Awarded Money in a Lawsuit or Settlement? It’s Only Tax-Free in Certain Circumstances
You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude…
Read More At Burkett Burkett & Burkett Certified Public Accountants, P.A., we provide a full range of services to individuals, small and large businesses, professional firms, and governmental and non-profit entities.
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Child Tax Credit: The Rules Keep Changing but It’s Still Valuable
If you’re a parent, you may be confused about the rules for claiming the Child Tax Credit (CTC). The rules…
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Key Tax Issues in M&A Transactions
Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy. The total value…
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Answers to Your Questions About 2023 Limits on Individual Taxes
Many people are more concerned about their 2022 tax bills right now than they are about their 2023 tax situations.…
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Have Employees Who Receive Tips? Here Are the Tax Implications
Many businesses in certain industries employ individuals who receive tips as part of their compensation. These businesses include restaurants, hotels…
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Retirement Plan Early Withdrawals: Make Sure You Meet the Requirements to Avoid a Penalty
Most retirement plan distributions are subject to income tax and may be subject to an additional penalty if you take…
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