McAuley & Crandall, PA
 

March 2025 Newsletter



Dear Valued Client,

As March progresses, tax season is in full swing, and our team is here to provide continuous support during this pivotal time and busy news cycle. It's crucial to remain organized and well-informed on key tax and business matters. We're committed to delivering the latest insights and guidance to help you navigate this busy period with ease. This month's newsletter discusses mid-tax season layoffs at the IRS, zero-based budgeting to help streamline your expenses, how to deal with IRS wage garnishment if it happens to you, tax implications of downsizing, and much more.

Should you find yourself at a crossroads in your financial journey or have pressing questions about the topics covered, please don't hesitate to reach out. We're here to guide you toward informed decisions that align with your financial goals.

And remember, our services extend to your colleagues, family, and friends. Should they require assistance, we're just a phone call away. We remain committed to identifying every opportunity to ensure our client's prosperity. Your kind reviews and referrals are invaluable to us.

 





IRS Layoffs in Mid-Tax Season: Potential Impacts on Tax Filings and Refund Delays

In a significant shift impacting the tax landscape, the Internal Revenue Service (IRS) is projected to lay off approximately 6,700 employees right in the middle of a crucial tax season. Will it affect your refund?

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Discover How Millions Track Their Tax Refunds Online Instantly!

The "Where's My Refund" tool is accessible via the IRS website and the IRS2Go mobile app.

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Zero-Based Budgeting: The Bold Way to Stop Wasting Money and Start Growing

Learn how zero-based budgeting helps small businesses uncover hidden waste, justify every expense, and channel savings into meaningful growth.

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Navigating the Complex Tax Maze for Student-Athletes

The world of college athletics has undergone significant changes in recent years, particularly with the introduction of Name, Image, and Likeness (NIL) income opportunities for student-athletes.

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How the Trump Administration's Tariffs Are Shaking Up SMBs—and What You Can Do About It

Discover how evolving U.S. tariffs under the Trump administration impact your SMB’s budgeting, tax strategy, and supply chain—and learn how to craft a plan that keeps your business on solid ground.

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Not Required to File a Tax Return? You May Be Missing Out on Sizeable Tax Credit Refunds

Many individuals may find themselves earning below the income thresholds that require them to file a federal income tax return.

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Maximizing Small Business Deductions: A Guide for Savvy SMB Owners

Discover the most overlooked SMB tax deductions—from vehicle expenses to home office write-offs. Elevate your financial game with this comprehensive guide.

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Tax Implications of Downsizing: What Baby Boomers and Gen X Need to Know

Ready to sell the family home? Discover capital gains exclusions, deduction hacks, and smart reinvestment strategies to keep more money for your golden years.

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Maximizing Tax Benefits A Guide for Disabled Individuals and Their Families

There are significant tax benefits available to compensate for individuals with disabilities. This article breaks down the benefits into three categories.

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Unveiling the Hidden Costs: How Non-Compliance in Foreign Asset Reporting Could Lead to Substantial Penalties

In an increasingly globalized world, many U.S. taxpayers find themselves with financial interests or assets located outside the United States. Whether through inheritance, investment, or business ventures, these foreign assets come with specific reporting requirements mandated by the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN).

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IRS Wage Garnishment: What It Means, Why It Happens, and How You Can Stop It

Struggling with an IRS wage garnishment? Learn the proven steps to stop it, protect your paycheck, and reclaim your financial future. Get expert insights and personalized help today.

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QuickBooks Made Simple: 5 Expert Tips for Getting Started

Learn how to customize QuickBooks, automate transactions, and leverage reports to streamline your bookkeeping and prepare for a stress-free tax season.

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March 2025 Individual Due Dates

Here are the March 2025 Individual Due Dates

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March 2025 Business Due Dates

Here are the March 2025 Business Due Dates

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McAuley & Crandall, PA
7200 W 132nd St Ste 160
Overland Park, KS 66213
Ph: (913) 239-9130
jackie@mccpas.com
 
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