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Welcome to Don Brooks & Associates, Inc. Online Office

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Explore our Online Office. There are many different ways to use the services here. You can:

  • Learn about the services we offer.
  • Stay Alert to tax and accounting news.
  • Link to a variety of news and other helpful sites.
  • Take Advantage of numerous tax tips.

Please browse the pages of this site and feel free to e-mail any questions, suggestions or other feedback. This web site is meant to be an extension of services provided to you.

Visit often as additional news and helpful information will be continually added in an effort to serve you better.

Announcements

Important Moves to Consider When Interest Rates Change

A domino effect occurs each time the Federal Reserve changes interest rates. An increase leads to higher rates for consumers when they borrow, while paving the way to better returns for savings accounts. A decrease results in paying less interest when borrowing money, but also causes a drop in how much your savings can earn.

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Avoid a Penalty and Tax Surprise when Withdrawing from Retirement Accounts

Retirement accounts that provide tax breaks have very specific rules that must be followed if you want to enjoy the financial rewards of those tax breaks.

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Yes! You Owe Tax on That

6 Surprising Taxable Items

If something of value changes hands, you can bet the IRS considers a way to tax it. Here are six taxable items that might surprise you:

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SMALL BUSINESS ALERT: New Federal Reporting Required

Especially important for new business startups

Beginning in 2024, many small businesses will have to report information about their owners to the Financial Crimes Enforcement Network (commonly referred to as FinCEN), a bureau of the U.S. Department of the Treasury that collects and analyzes information to help fight financial crimes. Here is what you need to know.

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News

Homeowner Alert! Review Your Tax Forms

New tax rules are creating confusion

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Common Missing Items = DELAYS

Review these common causes of filing delays

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IRS revises and updates frequently asked questions about Form 1099-K

WASHINGTON — In an effort to provide more resources for taxpayers during this filing season, the Internal Revenue Service today revised frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third Party Network Transactions in Fact Sheet FS-2024-03.

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Taxpayers should continue to report all cryptocurrency, digital asset income

WASHINGTON — The Internal Revenue Service today reminded taxpayers that they must again answer a digital asset question and report all digital asset related income when they file their 2023 federal income tax return, as they did for their 2022 federal tax returns.

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Tuesday, 16th April 2024
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What is an Enrolled Agent and why should I care?

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