November Newsletter

Duffy Kruspodin (DK), the #13 California based CPA and business advisory firm, is delighted to announce that Partner-in-Charge, Los Angeles Donna Feder, CPA, EA, and Tax Partners Galina Berkovich, CPA and David Cox, CPA have been named as 2023 Top 100 Accountants on the Los Angeles Business Journal and CalCPA’s Top 100 Accountants list.

Rising costs are taking a toll on many American families. Fortunately, Uncle Sam offers some tax relief that may ease your family’s financial burden. Here are seven common tax breaks you may be able to claim — including the child and adoption credits, Section 529 college savings plans and the deduction for student loan interest.

Employee stock ownership plans (ESOPs) often are used by owners to help exit their business. But they’re not right for every company. Here are the basics on how these tax-advantaged retirement plans work, along with pros and cons to consider before establishing an ESOP.

To help decide on acceptable tenants, landlords are allowed to use consumer reports from credit bureaus and other agencies. But they must follow the requirements of the Fair Credit Reporting Act or risk costly penalties. Here are some issues to consider in order to avoid problems and penalties.

1. Making Cash Gifts in 2023 and 2024

2. How Life Affects Taxes

3. Last Chance to Minimize Your 2023 Tax Bill

4. Appointing Someone to Handle Your Tax Matters

5. 2024 Social Security Figures

With the many changes in the estate tax in recent years, you could be confused about the need to take steps with your own estate. But estate planning was never just about reducing estate taxes. It is also about ensuring that your estate is distributed according to your wishes and that your heirs are properly provided for. At a minimum, you probably need to take care of these important issues.