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News & Resources
Should You Extend Your 2022 Tax Return?
In a statement posted to its website on February 3, 2023, the IRS asked certain taxpayers to temporarily hold off on filing their 2022 returns until it could issue guidance on how to treat special tax refunds and payments made by approximately 20 states in 2022. The...
8 Reasons to Outsource Your Accounting
Many companies and organizations have found it difficult to hire the right accounting expertise at the right price in today’s tight labor market. Some organizations struggle to find qualified team members, or they cannot afford to pay the salary of someone who has the...
New Election for Pass-Through Entities Can Help Owners Bypass State and Local Tax Deduction Cap
A new election available to pass-through entities can help partners, members, and shareholders (collectively “owners”) reduce their federal taxes owed. In the spring of 2022, the Virginia General Assembly passed House Bill 1121 and Senate Bill 692, allowing certain...
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