Watch Out for “Income in Respect of a Decedent” Issues When Receiving an Inheritance
Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may…
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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Update on Retirement Account Required Minimum Distributions
If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required…
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Coordinating Sec. 179 Tax Deductions With Bonus Depreciation
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a…
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Maximize the QBI Deduction Before It’s Gone
The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So…
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If You Didn’t Contribute to an IRA Last Year, There’s Still Time
If you’re gathering documents to file your 2023 tax return and you’re concerned that your tax bill may be higher…
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Get Ready for the 2023 Gift Tax Return Deadline
Did you make large gifts to your children, grandchildren or others last year? If so, it’s important to determine if…
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