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March 2024

Important Reminders and Dates


Deadline to Submit All Tax Documents to HT2 is Friday, March 22, 2024

All supporting documents for tax preparation must be submitted to our office no later than March 22, 2024, to ensure your tax return is completed by the April 15 deadline. However, in some cases, we may still need to file an extension to ensure accuracy and compliance. If that's the case, your tax preparer will contact you.

BETTER TAX BREAK WHEN APPLYING THE RESEARCH CREDIT AGAINST PAYROLL TAXES

The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to certain eligible small businesses. Claiming the credit involves complex calculations, which we’ll take care of for you.



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WHAT’S THE BEST ACCOUNTING METHOD ROUTE FOR BUSINESS TAX PURPOSES?

Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes. The cash method often provides significant tax benefits for eligible businesses, though some may be better off using the accrual method. Thus, it may be prudent for your business to evaluate its method to ensure that it’s the most advantageous approach.


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MAXIMIZING QCDS FOR STRATEGIC GIVING AND TAX BENEFITS

In the landscape of financial planning and tax optimization, Qualified Charitable Distributions (QCDs) stand out as a powerful mechanism for individuals looking to enhance their philanthropic impact while optimizing their tax situation. This article delves into the core of QCDs, providing insights into how they can serve as a strategic tool in your charitable giving and financial planning


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HT2 SUPPORTS WOMEN ON ALL COURTS!

On January 27th, in honor of Girls and Women in Sports Day, donors who support the SDSU Athletics Women's Fund were honored at the women's basketball game. Thank you to all supporters who have made an investment in women's athletics. We spy Judy Hamilton!


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Timely Resources & Links

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