HT2 CLIENT NEWSLETTER
IRA ACT PROVISIONS FOR SMALL BUSINESS

The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, contains many provisions related to climate, energy, and taxes. There has been a lot of media coverage about the law’s impact on large corporations. For example, the IRA contains a new 15% alternative minimum tax on large, profitable corporations. And the law adds a 1% excise tax on stock buybacks of more than $1 million by publicly traded U.S. corporations. But there are also provisions that provide tax relief for small businesses. READ MORE HERE
HOW THE STOCK MARKET DIP BENEFITS ROTH IRA CONVERSIONS

Most individuals saving for retirement outside of a defined work plan use an Individual Retirement Account, better known as an IRA. These accounts come with two vastly different types, depending on what tax benefits account holders would like to take advantage of. The first, the Traditional IRA, allows the account holder to deduct contributions made during the tax year, thus lowering their adjusted gross income (AGI). The Roth IRA, on the other hand, is funded with post-tax dollars, and money can be withdrawn after retirement age completely tax-free.

Don’t fret! If the Roth IRA sounds like a better option for you, but you have money in a Traditional IRA account, you could potentially convert it to a Roth IRA. Below, you’ll discover the basics of how to convert the account and why now might be a good time to do so. READ MORE HERE
PARTNER COMMUNITY SPOTLIGHT- KIM SPINARDI

Kim Spinardi is a current board member and advisor for the San Diego State Alumni Association.  Kim's role on the alumni board is to carry out the mission of instilling the principle of ‘Aztec For Life’ by celebrating the achievements of our alumni and inspiring a legacy of loyalty to the university. The alumni board greatly assists with forging beneficial and measurable relations between Aztec alumni and San Diego State University to continue to bring engagement from current alumni back to the university. Kim is also the Alumni Board rep on the Intercollegiate Athletic Council (IAC) which serves as the primary advisory body to the President on intercollegiate athletics. It represents all segments of the University community including improving and strengthening the connection between academics and intercollegiate athletics.  VISIT THE SDSU ALUMNI WEBPAGE
THE NEW 1099KS ARE COMING: ARE YOU READY?

A key provision of the American Rescue Plan Act passed in 2021 includes lowering the thresholds that trigger a Form 1099-K – Payment Card and Third-Party Network Transactions. This means businesses and individuals may receive this form for tax year 2022, something they may not have seen in previous years. READ MORE HERE
WE ARE HIRING!!!
Are you ready to take your career in a new direction? Hamilton Tharp is the perfect place for that! We are looking for ambitious employees like yourself. Learn more about the perks, benefits & career opportunities by visiting our website: https://ht2cpa.com/careers/
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NEWS YOU CAN USE
Pay your HT2 invoice HERE
HT2 Resources Page - We publish articles there too! READ MORE HERE 
2021-2022 Tax Planning Guide READ MORE HERE
Taxpayers should be on the lookout for new scams  READ MORE HERE
E-signature for individual tax returns available to our clients VIDEO PRESENTATION