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Accounting, Tax & Finance Articles

Welcome to our Resources section, where you will find articles on accounting, tax, and finance for businesses and individuals, as well as resources to aid in business financial planning across a variety of industries we serve. Please contact us for personalized advice in accounting and finance. Maxwell Locke & Ritter is here to offer trusted guidance.

You may want to accelerate, or possibly even defer, deductible business expenses in 2021, depending on your specific situation and the potential impact of pending tax legislation on 2022 tax rates.

2021 has been another unpredictable and memorable year.  With all of the changes and proposed legislation to come, we have outlined a few 2021 year-end tax planning strategies for investors and individuals with estate and gift planning needs.

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Do you have significant investment-related expenses, including the cost of subscriptions to financial services, home office expenses and clerical costs? Under current tax law, these expenses aren’t deductible through 2025 if they’re considered investment expenses for the production of income. But they’re deductible if they’re considered trade or business expenses.

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The rules for deducting personal casualty losses on a tax return have changed through 2025, but you may still be able to claim a deduction if an event qualifies as a federally declared disaster.

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The long-anticipated tax proposals from the Ways and Means Committee in the House of Representatives were released on Monday, September 13, 2021. We have included some highlights from these proposals.

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The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules.

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Maxwell Locke & Ritter LLP has been named 2021’s “#1 Best Mid-sized Accounting Firm to Work for” by Accounting Today*. Each year, the publication works with Best Companies Group to create their “Best Accounting Firms to Work for” list which identifies firms that have excelled in creating exceptional workplaces.

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Maxwell Locke & Ritter has once again been honored as a Best of the Best Firm by INSIDE Public Accounting.

The IRS has released new guidance for employers claiming the Employee Retention Credit in the third and fourth quarters of 2021.

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Timing counts in financial reporting. Here’s an overview of the rules that apply to revenue and expense recognition under U.S. Generally Accepted Accounting Principles (GAAP).

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