Author Archives for Anthony Longano

2024 Year-end Letter

Dear Clients and Friends, As the 2024 year concludes, it is the best and last opportunity to implement and maximize... View Article

OHIO ANNOUNCES JANUARY 1, 2022, MINIMUM WAGE

The state of Ohio has provided a notice stating that, effective January 1, 2022, the minimum wage rate for non-tipped... View Article

Retirement Plan and Other Benefit Limitations

The Internal Revenue Service announced the dollar limitations for retirement plans and other benefits. 1  This limit and the catch-up... View Article

New Cryptocurrency Asset Information Reporting

The Infrastructure Investment and Jobs Act of 2021 (IIJA) was signed into law on Nov. 15, 2021. The IIJA includes... View Article

IRS Online Tools

In an information release (IR), the IRS announced a new identity verification process that taxpayers will use to access IRS... View Article

TAX WITHHOLDING: THE NEW FORM W-4

Form W-4, Employee’s Withholding Certificate, has been redesigned. Previously, income tax withholding was based on an employee’s marital status and withholding... View Article

2021 ADVANCED CHILD CREDIT

Recently, there were changes made to the child tax credit that will benefit many taxpayers. As part of the American... View Article

2021 HSA and HDHP Limits

2021 FICA Wage Base

SOCIAL SECURITY (FICA) TAXABLE EARNINGS WAGE BASE The taxable wage cap is subject to an automatic cost-of-living adjustment (COLA) each... View Article

401(k) Plan Limits