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2025 – Wishing You a Successful and Prosperous New Year!
/in Encore Culture, News, Tax Tips - Business, Tax Tips - Individual/by Betty KimDear Clients, Trusted Advisors and Colleagues, Happy New Year! As we step into 2025, we’re excited about what lies ahead and look forward to serving you with even greater focus, care, and expertise. Our team has been diligently preparing to support your goals in taxes, accounting, and business consulting—whether for your business, new ventures, personal […]
Get tax breaks for energy-saving purchases this year because they may disappear
/in News, Tax Tips - Individual/by Betty KimThe Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of them before it’s too late. On the campaign trail, President-Elect Donald Trump pledged to “terminate” the law and “rescind all unspent funds.” Rescinding all or part of the law would require action […]
The nanny tax: What household employers need to know
/in News, Tax Tips - Individual/by Betty KimHiring household help, whether you employ a nanny, housekeeper, or gardener, can significantly ease the burden of childcare and daily chores. However, as a household employer, it’s critical to understand your tax obligations, commonly called the “nanny tax.” If you hire a household employee who isn’t an independent contractor, you may be liable for federal […]