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So far BCo Author has created 56 blog entries.

CLIENT HIGHLIGHT – Total Environmental & Power Systems, Inc. (TEPS)

 

In the dynamic landscape of environmental management and power infrastructure, Total Environmental & Power Systems, Inc. (TEPS) stands as a beacon of innovation and reliability. Specializing in comprehensive solutions for both commercial and residential needs, TEPS is a trusted partner in meeting the evolving electrical and telecommunications requirements of its clients.

At the core of TEPS’s mission is a commitment to understanding that a client’s business success hinges on the proper development and maintenance of their telecommunications system. TEPS adopts a dedicated and focused approach, consistently integrating the newest and most innovative solutions to keep clients at the forefront of the communications industry.  TEPS has earned its reputation as the region’s premier telecommunications contractor for construction, service, and maintenance of all types of facilities, commercial, institutional, […]

By |January 3rd, 2024|Categories: BCo Community News, Client Highlights|Comments Off on CLIENT HIGHLIGHT – Total Environmental & Power Systems, Inc. (TEPS)

Interview with Daniel Novak – Path to Partner

 

In the latest segment of our series Path to Partner, we had the privilege of engaging with one of our newer partners Daniel Novak.  He is a dynamic professional whose journey to partnership reflects a commitment to continuous learning and a passion for unraveling the complexities of ever-changing tax laws.  Daniel is a dedicated advocate for knowledge expansion and a firm believer in the transformative power of understanding.  He enjoys translating the seemingly daunting into comprehensible insights for clients.  For him, the challenge lies not only in navigating through the intricacies of tax laws but also in guiding clients through life events, facilitating strategic planning, and ultimately empowering them to make well-informed business decisions.

Tell us your story and how you decided on a career in accounting.

I believe there are sayings […]

By |December 11th, 2023|Categories: Announcements, BCo Community News|Comments Off on Interview with Daniel Novak – Path to Partner

Qualified Charitable Distributions Allow Eligible IRA Owners Up To $100,000 In Tax-Free Gifts To Charity

 

On November 17, 2023, the Internal Revenue Service reminded individual retirement arrangement (IRA) owners age 70½ or over that they can transfer up to $100,000 to charity tax-free each year.

These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans a great way to easily give to charity before the end of the year.  And, for those who are at least 73 years old, QCDs count toward the IRA owner’s required minimum distribution (RMD) for the year.

 How to set up a QCD

Any IRA owner who wishes to make a QCD for 2023 should contact their IRA trustee soon so the trustee will have time to complete the transaction before the end of the year.

Normally, distributions from a traditional IRA are taxable when received.  With a QCD, however, these […]

By |November 20th, 2023|Categories: IRS, Retirement Planning|Comments Off on Qualified Charitable Distributions Allow Eligible IRA Owners Up To $100,000 In Tax-Free Gifts To Charity

2023 Year-End Tax Planning For Individuals

 

As we approach the end of the year, it’s the perfect time to reflect on your financial goals and ensure they align seamlessly with your present and future financial obligations.  At B+Co, we recognize the significance of effective year-end planning, particularly in the current economic climate marked by rising interest rates and market volatility.

Empowering Your Financial Decisions

We are committed to providing you with the necessary tools to make informed decisions, all from a trusted source.  Through our collaboration as independent members of the BDO Alliance USA, we’re pleased to present our clients with a comprehensive tax planning guide designed for individuals.

Your Guide to Tax Planning (2023-2024)

This guide is crafted to assist you in evaluating and strategizing for the tax landscape in the upcoming year, empowering you to minimize, defer, or […]

By |November 16th, 2023|Categories: BCo Community News|Comments Off on 2023 Year-End Tax Planning For Individuals

IRS Provides Tax Inflation Adjustments for Tax Year 2024

 

On November 9, 2023, the Internal Revenue Service announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax rate schedules and other tax changes. Revenue Procedure 2023-34 provides detailed information about these annual adjustments.

 New for 2024

Starting in calendar year 2023, the Inflation Reduction Act reinstates the Hazardous Substance Superfund financing rate for crude oil received at U.S. refineries, and petroleum products that entered into the United States for consumption, use or warehousing. The tax rate is the sum of the Hazardous Substance Superfund rate and the Oil Spill Liability Trust Fund financing rate. For calendar years beginning in 2024, the Hazardous Substance Superfund financing rate is adjusted for inflation. For calendar year 2024 crude oil or petroleum products entered after […]

By |November 15th, 2023|Categories: IRS|Comments Off on IRS Provides Tax Inflation Adjustments for Tax Year 2024
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