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August 5, 2022

By Paul Bonner July 28, 2022 A path toward a long-sought congressional vote on a federal budget reconciliation bill appeared to open Wednesday as Sen. Joe Manchin, D-W.Va., endorsed fast-track legislation that would contain a variety of tax provisions. Manchin’s buy-in, which surprised observers and even some members of his own party, came with his […]

May 20, 2022

EXECUTIVE SUMMARY   Besides providing a tax-favorable option for taxpayers to pay out-of-pocket medical expenses, HSAs can be used as a flexible tax-favored investment vehicle. Annual contributions to an HSA are limited in 2022 to $3,650 for an individual self-only plan or $7,300 for a family plan ($3,600 and $7,200, respectively, in 2021). An additional […]

January 13, 2022

Importance of purchase price allocation in real estate transactions By Jennifer M. Ray, CPA, Frazier & Deeter LLC, Tampa, Fla. December 1, 2021 The bright pink house for sale was an eye-catcher. Built in the 1960s, this not-really-updated two-bedroom, one-bath house was purchased in 2001 for $100,000. In 2019, the asking price was $300,000, but […]