Author name: Richard Tullier, CPA

Wegmann Dazet’s Richard Tullier, CPA explains the tax implications of the 2021 advanced child tax credit payments and helps to answer “Claim it or opt out?”   In March 2021, the American Rescue Plan Act increased the child tax credit from $2,000 per child, up to as much as $3,600 per child for kids under

Richard Tullier, CPA explains that 3 – 7 years is a general guideline for record retention, if you find yourself asking “How long should I keep my tax records?” It was January 2006 and my grandparents had decided that although they were spared any damage from Hurricane Katrina, they wanted to move north of the

If your tax preparer said your extension is OK, then trust their instincts. Richard Tullier, CPA, tells us why it’s OK to extend your tax return.   Before I get to some of the many scenarios in which extensions make sense, here’s an analogy: It’s the day before a big test, but you just got

At a time when cash is likely at a premium, it is time to think about filing your tax returns for 2020 and also time to think about how to maximize your cash flow for 2021. Richard Tullierr, CPA explains why it’s not good to get a big refund check. We are bombarded nowadays with

Whether you’re starting a business or have been in business for years, you may have asked yourself this question at least once during your career: “CPA, Tax Preparer, Bookkeeper: What’s the Big Difference?” Wegmann Dazet Senior Tax Manager Richard Tullier discusses the difference amongst the three. People use these terms interchangeably, but the difference can

Richard Tullier, CPA explains year-end tax planning in the time of COVID: Throughout this year, I often have thought of a quote from Woody Allen: “If you want to make God laugh, tell him about your plans.”  I’d say substitute 2020 for God and the quote applies. While there have been many surprises this year,

By now, you have no doubt heard about the passage and enactment of the “Families First Coronavirus Response Act” (“Act”), from March 18, 2020. The Act was issued to give the first bit of relief to business owners and individuals affected by the unprecedented impact of COVID-19 on our lives and our financial stability. Here

  Richard Tullier, CPA and Senior Manager in our Tax Department, provides an update to  the recent IRS April 15 tax delay, for COVID-19 emergency relief: On March 20, 2020, the Department of the Treasury expanded relief for federal taxpayers affected by “ongoing Coronavirus disease 2019 pandemic.” Now, the due date for federal income tax