As the world continues to shift to a more paperless system, the IRS offers a multitude of ways to make electronic tax payments. While the system of mailing paper checks still works, making online tax payments offers individuals a different option to make such payments. There a several methods that allow you to make digital… Read More »

It’s been said that ‘With great power comes great responsibility.” Bryan Junge, with CPA Consulting Group, LLP may not agree that he has a lot of “power,” but he does view it as his responsibility to give back to the community of which he is a part. Because of this, Bryan recently began serving on… Read More »

Traditional IRA distributions are generally taxable in the year you receive them.  However, there are a few exceptions that can make the distribution non-taxable.  One of those options is to make a qualified charitable distribution. A qualified charitable distribution (QCD) is a nontaxable distribution from your IRA account made directly by the trustee of your… Read More »

Bill Cubin, a partner at CPA Consulting Group, LLP believes in human beings taking care of each other, especially when it comes to children.  For more than a year, Cubin has served on the Board of Directors for St. Joseph’s Children’s Home, in Torrington, Wyoming.  St. Joseph’s, per their website, is a “private, non-profit psychiatric… Read More »

With the passage of the Tax Cuts and Jobs Acts (TCJA) in 2017, major changes were made in regard to bonus depreciation. The law change increased the deduction from 50% to a 100% deduction of the purchase price of eligible assets in the year of acquisition. This was a major change of the law, as… Read More »

What is IRMAA? It is the Income Related Monthly Adjustment Amount (IRMAA) to Medicare B and Medicare Drug coverage amounts that are paid monthly, either by a deduction from a person’s Social Security check or paid directly to Medicare.  These are not premiums paid for separate supplemental health and drug coverage plans or Medicare Advantage… Read More »

Inflation has skyrocketed during the previous 18 months, reaching 40-year highs this summer. It is currently above 8% on an annual basis. Inflation is essentially caused by too much money in the hands of buyers and not enough goods to purchase in the marketplace. Government-mandated Covid shutdowns decreased the supply of goods worldwide. In addition,… Read More »

As many of you have heard in the news, the Biden-Harris administration has been working on a one-time student debt relief plan. The plan allows for a maximum of $10,000 in debt relief to non-Pell Grant recipients and a maximum of $20,000 in debt relief for Pell Grant Receipt. The following are a couple of… Read More »

Since the Affordable Care Act (ACA) was passed in 2010, reduced-cost health insurance premiums are offered through the online marketplace.  However, through 2020 you did not qualify for those reduced premiums if your household income exceeded 400% of the federal poverty level based on the number of people in your household.  This was a hard… Read More »