Tax Preparation - Rose Group CPAs

Why CPAs’ Fees Have Increased

November 13, 2024 No Comments

In recent years, major tax legislation—like the TCJA, CARES Act, and SECURE Act 2.0—has introduced new rules and credits, adding layers of complexity to tax planning. Alongside these changes, rising talent costs and the need for specialized expertise have led to an increase in CPA fees. This post dives into the reasons behind the cost increase, including the ongoing education required to keep up with shifting regulations, enhanced compliance measures, and the added value skilled tax professionals bring to clients navigating this evolving landscape.

Tax Relief for Hurricane Victims: Key Deadlines You Need to Know

October 9, 2024 No Comments

If you’ve been impacted by a hurricane, like Hurricane Debby or the more recent Hurricane Helene, I want to make sure you’re aware of the tax relief that’s available to help ease some of the burden during this difficult time.

Roth IRA Contributions in 2024: Strategies for Maximizing Tax-Free Retirement Savings Amid Rising Taxes

September 11, 2024 No Comments

In today’s economic environment, considering a Roth IRA conversion is more important than ever. With the government deficit at historic highs, it’s reasonable to expect that tax rates may rise in the future

Past, Current and Future #R&D Tax Legislation

August 15, 2024 No Comments

The failure of the Tax Relief for American Workers and Families Act to pass in the Senate adds to the uncertainty surrounding the tax treatment of R&D expenses.

TCJA Changes Sunsetting in 2025

July 24, 2024 No Comments

With the potential sunsetting of TCJA provisions in 2025, we want our clients to consider some planning tips.

Tax Extensions: Debunking the Myths and Understanding the Benefits

July 10, 2024 No Comments

Let’s debunk the myths surrounding tax extensions and understand the benefits they offer.

Understanding the Kiddie Tax and Strategies for Maximizing Your Child’s Tax Benefits

June 26, 2024 No Comments

The kiddie tax applies to unearned income (investment income) exceeding a certain threshold. For 2024, if your child’s investment income surpasses $2,600, it will be taxed at your highest marginal tax rate.

BOI – Deciphering the Corporate Transparency Act: A Guide for Businesses

March 13, 2024 No Comments

In the ever-evolving realm of business regulations, the Corporate Transparency Act (CTA) has emerged as a pivotal player, ushering in new reporting standards for U.S. businesses. With a focus on beneficial ownership, the CTA demands attention and action from companies, including clients of Rose Group CPAs.

Advantages of Retirement Accounts

February 28, 2024 No Comments

Retirement accounts are a cornerstone of financial planning for the future, yet they can often feel like a maze of acronyms and options. What exactly are 401(k)s, IRAs, and Roths, and how do they benefit us? Let’s break it down.