Brandt and Associates Tax and Financial Services

12/21/2022

There are a number of notable changes taxpayers should be aware of in the 2023 tax year as the IRS updates brackets, caps, and thresholds to account for inflation.

08/25/2022

As part of COVID-19 pandemic relief, the IRS will automatically abate failure-to-file penalties for certain tax and information returns and refund those penalties already paid.

08/17/2022

Taxpayers who take big deductions relative to income, own a business structured as a partnership or S corporation, trade crypto, or have income from foreign sources face increased likelihood of an IRS audit.

12/04/2020

Keep your fingers crossed that this will change

In a letter to Congress, dated Dec. 3, hundreds of national trade associations and their state and regional affiliates asked that legislation be enacted before the end of 2020 reversing the IRS’s position that amounts forgiven in loans under the PPP be nondeductible business expenses.

02/15/2020

For decades, a Defense Department error resulted in veterans hurt in combat paying too much in taxes

01/29/2020

We are ready for tax season. Are you?

Last year’s filing season was an adjustment for taxpayers and industry professionals alike as it was the first under a massive overhaul of federal tax law. While this year’s season is expected to be more sedate, there are a few tweaks to be aware of.

12/18/2019

Among other things, the IRS’s proposals offer a new set of definitions.

11/28/2019

Happy Thanksgiving from all of us at Brandt and Associates Tax and Financial Services

“The roots of all goodness lie in the soil of appreciation for goodness.” -Dalai Lama

11/28/2019

5 states so far have voted to restore Obamacare's health insurance mandate. The federal government has no uninsured tax penalty - but these 5 states now do.

11/26/2019

KID Museum’s Invent the Future Challenge

[Note: As I mentioned in my recent post about Dr. Jane Goodall coming to DC, I want to highlight local ways that kids and families can take action against climate change. As Goodall suggested, this…

11/21/2019

A number of end-of-year tax planning strategies are available to business owners that can be used to reduce their tax liability. Here are a few of them:

Brandt & Associates Tax & Financial Services is a full service tax, accounting, financial services, and business consulting firm located in Alexandria, VA

11/20/2019

Tolls and new HOV restrictions begin Sunday evening on Interstate 395 from Springfield, Virginia, to the D.C. line. Here’s what you can expect.