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March 14, 2024

March 2024 Individual Due Dates

March 11- Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than March 11. Your employer is required to withhold FICA taxes and income tax withholding for… View Article

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March 2024 Business Due Dates

March 1 – Farmers and Fishermen File your 2023 income tax return (Form 1040 or 1040-SR) and pay any tax due. However, you have until April 15 (April 17 if you live in Maine or Massachusetts) to file if you paid your 2023 estimated tax by January 16, 2024. March 1 – Applicable Large Employers (ALE)… View Article

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March 10, 2024

Ross Buehler Falk & Company, LLP Expands Reach Through Majority Acquisition of Leid Lorah & Company P. C.

Lancaster, PA— Ross Buehler Falk & Company, LLP, a leading public accounting and business advisory firm, is pleased to announce the acquisition of a majority interest in Leid, Lorah, & Company, P.C.  Moving forward, Leid Lorah will be renamed Pennoptic CPAs and Strategic Partners, LLC. “This new affiliate relationship between Pennoptic CPAs and Strategic Partners,… View Article

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March 14, 2024

A Comprehensive Guide to Business Cyber Security

In the digital age, online security is among the most critical factors for any business. As more and more people are living their lives online, security has become a priority for those giving up sensi...

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New Employee vs Independent Contractor Rule Effective March 11

The U.S. Department of Labor (DOL) announced on Jan. 9, 2024, the issuance of its final rule regarding whether a worker is an employee or an independent contractor under the federal Fair Labor Stand...

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Death of a Loved One

The death of a loved one is one of life’s most difficult times and a time for reflection and grieving. However, it also triggers unique financial and tax events that must be dealt with by the surviv...

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The Importance of Separating Personal and Business Finances

One fundamental financial practice that often gets overlooked, yet holds immense importance, is the separation of personal and business finances. By maintaining distinct bank accounts and credit cards...

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March 2024 Individual Due Dates

March 11- Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no lat...

Read More >>

March 2024 Business Due Dates

March 1 – Farmers and Fishermen File your 2023 income tax return (Form 1040 or 1040-SR) and pay any tax due. However, you have until April 15 (April 17 if you live in Maine or Massachusetts) to...

Read More >>

Ross Buehler Falk & Company, LLP Expands Reach Through Majority Acquisition of Leid Lorah & Company P. C.

Lancaster, PA— Ross Buehler Falk & Company, LLP, a leading public accounting and business advisory firm, is pleased to announce the acquisition of a majority interest in Leid, Lorah, & Compa...

Read More >>

Corporate Transparency Act — Beneficial Ownership Information Reporting Requirement

Starting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA). The CTA was enacted into law as part of the National Defense Act f...

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Technology Trends for Business to Watch in 2024

The unrelenting advancement of technology is still going strong even as we enter 2024. The business landscape is poised for transformative changes, driven by ongoing developments that demand organizat...

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Documenting Fiduciary Accounting Practices

Fiduciary accounting, which is also referred to as court accounting, is a way to document and report financial activity during a discrete period of time for legal entities, such as a conservatorship, ...

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Considerations For Paying Off a Mortgage Early

For many, buying a home is the biggest asset they will ever own. However, you aren’t able to fully benefit from that asset until you pay off the mortgage; until then it is technically a liability. T...

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A Safeguarding Your IRS Payments: Defending Against Check Washing Fraud

In an era where financial scams are becoming increasingly sophisticated, protecting your IRS payments demands more awareness than it once did. Check washing fraud, a technique where thieves steal chec...

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Breaking: IRS Restarts Collection Notices But Adds Penalty Relief

In a significant development to assist individuals, businesses, and tax-exempt organizations grappling with back taxes, the Internal Revenue Service (IRS) has introduced new penalty relief for approxi...

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Home IRS Expands Requirements to E-File Information Returns Starting in 2024

Businesses, whether operating as a corporation, partnership, or a sole proprietorship, have been required to electronically file information returns when the aggregate number of these returns, regardl...

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Wage Garnishment Considerations for Business Owners

According to the United States Department of Labor’s Consumer Credit Protection Act (CCPA), wage garnishments are a complex legal process for employers to account for when it comes to employment...

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Impact of Digital Currency on Businesses’ Accounting

The emergence of digital currency is reshaping how businesses operate and account for financial transactions. As accounting professionals navigate this transformative wave, understanding the profound ...

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The 2023 Tax Planning Guide

It’s that time of year again: time for year-end tax planning. With the end of 2023 coming fast, the time to act is now. In this article, we’ll look at the moves you can make to optimize yo...

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Kiddie Tax – What a Parent needs to Know

The Kiddie Tax was introduced in 1986 to prevent high-income parents from shifting their investment income to their children, who typically fall into lower tax brackets. While the term “Kiddie Taxâ€...

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What to Do When You’ve Made a Mistake on Your Tax Return

Filing taxes can be a complex process, and it’s not uncommon for mistakes to occur. Whether it’s a simple miscalculation or a more significant error, knowing how to navigate IRS tax proble...

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Taxes and Holiday Gift Giving

The holiday season is customarily a time of giving gifts, whether to your favorite charity, family members or others. Some gifts have tax implications and can even provide a variety of tax benefits. B...

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