Once you file your 2022 tax return, you may wonder how long you should store tax returns, statements, and supporting documents. Tax record retention periods … [Read more...]
What’s in the Fiscal Responsibility Act?
June 7, 2023 by Brett Aamot
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal … [Read more...]
Traveling for business this summer? Here’s what you can deduct
June 7, 2023 by Jim Rudnick
If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax law, in order to claim … [Read more...]
Use the tax code to make business losses less painful
June 7, 2023 by Jeff Rislov
Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to … [Read more...]
Many tax limits affecting businesses have increased for 2023
June 6, 2023 by Jennifer Lownsbury
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are … [Read more...]
4 tax challenges when considering retirement
June 5, 2023 by Larry Stulen
Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a … [Read more...]
Ways to Make Filing Faster and Easier in 2024
May 22, 2023 by Jim Rudnick
At CDS, we see firsthand the challenges businesses and individuals face at tax time. The filing process can be complex and time-consuming, and even the smallest … [Read more...]
The IRS has just announced 2024 amounts for Health Savings Accounts
May 22, 2023 by Nicholle Peterson
The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA fundamentals An HSA is a trust … [Read more...]
Social Security’s Future
May 19, 2023 by Jeff Rislov
Recent reports have raised new concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has … [Read more...]
Improve Next Year’s Tax Situation Now!
May 16, 2023 by Mitchell Erickson
Whether you receive a big refund or pay your taxes on tax day, taking action now can ensure next year’s tax bill is optimized by not paying a dollar more than … [Read more...]
