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During the first year of the pandemic, many homeowners spent their downtime upgrading their homes. 2020 alone saw a three percent uptick in spending on home improvements – to the tune of nearly $420 billion nationwide. This included modifications for remote work, online schooling, and leisure activities at home. Between remodeling, high inflation, and today’s… View Article

Jacob Andrews joined the Ross Buehler Falk & Company (RBF) team in 2022 as an intern in the firm’s tax department. He has since joined the firm as a full-time staff member. In this role, he works with nearly all the firm’s tax clients, ensuring efficient returns and high-quality tax and compliance services. Jacob is… View Article

Patrick Collins joined the Ross Buehler Falk & Company (RBF) team in 2022 as a manager in the firm’s tax department. In this role, he works with nearly all the firm’s tax clients, ensuring efficient returns and high-quality tax and compliance services. Patrick has extensive knowledge of the tax rules for fixed assets and business… View Article

Ross Buehler Falk & Company, LLP is pleased to announce the addition of Patrick N. Collins, CPA to their professional team.   Collins joins the firm as a Manager in the firm’s Tax Department. In this capacity, he works with nearly all the firm’s tax clients, ensuring efficient returns and high-quality tax and compliance services…. View Article

The Internal Revenue Services (IRS) recently released an increase in the optional standard mileage rates for the final six months of 2022. These rates are used to calculate the deductible cost of operating an automobile for business, charitable, medical, or moving purposes. The term “automobile” includes any car, van, pickup, or panel truck. As of… View Article

Are you familiar with 401(k) retirement funds? More and more employers are offering 401(k) plans as an employee benefit, and if you have the option and are not currently taking advantage of it, it may be time to rethink your savings strategy. Not only do these popular plans offer the advantage of using pre-tax dollars… View Article

The Bureau of Labor Statistic’s Consumer Price Index rose by 8.5 percent year-over-year ending March 2022, leading most economists to agree that inflation is going to be with us for a while. With inflation seeming not to abate, at least in the near term, how will different types of investments react to inflation that is… View Article

If you own rental real estate, its classification as a trade or business rather than an investment can have a big impact on your tax bill. The distinction is especially important because of the 20% Section 199A deduction for certain sole proprietors and pass-through entity owners. The 199A deduction is available for qualified business income… View Article

If you think that education credits are just for sending your children to college, think again—the credits are available to you, your spouse (if you are married), and your dependents. Even if you or your spouse is only attending school part time, you still may qualify for a tax credit. There are two education-related credits… View Article

If you’re 40 or 50 and aren’t where you’d like to be in terms of saving for retirement, don’t despair. You can remedy this situation. And since people are living well into their 80s and 90s, it’s never too late to start. Here are a few things you can do. Max Out Your 401(k) This… View Article