Are you a Locum Tenens physician?

Are you wondering how to navigate tax season as an independent contractor? Andrew Schwartz, CPA, recently presented a webinar for Barton Associates that covers many great tips to making the process as easy as possible. Please watch the recording of the webinar for the...

SECURE Act Deadline Reminder

By Alex E. Oliver, Wealth Manager, First National Corporation The SECURE Act changed the deadline for establishing a profit sharing plan or cash balance plan in order for employer contributions to be made for the 2021 tax year. Previously, this would have been...

Major Changes to the Public Service Loan Forgiveness Program

The U.S. Department of Education recently announced major changes to the Public Service Loan Forgiveness Program (PSLF). The PSLF program forgives the remaining balance on an individual’s federal Direct Loans (a federal student loan made by the U.S. Dept of Education)...

Annual Gift Tax Exclusion Increased to $16,000

Beginning in 2022 the annual gift tax exclusion increases by $1,000 to $16,000 and to $32,000 for gifts jointly given by taxpayers and their spouse.  This increase in the annual exclusion threshold is the first since the $1,000 jump for the 2018 tax year. For annual...

Processing delays continue throughout the IRS

Amended tax returns continue to be backlogged. Typically, taxpayers can expect amended tax returns to be processed within 16 weeks.  However, as of December 11, 2021, the IRS has a backlog of more than 2.4 million amended tax returns waiting to be processed by...