Richard L Browdy, CPA

Client Update Newsletter: November 2022 Social Security recipients got some great news about their benefits. Check out this month's newsletter to learn more about the cost-of-living increase for 2023. Also read about several tax court cases and what they might mean for your situation, how to raise a financially savvy child, and how to avo...

Find out how much Social Security benefits increase in 2023. Also read about several tax court cases and what they mean to you, raising a financially savvy child, and avoiding gift card fraud.

Client Update Newsletter: November 2022 Social Security recipients got some great news about their benefits. Check out this month's newsletter to learn more about the cost-of-living increase for 2023. Also read about several tax court cases and what they might mean for your situation, how to raise a financially savvy child, and how to avo...

Don't Run Afoul of the IRS's Nanny Tax The IRS is more strictly enforcing rules that determine whether a worker is actually your employee, rather than independent contractor. You have many extra tax responsibilities and expenses if you are an employer in the eyes of the IRS.

The IRS is enforcing Nanny Tax rules that regulate whether a domestic worker you pay is considered a contractor or employee.

Don't Run Afoul of the IRS's Nanny Tax The IRS is more strictly enforcing rules that determine whether a worker is actually your employee, rather than independent contractor. You have many extra tax responsibilities and expenses if you are an employer in the eyes of the IRS.

Inflation Spikes Social Security for 2023 - How much you pay and checks received are all going up! 2023 Cost-of-Living Adjustment (COLA) changes are here. This is what you need to know.

$13,200 more of your income is subject to Social Security taxes in 2023. Here are the details.

Inflation Spikes Social Security for 2023 - How much you pay and checks received are all going up! 2023 Cost-of-Living Adjustment (COLA) changes are here. This is what you need to know.

Lower This Year's Tax Obligation - Action to take now! Now is a great time to assess your current tax situation and address any lingering tax questions that may improve your tax picture this year. Here are five things to consider.

There's still time to lower your tax obligation. Here are five great ideas to consider.

Lower This Year's Tax Obligation - Action to take now! Now is a great time to assess your current tax situation and address any lingering tax questions that may improve your tax picture this year. Here are five things to consider.

Accurately forecasting your tax obligation can be a challenge. Here are some tips. Also read about how to pull your property taxes back down to earth.

Tax Planning Insights: October 2022 If you're interested in minimizing your tax obligations and maximizing your savings, consider the helpful tips and ideas you'll find in this newsletter. Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free....

Leveraging Your Children's Lower Tax Rate - One of the best places for parents to look for tax savings The progressive nature of income tax rates offers taxpayers the incentive to transfer assets to lower earning taxpayers. Why not your children? Here are some tips.

You can legally lower your tax by shifting unearned income to your children. Here are some ideas.

Leveraging Your Children's Lower Tax Rate - One of the best places for parents to look for tax savings The progressive nature of income tax rates offers taxpayers the incentive to transfer assets to lower earning taxpayers. Why not your children? Here are some tips.

Client Update Newsletter: October 2022 Watching summer transform into beautiful fall colors can be just as mesmerizing as tax planning. Similar to looking closely for gorgeous autumn scenery, with tax planning you’re meticulously on the lookout for opportunities to cut your 2022 taxes. In this month’s newsletter, read about s...

Here are some tax planning strategies to consider before the end of 2022. Also read about some ideas to improve your personal cash flow and the ingredients of a successful business partnership.

Client Update Newsletter: October 2022 Watching summer transform into beautiful fall colors can be just as mesmerizing as tax planning. Similar to looking closely for gorgeous autumn scenery, with tax planning you’re meticulously on the lookout for opportunities to cut your 2022 taxes. In this month’s newsletter, read about s...

File That Tax Return! - October extension deadline fast approaching The Form 1040 extended filing deadline is fast approaching. If you have not already done so, please consider filing your 2021 tax return in the next two weeks.

Time to file your tax return for 2021 if you have not already done so. There is no reason to leave a possible refund on the table, and the IRS is not going to beg to send you back your money.

File That Tax Return! - October extension deadline fast approaching The Form 1040 extended filing deadline is fast approaching. If you have not already done so, please consider filing your 2021 tax return in the next two weeks.

Effective and Marginal Tax: Know Yours! - Understanding the difference between these two tax rates What is the difference between a Marginal Tax Rate and an Effective Tax rate? Who cares? You might if you add a second job and see some of your tax benefits disappear. Here is what you need to know.

Effective tax rate and marginal tax rates are two figures every taxpayer should know. Do you know yours?

Effective and Marginal Tax: Know Yours! - Understanding the difference between these two tax rates What is the difference between a Marginal Tax Rate and an Effective Tax rate? Who cares? You might if you add a second job and see some of your tax benefits disappear. Here is what you need to know.

Reduce Your Medical Expenses - Tax smarts that make a difference Medical expenses are on the rise. If you know your options and plan accordingly, there are ways to save tax dollars on those medical bills.

Medical expenses are on the rise. Here are some smart ideas for saving tax dollars on those medical bills.

Reduce Your Medical Expenses - Tax smarts that make a difference Medical expenses are on the rise. If you know your options and plan accordingly, there are ways to save tax dollars on those medical bills.

