Author Archives: mgracey

The SECURE Act 2.0, passed into law in 2022, aims to reform the nation’s retirement savings system, making it easier for workers to save for their golden years and simplifying the rules employers must follow to administer retirement benefit plans for their employees. Following are some of the law’s provisions that take effect on Jan. […]

Beginning in the 19th century, some of the U.S.’s wealthiest industrialists quietly abandoned Wall Street banks to hire their own teams of experts to discreetly manage, preserve and grow their business operations and family wealth for future generations. Today, these family offices have moved beyond the shadows of the Rockefellers, Morgans and Vanderbilts and expanded […]

In this episode Director of Assurance and Advisory Services Whitney Schiffer shares the ways insurance audits can uncover underpayments and improve finances.

The IRS announced it is resuming mailing automated collections and reminder notices to taxpayers with outstanding tax liabilities from 2021 and earlier, a practice it suspended in 2022. In certain circumstances, the agency will waive failure-to-pay penalties that accrued in tax years 2020 and 2021 during the height of the COVID pandemic. It is estimated […]

According to the Federal Trade Commission (FTC), identity theft continues to be one of the fastest-growing crimes in the U.S., with more than 1.1 million cases reported in 2022. The repercussions of falling victim to this type of fraud can be overwhelming, but there are proactive steps you can take to mitigate the damage and […]

Recipients of Social Security and Supplemental Security Income (SSI) will see a 3.2 percent cost-of-living adjustment (COLA) to the benefits they receive in 2024. The increase, which translates to an additional $50 per month for senior citizens, widows and persons with disabilities and special needs, pales in comparison to the 8.7 percent bump in benefits […]

The Inflation Reduction Act of 2022 (IRA) amended Section 45L of the U.S. Tax Code by expanding the Energy Efficient Home (EEH) credit available to builders and other contractors that construct or substantially reconstruct new single-family homes and multifamily structures after Dec. 31, 2023, and on or before Dec. 31, 2032, that meet specific energy […]

In this episode Director of Forensic and Advisory Services Joel Glick shares instances and approaches to tracing comingled funds.

Upgrading your home’s energy efficiency can not only help the environment and reduce your electric bills, but it can also provide you with valuable tax credits to cover a portion of qualifying improvement expenses beginning in 2023. Energy Efficient Home Improvement Credits  Under the Inflation Reduction Act signed into law in 2022, homeowners may earn […]

The IRS announced the inflation adjustments taxpayers may use to determine the deductible costs of operating a motor vehicle for business, charitable and medical purposes in tax year 2024. Taxpayers also have the option to calculate these expenses based on the actual costs they incur to use their vehicles. Effective Jan. 1, 2024, the standard […]