The One Big Beautiful Bill Act (OBBBA) made important updates to the tax treatment of business meals and certain employer-provided food and beverages. The biggest practical impact for many employers: starting January 1, 2026, many workplace meals and food programs that were historically deductible (or partially deductible) may now be fully nondeductible unless a specific...
Andrew Dorn joined Abeles and Hoffman P.C. in 2017 and serves as a Tax Supervisor. In his role, Andrew prepares and reviews a wide range of tax returns, including individual, entity, gift, and non-profit filings. He also supports clients in industries such as real estate, construction, and medical services, offering tax preparation and compliance assistance...
To Our Clients and Friends: As we head towards the end of 2025, under the newly enacted One Big Beautiful Bill (OB3), a number of key provisions and extensions create significant opportunities for both individuals and businesses to reduce taxes and strengthen their financial positions. This letter provides an overview of important planning strategies,...
Authored By: Brad Indelicato, CPA, ABV, CVA This guide explains how to enroll a trust in EFTPS. EFTPS requires trusts to enroll under the Business category. NOTE: The Electronic Federal Tax Payment System (EFTPS) is provided free by the U.S. Department of the Treasury. After you have enrolled and received your credentials, you can...
Michele Duvall, CPA, joined Abeles and Hoffman P.C. in 2012 and serves as a Tax Senior Manager. In her role, Michele supervises staff, prepares and reviews tax returns, manages client relationships, and assists with audit engagements, compilations, and financial statement reviews. She also provides specialized expertise in foreign asset reporting, including FACTA compliance and other...
Dear Clients and Friends, A new Executive Order will end paper checks for most federal payments and collections starting September 30, 2025. This means tax refunds, vendor payments, benefit checks, and even certain payments to the federal government (fees, taxes, fines) will move entirely to electronic funds transfer (EFT) — including direct deposit, debit/credit card...
Abeles and Hoffman, PC is excited to announce the following recent promotions: Michele Duvall has been promoted to Senior Tax Manager. Jacob Maret has been promoted to Tax Manager Nick Coco has been promoted to Senior Audit Associate These promotions are a testament to the dedication and excellence these individuals bring to their work each day. We are proud...
Dear Clients and Friends, On July 4, President Trump signed into law the sweeping One Big Beautiful Bill Act (OBBBA). This bill is a landmark tax and spending package that makes key provisions from the 2017 Tax Cuts and Jobs Act (TCJA) permanent, introduces significant changes for businesses and individuals, and redefines international tax...
Dear Clients and Friends, We are writing to share an important update released last week by the Internal Revenue Service and the Missouri Department of Revenue regarding the tax relief for individuals and businesses in parts of Missouri that were affected by severe storms, straight-line winds, tornadoes, and floodings that began on March 14,...
To our Clients and Friends: The less hectic summer season is a good time to consider steps to cut your 2025 tax bill. Here are some planning strategies to consider, assuming our current federal tax regime remains in place through 2025. Establish a Tax-favored Retirement Plan If your business doesn’t already have a retirement...