Tax Insights with Hawkins Ash CPAs

Basis in the amount your home is worth for tax purposes. When you sell your home your gain or loss is determined by subtracting its current basis from the sale price. In this episode, Jeff Dvorachek brings light to some misconceptions of taxable home sale gain and the calculation of a home's basis. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses, and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Listen to more of the Tax Insights Podcast at hawkinsashcpas.com/cpa-hq/podcast/

Form 1099-K has been around for a while, but due to a recent law change, many more people and business owners will receive one and need to report it on their 2022 tax returns. In this episode, Jeff Dvorachek explains why you might receive form 1099-K and what to do if you think yours might need a correction. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses, and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Listen to more of the Tax Insights Podcast at hawkinsashcpas.com/cpa-hq/podcast/

It's easier for individuals to do tax planning before the end of the year than it is after. In this episode, Jeff Dvorachek shares how individuals can use stock sale losses, charitable donations as well as retirement plan and health savings account contributions to help offset taxable income for 2022. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses, and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Listen to more of the Tax Insights Podcast at hawkinsashcpas.com/cpa-hq/podcast/

Now that the election is over, it looks like we will have a divided government in Washington for the next couple of years. What this typically means is that there will not be a lot of large tax changes. This podcast explains some tax planning ideas for the end to the year from a business point of view. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses, and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Listen to more of the Tax Insights Podcast at hawkinsashcpas.com/cpa-hq/podcast/

Inflation over the past year or so has not been good for our pocketbooks, but there are some hidden benefits in the form of tax savings. This podcast discusses the tax rate and other tax changes for 2023 that are directly tied to inflation. This podcast explains the tax impact of personal casualties, disasters, and theft. We cover personal losses only. Business or income-producing losses have different rules. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses, and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Listen to more of the Tax Insights Podcast at hawkinsashcpas.com/cpa-hq/podcast/

Prior to November 1, 2022 the rate of I Bonds was 9.62%. This rate got people's attention and many started purchasing these bonds. Although that rate is excellent, there are some other factors you need to consider. This podcast focuses on what I Bonds are and how they work. This podcast explains the tax impact of personal casualties, disasters, and theft. We cover personal losses only. Business or income-producing losses have different rules. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses, and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Listen to more of the Tax Insights Podcast at hawkinsashcpas.com/cpa-hq/podcast/

This podcast explains the tax impact of personal casualties, disasters, and theft. We cover personal losses only. Business or income-producing losses have different rules. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses, and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Listen to more of the Tax Insights Podcast at hawkinsashcpas.com/cpa-hq/podcast/

We have talked in the past about the Employee Retention Credit (ERC). Now you can’t listen to the radio without hearing adds saying that employers can get a $26,000 credit per employee. These adds are generally coming from ERC mills, some of which are taking improper positions related to the credit. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses, and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Listen to more of the Tax Insights Podcast at hawkinsashcpas.com/cpa-hq/podcast/

This podcast explains what you should consider when purchasing a large piece of equipment. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses, and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Listen to more of the Tax Insights Podcast at hawkinsashcpas.com/cpa-hq/podcast/

This podcast covers some changes that will be occurring in 2023 if there are not any law changes in Washington as well as review the changes that affected 2022. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Listen to more of the Tax Insights Podcast at hawkinsashcpas.com/cpa-hq/podcast/