Unlocking Tax Benefits: How Nonprofits Can Benefit from the Inflation Reduction Act

When the Inflation Reduction Act (IRA) was enacted in late 2022, many tax-exempt organizations may have overlooked its potential benefits assuming it was irrelevant to them. Contrary to this belief, the IRA offers provisions that can be advantageous for tax-exempt entities. Let’s delve into the details to explore how your nonprofit can leverage these tax […]
Maximizing Your QBI Deduction: Seize the Opportunity Before It Expires

At Accavallo & Company, we understand the importance of leveraging every available tax-saving opportunity. The Qualified Business Income (QBI) deduction presents a significant chance for eligible businesses to reduce their tax liability. However, this deduction is scheduled to sunset after 2025. Hence, if you qualify, it’s crucial to capitalize on this benefit while it’s still […]
The Truth about Trusts

In the realm of estate planning, navigating the intricacies of trusts and their implications on probate and tax matters is essential for individuals and families seeking to safeguard their assets and legacy. As trusted advisors, CPAs play a pivotal role in guiding clients through the complexities of estate management, offering expertise in optimizing tax strategies, […]