The Internal Revenue Services (IRS) recently released an increase in the optional standard mileage rates for the final six months of 2022. These rates are used to calculate the deductible cost of oper...

The June 15th deadline for return estimated payments for PA-40 and PA-41 is quickly approaching. The RBF tax team wanted to be sure you are aware that estimated payments of $15,000 plus must be paid ...

Cash flow awareness is vital in the day-to-day activities of a business. Keeping track of the inflows and outflows helps a company make better plans and decisions, such as choosing the right time to e...

When was the last time you or your attorney reviewed or updated your will or trust? If it was some time ago before the passage of substantial tax law changes over the past few years, your documents ma...

There are plenty of advantages to being your own boss, but that doesn’t mean that every decision is easy or straightforward. One of the first things you’ll have to decide is the type of business s...

Taxpayers often question how long records must be kept and the amount of time IRS has to audit a return after it is filed. It all depends on the circumstances! In many cases, the federal statute of li...

Are you familiar with 401(k) retirement funds? More and more employers are offering 401(k) plans as an employee benefit, and if you have the option and are not currently taking advantage of it, it may...

If you have a second home in a resort area, or if you have been considering acquiring a second home or vacation home, and with summer just around the corner, you may have questions about how rental in...

Cybersecurity has become more important than ever, especially with the rise in cyberattacks. However, much focus is put on computers, laptops, servers, etc. Mobile phones and tablets seem to be overlo...

The Bureau of Labor Statistic’s Consumer Price Index rose by 8.5 percent year-over-year ending March 2022, leading most economists to agree that inflation is going to be with us for a while. With in...

According to the January 2022 Future Forum Pulse survey, there’s been a shift in what workers want post-pandemic. The report found that in Q4 of 2021, 78 percent of workers from six industrialized c...

One of the cardinal rules of accounting is this: Go through your new transactions every day. If you wait until there are too many of them, you’re likely to give them short shrift. You may miss probl...

Have you ever wondered how long the IRS has to question and assess additional tax on your tax returns? For most taxpayers who reported all their income, the IRS has three years from the date of filing...

Not too long ago in Orlando, Florida, a federal investigation uncovered a situation where 22 workers were denied overtime by a Florida-based equipment rental company. The company was paying flat salar...

You may hear people use the term “Stepped-Up Basis” that many believe is a tax provision that allows beneficiaries of an inheritance to reduce or even avoid taxes when and if they sell inherited p...

The annual inflation rate in the U.S. accelerated to 7.5% in January of 2022, the highest since February of 1982, hitting those on fixed retirement income, namely seniors, the hardest. On top of escal...

If you want to make an impact in your new grad’s life, make an investment in his or her future with a 529 College Savings account. There are two versions: an investment account and a prepaid acc...

You may or may not have heard of the 50/30/20 budgeting rule, but it’s a good one — one that will help make organizing your finances a lot simpler. The basic idea is to divide up your after-ta...

Cybersecurity experts estimate that there is a ransomware attack every 11 seconds. This is a big challenge for individuals, businesses, and governments alike. In ransomware attacks, cybercriminals enc...

According to the U.S. Small Business Administration and Project Equality, 60 percent of business owners plan to cash out of the business in the next 10 years. For the baby boomer generation, it’...