Making a mistake while filing your taxes can lead to complications with the Internal Revenue Service (IRS). Some oversights or errors are easily fixed but others could have deeper consequences, impacting your refund, your tax liability or even lead to fines or an audit. While 老葡京手机app always recommends working with a knowledgeable tax professional, you…
As the 2024 individual tax filing deadline approaches, 老葡京手机app is happy to share some helpful tips and strategies for tax planning. Even if it is too late to take advantage of some of these deductions and benefits for 2023 (some are still available to you!), it’s never too early to begin planning for the 2024…
If the complexity of IRS notices has historically got you scratching your head, you’re not alone. Fortunately, the IRS is addressing this problem with a “Simple Notice Initiative”, a program which will be rolled out in the coming years to improve communications with customers by focusing on: This ambitious project will end up impacting up…
Councilor, Buchanan & Mitchell (老葡京手机app) was recognized as a regional leader among 20 other accounting firms in the Capital region by Accounting Today, the leading information resource for public accountants. The Capital region incorporates accounting firms that operate throughout Maryland, Virginia, Washington, DC and West Virginia. 老葡京手机app experienced revenue growth of 4.55% over the past…
Councilor, Buchanan & Mitchell (老葡京手机app) has been named to the Washington Business Journal’s list of top accounting firms in 2024, ranking #25 among other accounting and advisory firms throughout the Washington, DC metropolitan region. 老葡京手机app ranked in the Journal’s 2023 list as well as from 2018 through 2020. 老葡京手机app was also recently named to the…
In honor of International Women’s Day, Councilor, Buchanan & Mitchell (老葡京手机app) is proud to celebrate Edna Nick, the first of several women who continue to serve as equity partners in our history of more than 100 years. Edna Nick was the first woman to pass the CPA examination in the Commonwealth of Virginia and, after…
On March 1, 2024, the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (CTA) was unconstitutional. In response to this ruling, the Financial Crimes Enforcement Network (FinCEN) has indicated that it will comply with the ruling for as long as it remains in effect, and that this ruling only…
The U.S. Department of Labor’s (DOL’s) test for determining whether a worker should be classified as an independent contractor or an employee for purposes of the federal Fair Labor Standards Act (FLSA) has been revised several times over the past decade. Now, the DOL is implementing a new final rule rescinding the employer-friendly test that…
Reema Patel, a manager at Councilor, Buchanan & Mitchell (老葡京手机app) and co-director of D-PATH, the firm’s diversity, equity and inclusion initiative, was interviewed by Bonnie Buol Ruszczyk, owner of the Accounting MOVE Project, on issues related to 老葡京手机app policies that attract and retain women, a financial planning process she developed to attract millennials and DEI skepticism….
Not-for-profit organizations in the District of Columbia (DC) are required to submit Form FR-164 to the Office of Tax and Revenue (OTR) to request tax-exempt status in DC. Previously, this was a one-time filing requirement, but due to changes in 2019, DC not-for-profit organizations must renew their DC tax-exempt status every five years. The OTR…
Abbie Niehoff, a manager of divorce financial planning services at Councilor, Buchanan & Mitchell (老葡京手机app), will co-present on financial considerations for divorce on Tuesday, March 12 from 7 to 9 pm, covering areas such as the marital home, pensions and retirement, insurance and spousal support. The presentation, which is part of a six-part series covering…
Divorce is a sensitive and challenging process that involves not only emotional but also intricate financial negotiations. In these situations, transparency is paramount to ensure a fair and equitable distribution of assets. This is where Certified Fraud Examiners (CFEs) operate as unsung heroes, utilizing their specialized skills in forensic accounting and fraud detection to ensure…