Ulshoeffer CPAs, PLLC

07/19/2025

We’re thrilled to announce the launch of our new website introducing our new fractional CFO services designed to empower small businesses! We help you navigate today’s dynamic business landscape with strategic budgeting, forecasting, and cash flow management. Our tailored, high-level expertise fuels confident growth for small businesses, exclusively through our fractional CFO package. Visit https://ulshoeffercpas.com/ to explore our new look and see how we can help drive your success. Ready to transform your financial future? Let’s connect!

01/09/2024

The IRS announced that on Monday, January 29, 2024, it will begin accepting and processing 2023 returns. This year, the tax filing deadline for most taxpayers is April 15, 2024. However, taxpayers in Maine and Massachusetts will have until April 17 due to the Patriot’s Day and Emancipation Day holidays and taxpayers in federally declared disaster areas may also have more time to file.

IR-2024-04, Jan. 8, 2024 — The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation’s 2024 tax season when the agency will begin accepting and processing 2023 tax returns.

11/01/2023

2024 Retirement-related inflation adjustments have just been released by the IRS.

https://www.irs.gov/newsroom/401k-limit-increases-to-23000-for-2024-ira-limit-rises-to-7000 #:~:text=Highlights%20of%20changes%20for%202024,to%20%2423%2C000%2C%20up%20from%20%2422%2C500.

IR-2023-203, Nov. 1, 2023 — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023.

10/24/2023

On Oct. 4, 2023, Massachusetts Gov. Maura Healey signed House Bill 4104, a comprehensive tax relief bill following the earmarking of almost $600 million for tax relief from the fiscal year 2024 budget signed in early August. It will be phased in over multiple years and goes into full effect in fiscal year 2027 (FY27). This package is regarded as the most significant piece of legislation Healey has signed during her time as governor.

Some highlights from the legislation include:
• Single Sales Factor: Shifts from three-factor apportionment system based on business’s share of sales, payroll, and property to apportionment based solely on sales
• Short-term capital gains: Reduces rate from 12% to 8.5%
• Estate tax: Increases threshold from $1 million to $2 million with a credit that mitigates cliff effect
• Child and Family Tax Credit: Eliminates two-dependent cap and increases credit from $180 per dependent child, disabled adult, or senior to $310 for 2023 and to $440 on a permanent basis
• Joint Filing Requirement: Requires any couple who files a joint federal tax return to also file a joint state tax return

$1 billion in tax cuts includes savings for seniors, businesses, renters, and the most generous Child and Family Tax Credit in the country

01/23/2023

In case you missed our webinar hosted by Rockland Trust bank last week "Small Business Tax Considerations: Navigating the Post-Pandemic Landscape", you can now access a recording and PDF slides:
https://www.rocklandtrust.com/learning-center/small-business-tax-considerations-navigating-the-post-pandemic-landscape-view

Topics:
- Inflation Reduction Act of 2022
- Consolidated Appropriations Act, 2023
- MA 63D Entity Level Tax
- MA "Millionaires'" Tax
Please note, each of these topics have been generalized and summarized for the purpose and length of this webinar.

We hope you find this helpful!

Rockland Trust Company does not endorse, does not guarantee, and disclaims liability for the views expressed, and the products and services offered, by the guest speakers at this program.

01/05/2023

Looking forward to you joining us!

While many of the tax benefits related to the pandemic have expired or reverted to their pre-pandemic levels, tax planning for small businesses is still no walk in the park. If you also factor in the recent (and frequent) changes to legislature – the task can feel even greater. What impending chan...

10/12/2022

08/20/2022

Mattapoisett coming together 💗🙏

Phil Macomber was badly injured as a result of the devastating fire at Mattapoisett Boat Yard. Phil … Sarah Kaiser needs your support for Phil’s Recovery Fund