A Tax Summary of the One Big Beautiful Bill Act
Richard Tullier, Jr., CPA provides a tax summary of the major changes of the One Big Beautiful Bill Act signed into effect on July 4, 2025. Tax changes affect both individuals and businesses.
Entity Choice and Tax Planning
Entity Choice and Why It Matters for Tax Planning:
You’ve decided to start your own company, but how do you want to be taxed?
In this article, our very own Richard Tullier, CPA discusses some of the key differences between Partnerships and S Corporations.
EMPLOYEE RETENTION CREDITS – That offer might not contain the full story
Over the last few months, you have undoubtedly received emails claiming that you are missing out on hundreds of thousands of dollars in government funds due to the pandemic and that you should act before they expire. Before jumping in, take a look at the items below. Be careful with that email claiming ERC funds; that offer might not contain the full story.
EMPLOYEE RETENTION CREDITS – That offer might not contain the full story Read More »
ADVANCED CHILD TAX CREDIT – CLAIM IT OR OPT OUT?
Wegmann Dazet’s Richard Tullier, CPA explains the tax implications of the 2021 advanced child tax credit payments and helps to answer “Claim it or opt out?” In March 2021, the American Rescue Plan Act increased the child tax credit from $2,000 per child, up to as much as $3,600 per child for kids under
ADVANCED CHILD TAX CREDIT – CLAIM IT OR OPT OUT? Read More »
How Long Should I Keep My Tax Records?
Richard Tullier, CPA explains that 3 – 7 years is a general guideline for record retention, if you find yourself asking “How long should I keep my tax records?” It was January 2006 and my grandparents had decided that although they were spared any damage from Hurricane Katrina, they wanted to move north of the
IT’S OK TO EXTEND YOUR TAX RETURN
If your tax preparer said your extension is OK, then trust their instincts. Richard Tullier, CPA, tells us why it’s OK to extend your tax return. Before I get to some of the many scenarios in which extensions make sense, here’s an analogy: It’s the day before a big test, but you just got
It’s Not Good to Get a Big Refund Check
At a time when cash is likely at a premium, it is time to think about filing your tax returns for 2020 and also time to think about how to maximize your cash flow for 2021. Richard Tullierr, CPA explains why it’s not good to get a big refund check. We are bombarded nowadays with
CPA, Tax Preparer, Bookkeeper: What’s the Difference?
Whether you’re starting a business or have been in business for years, you may have asked yourself this question at least once during your career: “CPA, Tax Preparer, Bookkeeper: What’s the Big Difference?” Wegmann Dazet Senior Tax Manager Richard Tullier discusses the difference amongst the three. People use these terms interchangeably, but the difference can
CPA, Tax Preparer, Bookkeeper: What’s the Difference? Read More »
It’s Nearing Year-End, do you know where your taxes are?
Richard Tullier, CPA explains year-end tax planning in the time of COVID: Throughout this year, I often have thought of a quote from Woody Allen: “If you want to make God laugh, tell him about your plans.” I’d say substitute 2020 for God and the quote applies. While there have been many surprises this year,
It’s Nearing Year-End, do you know where your taxes are? Read More »
Detailed Summary of the “FAMILIES FIRST CORONAVIRUS RESPONSE ACT”
By now, you have no doubt heard about the passage and enactment of the “Families First Coronavirus Response Act” (“Act”), from March 18, 2020. The Act was issued to give the first bit of relief to business owners and individuals affected by the unprecedented impact of COVID-19 on our lives and our financial stability. Here
Detailed Summary of the “FAMILIES FIRST CORONAVIRUS RESPONSE ACT” Read More »
