APRIL 2023
Welcome to this month's edition of the Tax and Business Alert. Our goal is to provide you with current articles on various tax and business topics. The articles are intended to keep you up to date on trends and issues that may impact your business and personal financial affairs.  Please contact us if you have questions about any of the issues discussed.

Previous Issue


In some cases, homeowners move to new residences, but keep their present homes and rent them out. Homeowners who are considering this are probably already aware of the financial risks and rewards of doing so. However, they should also know that renting out a personal residence carries potential tax benefits and pitfalls.

Spring has sprung — and summer isn’t far off. For businesses that typically hire minors for summer jobs, it’s a good idea to brush up on child labor laws. The U.S. Department of Labor’s Wage and Hour Division recently announced that it’s stepping up efforts to identify child labor violations in the Salt Lake City area. The news serves as a good reminder to companies nationwide about the many details involved in employing children.

No one likes surprises when filing a tax return. One thing that catches many older people off guard is getting taxed on their Social Security benefits. This article explains how taxpayers can calculate provisional income to determine whether their Social Security income is indeed subject to taxation.

Many people are distressed to find they owe money when they file their federal tax returns. When that happens, taxpayers might want to change their withholding so that it doesn’t happen again the following year. Another reason to consider adjusting withholding is when a taxpayer gets a big refund, which essentially means the government got a tax-free loan of the taxpayer’s money.

This calendar notes important tax deadlines for the 2nd quarter of 2023.

Important Information: The information contained in this newsletter was not intended or written to be used and cannot be used for the purpose of (1) avoiding tax—related penalties prescribed by the Internal Revenue Code or (2) promoting or marketing any tax—related matter addressed herein.

The Tax and Business Alert is designed to provide accurate information regarding the subject matter covered. However, before completing any significant transactions based on the information contained herein, please contact us for advice on how the information applies in your specific situation. Tax and Business Alert is a trademark used herein under license. © Copyright 2023.