad actors who took advantage of pandemic-related funding. After the bad actors are brought to justice, the IRS will undoubtedly focus more of its attention on businesses that took advantage of these funding packages.
Learn When and Why You Should Outsource Your Accounting
Outsourcing a major area of the business, like accounting, will certainly benefit your clients. Without having to juggle the burden of accounting with other areas of the business, focus can be aimed toward growing, selling your product or services, and tending to clients and customers to build lasting relationships that keep the business going.
IRS Waives 50% Penalty For Missed 2021 & 2022 RMDs Within 10-Year Period
The IRS says that a penalty on missed RMDs within the 10-year term will not be imposed until 2023 at the earliest. If a beneficiary already paid the penalty for a missed 2021 RMD, the beneficiary can request a refund from the IRS.
If you’re 50 or older, there is one benefit to reaching this milestone that you may be overlooking: tax breaks aimed right at you. Now you can contribute more to your Roth or traditional individual retirement account (IRA), to your employer-sponsored plan or to your health savings account (HSA) than you could when you were younger. You can even exclude more income from your tax computations.
The Brinker Simpson Annual Frank Baldino Food Drive
The Brinker Simpson Annual Frank Baldino Food Drive is underway and will run thru Monday, December 5th. Anyone interested in contributing, please drop off your donation during regular business hours at 1400 N Providence Road, Rosetree Building 2, Suite 2000E, Media, PA 19063.
Our firm provides the information in this e-newsletter for general guidance only and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.