Ready For Your Mid-Year Check-In?
For those of you on our monthly maintenance advisory package, this is just a friendly reminder that we’ll be reaching out to you soon to schedule your mid-year check-in. Why? To make sure your business is on the right track, opportunities for tax savings are not overlooked, and to communicate the progress towards reaching your goals.
Check-ins give us the chance to look for new advisory opportunities. Our meeting will open the doors of communication to deepen the relationship, build trust, and strengthen rapport. Together, we can proactively engage possibilities to improve strategies and tactics with the intent of exceeding your goals.
Topics We’ll Cover in Our Check-in
- Client/Firm relationship. Evaluating our current relationship and how could it be better.
- Changes. Addressing key questions or concerns and determining how they can be solved. What’s new and what areas need help?
- Strategy. Identifying any further tax savings strategies, covering any tax law changes, evaluating financial results, exploring new opportunities, and more!
If you have any questions or feedback, don’t hesitate to contact us! Otherwise, we’ll be reaching out to you soon to schedule your mid-year check-in.
Let us know if you are interested in a midyear check-in or want to learn more about your monthly maintenance advisory package. The due date for extended business returns is 9/15, and the due date for extended individual returns is 10/15. Third quarter estimated tax payments are due on 9/15.
The Secure Act 2.0
A new bill is working its way through the Senate and the House. As with any legislation, there’s a lot that goes into it, but here are some quick points:
- Possible increase to age 75 for required minimum distributions from retirement accounts.
- A 50% credit matching retirement plan contributions up to $2,000.
- More allowed withdrawals for certain emergency expenses.
- Higher catch-up contributions.
- Penalty-free withdrawals for victims of domestic abuse.
If you want more information on The Secure Act 2.0, we can discuss it at your check-in, or feel free to contact us to discuss it sooner! We’ll be happy to answer any questions and address how the bill could affect you.
UPDATE: The IRS Has a Huge Backlog of Tax Returns
That’s right, the IRS still has millions of unprocessed tax returns in its queue. At the end of May, it was as large as, “21.3 million unprocessed paper tax returns, an increase of 1.3 million over the same time last year.” Learn more here!
New Mileage Rates Are in Effect as of 7/1/2022 (Cents/Mile)
|Purpose||1/1/22 – 6/30/22||7/1/22 – 12/31/22|
Accountants & CPAs Wanted!
We’re always looking for great accountants and CPAs to join our team. If you know anyone who’s interested in a new opportunity, we would love an opportunity to speak with them! Check out our Careers page for more information.
MD LEWIS LLC is a small boutique CPA firm. We work primarily with businesses helping them make better decisions about their business finances including profits, taxes, and cash flows. We work closely with small business owners wanting to make more money, pay less tax, and spend more time on the things they love to do.