Here are some key changes to the tax code for 2022. Use this information to help understand your 2022 tax obligations and how it may change from last year's tax return.

Tax Planning Insights: September 2022 If you're interested in minimizing your tax obligations and maximizing your savings, consider the helpful tips and ideas you'll find in this newsletter. Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free....

The New $7,500 Tax Credit That Isn't - What you need to know Think you will get the new electric vehicle credit beginning in 2023? Think again. Here is what you need to know.

Here's another tax credit, but one few will ever see. Look before you buy. Read on.

The New $7,500 Tax Credit That Isn't - What you need to know Think you will get the new electric vehicle credit beginning in 2023? Think again. Here is what you need to know.

Client Update Newsletter: September 2022 This month's newsletter recaps the details of the revamped electric vehicle tax credit and other energy credits in newly passed legislation. Also included this month are some tips to review your recurring monthly bills that seem to automatically creep up. And there is a revealing article on a financ...

New energy credit details and understanding the financial landmine if your car is ever totaled by insurance lead this month's newsletter. Read on!

Client Update Newsletter: September 2022 This month's newsletter recaps the details of the revamped electric vehicle tax credit and other energy credits in newly passed legislation. Also included this month are some tips to review your recurring monthly bills that seem to automatically creep up. And there is a revealing article on a financ...

Reminder: Third Quarter Estimated Taxes Due - Now is the time to make your estimated tax payment If you have not already done so, please plan to make your third quarter estimated tax payment. The due date is Thursday, September 15th.

Reminder: 3Q estimated taxes are due Thursday, September 15. Here are some things to consider.

Reminder: Third Quarter Estimated Taxes Due - Now is the time to make your estimated tax payment If you have not already done so, please plan to make your third quarter estimated tax payment. The due date is Thursday, September 15th.

The IRS requires contemporaneous records to prove deductions and credits. That means you can't go back later to get a copy of a receipt you forgot. Here are some tips.

Understanding Tax Terms: Contemporaneous Records - Everyone needs to know what this means! The Internal Revenue Service has a vocabulary of their own. One of the more important is their use of the word contemporaneous. What does it mean, and why should you care?

Understanding Tax Terms: Contemporaneous Records - Everyone needs to know what this means! The Internal Revenue Service has a vocabulary of their own. One of the more important is their use of the word contemporaneous. What does it mean, and why should you care?

IRS Audit Rates - Don't get complacent...resurgence is underway The IRS reported audit rates are the their lowest in decades. But don't get complacent. A closer look at the IRS data release reveals a change in that trend.

The IRS audit rates are still at historic lows, but all that is now starting to change. Here is what you need to know.

IRS Audit Rates - Don't get complacent...resurgence is underway The IRS reported audit rates are the their lowest in decades. But don't get complacent. A closer look at the IRS data release reveals a change in that trend.

You Can't Deduct that Loss - How to ensure your business is not deemed a hobby The old and fast rules to determine whether your business activity is deemed a hobby in the eyes of the IRS have been replaced by guidelines. Here is what you need to know as you wrap up your business year.

Hobby verus business? If you want to deduct expenses, you need to know these rules.

You Can't Deduct that Loss - How to ensure your business is not deemed a hobby The old and fast rules to determine whether your business activity is deemed a hobby in the eyes of the IRS have been replaced by guidelines. Here is what you need to know as you wrap up your business year.

Early withdrawal of money in retirement accounts can be tempting. But before taking action it is always best to understand the ramifications of your action. Here are some thoughts on the subject.

Tax Planning Insights: August 2022 If you're interested in minimizing your tax obligations and maximizing your savings, consider the helpful tips and ideas you'll find in this newsletter. Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free....

Hidden Back to School Tax Deductions Time to buy school supplies? Pay for field trips? Is any of this tax deductible? Here are some ideas to find a tax break in the back to school rush.

Before school gets going this fall, check out these school expenses that might help you decrease your tax bill.

Hidden Back to School Tax Deductions Time to buy school supplies? Pay for field trips? Is any of this tax deductible? Here are some ideas to find a tax break in the back to school rush.

Client Update Newsletter: August 2022 Welcome to the last month of traditional summer vacation! And what better way to lead the final month of summer vacation by outlining ideas to save money while taking that long-deserved break. This month's letter includes a review of five ways to take advantage of IRA accounts to reduce your tax bur...

Hobbies cannot deduct expenses per the IRS, outline here are ways to avoid this problem. There are also five great ideas to take advantages of IRAs. Plus much more!

Client Update Newsletter: August 2022 Welcome to the last month of traditional summer vacation! And what better way to lead the final month of summer vacation by outlining ideas to save money while taking that long-deserved break. This month's letter includes a review of five ways to take advantage of IRA accounts to reduce your tax bur...

Great Tax Reduction Ideas The tax code is about 75,000 pages long, so it's not surprising there are many overlooked money-saving deductions hidden within it. Check out these great ideas to lower your tax.

Commonly overlooked tax deductions that everyone should know.

Great Tax Reduction Ideas The tax code is about 75,000 pages long, so it's not surprising there are many overlooked money-saving deductions hidden within it. Check out these great ideas to lower your tax.