7.6.2023 | Issue 116

Santora CPA Group's

Weekly Newsletter!


You'll find links to the Alerts and Useful Info we've posted on our website, which includes time-sensitive information and any other issues that might impact you or your business, as well as any news from around our office.

Important Upcoming Dates

9.15.2023: Corporation (6/30), S Corporation and Partnership Tax Returns Extended Due Date (12/31)

10.2.2023: Fiduciary Tax Returns Extended Due Date (12/31)

Your Weekly Catch-Up

Are You Married and Not Earning Compensation? You May Be Able to Put Money in an IRA

When one spouse in a married couple is not earning compensation, the couple may not be able to save as much as they need for a comfortable retirement. In general, an IRA contribution is allowed only if a taxpayer earns compensation. However, there’s an exception involving a “spousal” IRA. It allows contributions to be made for a spouse who is out of work or who stays home to care for children, elderly parents, or for other reasons, as long as the couple files a joint tax return.


When Can Seniors Deduct Medicare Premiums on Their Tax Returns?

Reduce the Impact of the 3.8% Net Investment Income Tax


Firm News

Phillie Phanatics!

On Saturday, June 24th,Tara Bolinski took her husband, Rob, their son, Walter, and her father-in-law, John, to the Phillies game vs. the New York Mets. John, who is a Mets fan, was excited to see the Mets break a three -game losing streak with their 4-2 win. The Bolinskis also represented Delaware, as Walter insisted that everyone wear their Blue Rocks hats to the game!

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