What do the 2023 cost-of-living adjustment numbers mean for you?
The IRS recently issued its 2023 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, many amounts increased considerably over 2022 amounts. As you implement 2022 year-end tax planning strategies, be sure to take these … Read more…
Jones & Roth offices closed Thanksgiving week to give team members time to recharge
The leadership team at Jones & Roth has announced that all three offices will be closed during the week of Thanksgiving, from November 21–25 in order to give team members an opportunity to relax and recharge. The past two and … Read more…
Tackling time-tracking troubles
For construction businesses, time tracking is about more than capturing labor hours to issue paychecks. It’s a complex, critical administrative task directly tied to your company’s financial stability. Improper time tracking can lead not only to payroll mistakes, but also, … Read more…
Employee Retention Credit Scam Alert
On October 19, 2022, the IRS issued a press release (IR-2022-183) regarding the Employee Retention Credit (ERC). It warned employers to watch out for third parties advising them to claim the ERC, when they may not actually qualify for the … Read more…
Traditional vs. Roth IRA
Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 36.6 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by nearly 27.3 million households.1 Both are … Read more…
Tax Brief: Form 990, Schedule L: Transactions with Interested Persons
The IRS Form 990 Schedule L is used to disclose certain types of transactions between a not-for-profit organization and interested persons. These transactions include excess benefits transactions, loans, grants or other assistance, and business transactions. This schedule is also used … Read more…
How Employers Can Prepare for Paid Leave Oregon
Now is the time for Oregon employers to start preparing for the state’s new paid family and medical leave insurance (PFMLI) program, known as Paid Leave Oregon. Funded through payroll taxes, employers and employees will begin paying into the fund … Read more…
Reducing your construction company’s workers’ comp costs
Workers’ compensation insurance represents a major expense for construction companies. It might seem like there’s not much you can do to avoid high premiums. However, there are steps you can take to reduce or at least better control workers’ comp … Read more…
Inflation Reduction Act expands deductions for energy-efficient construction
Mitigating the adverse effects of climate change is one of the primary targets of the recently enacted Inflation Reduction Act (IRA). To that end, the legislation is packed with tax incentives, including the significant expansion and extension of two tax … Read more…
Systematic Withdrawals in Retirement
Many of us grew up with the concept that making regular, periodic contributions to our retirement account was a sound investment strategy. The idea was that, in a fluctuating market, regularly investing a set amount would enable an individual to … Read more…
