When parents go through a separation or divorce, one of the many complex issues they face is determining who gets to claim the children as dependents for tax purposes. This decision can significantly impact the financial situation of both parents, as it affects eligibility for...
In recent years, wildfires, hurricanes, and other natural disasters have become increasingly frequent and devastating, leaving many individuals and families grappling with the loss of their homes and personal property. For those affected by such disasters, particularly in areas designated as federal disaster zones, understanding...
QuickBooks is one of the most powerful tools on the market for managing small business finances, but getting started can feel daunting. Setting up your account properly and taking advantage of key features is the best way to save time and avoid headaches when tax...
In an increasingly globalized world, many U.S. taxpayers find themselves with financial interests or assets located outside the United States. Whether through inheritance, investment, or business ventures, these foreign assets come with specific reporting requirements mandated by the Internal Revenue Service (IRS) and the Financial...
There are significant tax benefits available to compensate for individuals with disabilities. This article breaks down the benefits into three categories: As they apply to an individual with disabilities, the parent with a disabled child or dependent, and a business that accommodates individuals with disabilities. AS...
Remember when “downsizing” was something you did to your closet every spring? Now, it’s a buzzword for a major financial move: selling the big family home to streamline expenses, pocket extra cash, or fund that dream RV trip. Especially for Baby Boomers and Gen Xers...
Trent Herndon joined Blackman & Sloop as a Senior Associate in our Client Accounting and Advisory department in February 2024. He was initially drawn to the firm’s strong commitment to work-life balance. Since joining, he has fully embraced its culture of continuous growth and collaboration,...
Here is what the firm has been up to since our last newsletter. Promotions / New Hires: Megan Simard joined the team on 2/17 as an Audit Manager. Conferences / Seminars / Events: Over the past few months, we’ve enjoyed visiting several schools: Accounting...
