2024 Mid Year Newsletter

Dear Clients & Friends,

Today it was 85 degrees. Last week there were frost warnings. Mother nature can’t decide if it is Spring or Winter. All indications are that spring is slowly winning out with the dogwoods and azaleas putting on a show. Summer and trips to the beach are right around the corner. We know you will be looking for reading material while you are relaxing, so we have enclosed our mid-year newsletter. In it, you’ll find advice related to tax planning for 2024.

There are many tax changes taking effect in 2024 and 2025 that may change your current situation. As always, planning is one of the important keys to having a successful tax result. Some advice included in the newsletter is to maximize tax-advantaged retirement accounts, leverage catch-up contributions, and consider Health Saving Accounts. This newsletter also places an emphasis on tracking home improvements; it is important that you keep track of your renovations as it may serve to benefit you when you eventually sell your home.

April 15th came fast this year and it was necessary to file many more extensions than we like. Extended individual tax returns are due on October 15th. If you have not brought in your tax organizer and supporting documents, we recommend that you do so sooner than later. We are still down one staff member and continue to seek the right person to bring on board. If you know someone that has some tax preparation and accounting experience, then please send them our way.

We can also upload tax returns and related information to a secure portal called Intuit Link. This method is far more secure than an email. We encourage you to call or email us if you are interested so that we can invite you to a portal. You may email your favorite staff member or our general email at info@rgscpa.com, and we will set you up.

Please contact our office if you have questions concerning any information in this newsletter. We’re always here to help our clients. We are no longer open on Saturdays; should you need an appointment on the weekend, then please contact our office in advance to check with our staff’s availability.

As always, we appreciate your continued patronage! Please remember that if you have been exposed and/or tested positive for Covid, Flu or any other contagious illness, then please contact our office prior to any appointments here or at your place of business to reschedule.

2024 Mid Year Newsletter – Starkey & Company

                                                                                                                                          Sincerely,

                                                                                                                                          Starkey & Company, PA