Webinar Recording | Top 10 Tax Strategies for 2022

Join PBMares on November 16 to discover the top 10 tax strategies businesses and individuals should consider before year-end, including traditional tax strategies, charitable planning, and Roth IRA conversions.

Increase in Social Security Wage Base, Wage Caps and Benefit Amounts Announced for 2023

The Social Security Administration recently announced their annual inflation changes to the Social Security wage base, annual wage cap, and benefit amounts that will be effective January 1, 2023. These 2023 inflation increases are the largest percentage increases since 1981 and the fourth-largest increase ever for the Social Security program.

2022-11-11T16:22:26-05:00November 11, 2022|Categories: Tax: Business, Tax: Individual|Tags: , |

IRS Warns of Employee Retention Credit Fraud

The IRS recently warned employers to beware of advertisements and solicitations that promise tax refunds that seem too good to be true. They promise business owners lucrative tax refunds from the Employee Retention Credit through filing amended payroll tax returns.

2023-11-01T09:29:22-04:00November 7, 2022|Categories: Tax: Business|Tags: , , |

IRS Provides Tax Relief and Tax Filing Postponement for Taxpayers in North Carolina and South Carolina due to Hurricane Ian

IRS announces new Hurricane Ian tax relief and a new February 15, 2023 tax deadline for all individuals and businesses in both North Carolina and South Carolina. 

2022-10-06T13:04:38-04:00October 6, 2022|Categories: Tax: Business, Tax: Individual|Tags: , |

New Life for Opportunity Zones?

Opportunity Zones could be getting an extension with several additional changes. Real estate investors, even those who perhaps didn’t qualify before, will want to take a second look at the second Act for Opportunity Zones.

2022-10-04T13:19:51-04:00October 4, 2022|Categories: Construction and Real Estate, Tax: Business, Tax: Credits & Incentives|Tags: , |

Amid Rising Interest Rates, the Ability to Deduct Interest Expenses Is Lower In 2022

Amid rising interest rates, the Section 163(j) business interest expense deduction has a more limited impact for real estate companies and other capital-intensive businesses starting in 2022. There are other financing strategies to mitigate the impact of the lower deduction.

2022-09-22T14:33:52-04:00September 22, 2022|Categories: Construction and Real Estate, Tax: Business, Tax: Individual|Tags: , , , |

Webinar Recording | Inflation Reduction Act Tax Law Changes

The Inflation Reduction Act was signed into law on August 16. This webinar will guide you through the significant tax law changes and how they may impact you.

2023-01-13T13:27:40-05:00August 30, 2022|Categories: Past Events, Tax: Business, Tax: Credits & Incentives|Tags: |

The Inflation Reduction Act Makes Few Alterations to the Tax Strategies of PBMares’ Clients

Today, The Inflation Reduction Act of 2022 was enacted. Through its sweeping law changes on health care, climate, and taxes, the Act presents a few new opportunities for beneficial tax strategies. In general, the Act results in few tax increases to PBMares clients.

2022-08-19T12:56:01-04:00August 16, 2022|Categories: Tax: Business, Tax: Individual|Tags: , |

Virginia School Tax Credit Program Offers 65 Percent Tax Credit to Individual and Business Donors

Virginia’s tax credit education scholarship program saw its funding fully restored in the new state budget. The EISTC program allows eligible donors to claim a 65% tax credit against five state taxes.

2022-12-21T08:40:28-05:00July 25, 2022|Categories: Not-for-Profit, Tax: Business, Tax: Individual|Tags: |

What’s Going on at the IRS? Problems and Steps to Improve Service

2021 was described as the worst year ever for the IRS. Several compounding problems, exacerbated by COVID-19, led to a historic backlog. Now, the agency is taking steps to improve service.

2022-07-19T08:34:19-04:00July 19, 2022|Categories: Employee Benefit Plans, Not-for-Profit, Tax: Business, Tax: Exempt Organizations|Tags: |
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