PSK ClientLine Newsletter

www.pskcpa.com

August 2023

How Small Business Stock Sales Are Taxed

Selling small business stock can have significant tax implications, depending on several factors, such as the holding period, the nature of the business, and the type of stock sold.

Revisit Your Form W4

Don’t wait until December to review your Form W4. By then, it’s too late to make changes for 2023.

New FAFSA Rules

The Free Application for Federal Student Aid (FAFSA) was revised to streamline the application process and alter eligibility formulas.

August 2023 Client Profile

Paula received a voicemail from an IRS employee asking for a call back on a toll-free number. She is current on her tax filing requirements and doesn’t owe any back taxes. So, she’s confused about why the IRS would contact her.

Documents Required For A Business Sale

While preparing to sell your business you’ll need to create these key documents for any potential buyer.

Creating A PTO Policy

Creating a Paid Time Off (PTO) policy is essential to a company’s benefits package. As an employer, you have the flexibility to design a policy that suits your business and meets the needs of your employees.

August 2023 Q and A

Let's talk about high-yield savings and money market accounts.

Substantiating Noncash Charitable Deductions

Noncash charitable deductions allow taxpayers to deduct the fair market value of donated items on their tax returns. These steps can help ensure your charitable deductions are adequately substantiated and accepted by the IRS.

Cost of College

Let's compare the average tuituion and fees for various types of colleges in 2011 and 2021.

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