KerberRose’s Post

Each Monday, we will cover a topic relating to money, and how it comes up in our areas of practice. This week, the tip is that workers' compensation benefits in Colorado are not taxable. This usually comes up around tax time, so we cover it every year. Though no one likes tax time, this tends to be a welcome surprise for injured workers. As always, this post doesn't constitute legal or tax advice, so get in touch with your appropriate professionals as questions arise. #moneymondaytip #workcompbenefits #employeebenefits #injuredworkers #taxes #jamesolsenlaw

via cpatrendlines.com: Letting Staff Go After Tax Season? Bad Idea: Eight reasons they might be more valuable than you think. By Ed Mendlowitz Tax Season Opportunity Guide Go PRO for members-only access to more Edward Mendlowitz. http://dlvr.it/T5gTpM #Talent #Management #Staffing

🤔 Do you need to submit a self assessment if you are working though an umbrella company?🤔 The short answer: not always, but it's essential to understand the details! Many umbrella company workers may not need to file a tax return unless they have other income sources or meet specific criteria. To make it easy, we've broken down the key points in our latest blog - giving you a clearer picture of whether self assessment needs to be on your to-do list 👉 https://buff.ly/3Cfsthf

The TaxProf: TIGTA: Occupancy Rate At Most IRS Buildings Is Less Than 50% (Washington, D.C. Is Lowest): Treasury Inspector General for Tax Administration, The IRS Has Reduced Its Overall Space Footprint; However, a Significant Amount of Unneeded Office Space Still Remains (2024-100-027) (June 4, 2024): Since FY 2018, the IRS has reduced its overall space footprint by approximately 2 million rentable square feet, from 24.3 million to... http://dlvr.it/T935xs @SoCalTaxProf #Tax #Policy #Law

The TaxProf: TIGTA: Occupancy Rate At Most IRS Buildings Is Less Than 50% (Washington, D.C. Is Lowest): Treasury Inspector General for Tax Administration, The IRS Has Reduced Its Overall Space Footprint; However, a Significant Amount of Unneeded Office Space Still Remains (2024-100-027) (June 4, 2024): Since FY 2018, the IRS has reduced its overall space footprint by approximately 2 million rentable square feet, from 24.3 million to... http://dlvr.it/T9360j @SoCalTaxProf #Tax #Policy #Law

Republicans plan to leverage their sweep of the White House and Congress in the November elections to unilaterally move sweeping tax legislation, promising to push through renewal of the 2017 GOP tax law in the first 100 days of power. Unlike most legislation in the narrowly divided federal legislature, simple majorities will be able to move that bill thanks to a process known as budget reconciliation. The procedure removes the fear of a 60-vote filibuster in the Senate threshold halting their progress, but the complicated process makes it easier for GOP lawmakers to enact President-elect Donald Trump’s agenda without support from Democrats. And it’s not without challenges. Read more from Zach C. Cohen: https://lnkd.in/eUPmj8KH

Ever wondered if your loyal canine companion could impact your taxes? While you can't claim your dog as a dependent (as much as we know they are part of the family), there are certain situations where dog expenses could be tax-deductible. From service animals to guard dogs for your business, let's explore the 'paws-ibilities' of dog-related tax deductions. Book your appointment today! https://squ.re/2Dpk61J #DogLoversTaxTips #PawsAndTaxes #FinancialFunWithFido"

Senate Republicans recently halted the year's major tax package, just six months after its strong passage in the House. 📜 The procedural vote on the Tax Relief for American Families and Workers Act of 2024 fell short of the required 60 votes, leaving the future of the bill uncertain. Senate Majority Leader Chuck Schumer has indicated that this isn't the end, suggesting potential for another vote later this year. As election year 🗳️ politics loom large, this situation highlights the complexities and challenges of tax legislation in a divided chamber. Stay tuned for updates on this evolving story! #TaxPolicy #Legislation #PoliticalUpdate

With less than two months until the November elections, your tax strategy for 2025 and beyond may need to pivot. Please take a look at #Deloitte's tax policy election report for key differences and potential implications.

Updated results from the November 5 elections at this writing show that Republicans are projected to retain control of the House, with the minimum required majority of at least 218 Republican seats to 208 Democratic seats. Republican are leading in four of the remaining nine races that are still undecided. If Republicans and Democrats hold the seats in which they are currently leading, Republicans would have a 222 to 213 seat majority in the 119th Congress. In addition, results available as of this writing show that Republicans are set to hold a Senate majority of 53 Republicans seats to 47 Democratic seats, pending potential recounts in two races. Control of the White House and Congress will provide President-elect Trump and Congressional Republicans the opportunity to set the direction of US tax policy and potentially act on the tax and trade policies that Trump proposed during his campaign.