We are thrilled to feature Justin Stremme in our Employee Spotlight this month. Justin joined Blackman & Sloop in 2023 as a Senior Audit Associate. He chose Blackman & Sloop because of the welcoming atmosphere he experienced during the interview process. The ease of conversation...
Here is what the firm has been up to since our last newsletter. Promotions / New Hires: On May 14, we welcomed our four summer Interns: Vincent Ruggiero, Todd Hammett, Aji Njie, and Bri Berry. On that same day we also welcomed Lindsey Beane, who...
The tax code places limits on the amounts that individuals can gift to others (as money or property) without paying taxes. This is meant to keep an individual from using gifts to avoid the estate tax that is imposed upon the assets owned by the...
When tax season rolls around every year, many pet owners wonder if they can get a tax break for their furry companions – after all, “pet parents” often consider their fur babies to be as much a part of the family as actual children. Pet expenses...
A frequent question, and a situation where taxpayers often make tax mistakes, is whether it is better to receive a home as a gift or as an inheritance. It is generally more advantageous tax-wise to inherit a home rather than to receive it as a...
Ditching manual transaction entry should be your number one priority now that QuickBooks Online streamlines the process of importing transactions from your bank. When you manually input transactions, you open the door to data transposition errors, potentially leading to inaccuracies in customer billing, reports, and...
In an effort to prevent high-income parents from exploiting tax benefits by shifting their investment income to their children, who typically fall into lower tax brackets, the U.S. Congress introduced the "Kiddie Tax" in 1986. While not officially termed as such in the tax code,...
One of the more insightful quotes of baseball great Yogi Berra was, “If you don’t know where you’re going, you’ll end up someplace else.” When you’re young, first starting out in life and career, the path to professional success and personal fulfillment isn’t always clear. Most...
The current American economy is characterized by inflation, rising credit card debt, and the looming threat of a recession. As a result, small to medium-sized business owners face many challenges. A recent report indicating a GDP growth of 1.6% in the first quarter of 2024...
