Pozerski Hatch & Company, PC

07/11/2025

If you are wondering how the new tax bill will affect your "qualified tips," read on...

Qualified Tips Deduction
(“No Tax on Tips”)
Individuals can claim an income tax deduction for qualified tips received in tax years 2025 through 2028. A qualified tip is any cash tip received in an occupation which customarily and regularly received tips on or before December 31, 2024. The deduction is limited to $25,000 per tax year, and starts to phase out when modified adjusted gross income is above $150,000 ($300,000 for joint filers). Qualified tips received in the course of a nonemployee individual‘s trade or business are deductible only to the extent that gross receipts are greater than allocable deductions. An employer must report qualified tips on the employee‘s Form W-2, or the employee must report the tips on Form 4137. A service recipient must report qualified tips on the nonemployee payee‘s Form 1099-NEC or Form 1099-K. Amounts that do not meet certain requirements are excluded from qualified tip treatment. The deduction is not allowed unless the taxpayer‘s social security number appears on his or her income tax return. Married taxpayers must file a joint return to claim the deduction.

01/16/2025

The IRS is opening tax filing season on January 27, 2025 for tax year 2024 returns. If you haven't done this already, you should consider getting an IP PIN from the IRS. This should prevent a fraudulent return from being filed with your social security number. You can apply for an IP PIN on the IRS website at www.irs.gov . You will need to provide this to your tax preparer, or if you prepare your own return, you will have to enter it before you can electronically file.

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

12/20/2024

The IRS has published some information to help clients get ready for tax season. Click for more information.

Get ready to file your taxes. See tips that can make filing taxes easier next year. Learn about tax law changes, how to view your tax account information online, and ways to get help.

10/05/2023

Some good news for MA taxpayers! Gov Maura Healey signed into law the first major tax changes in over 20 years! Here are some highlights:

Yesterday, Governor Maura Healey signed the $1 billion tax relief package into law. 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.

Highlights from the legislation include:
• Short-term capital gains: The bill would change the tax rate from the sale of assets held for a year or less from 12% to 8.5%
• Estate tax credit: Language in the bill would eliminate the tax for all estates under $2 million by allowing a uniform credit of $99,600 (retroactive to January 1, 2023)
• Earned Income Tax Credit: The package includes language that would increase the earned income tax credit from 30% to 40% of the federal credit
• Joint Filing Requirement: The bill includes a provision that will require any couple who files a joint federal tax return to also file a joint state tax return
• Chapter 62F: The conference committee language changes the current state law that caps the amount of tax revenue state government can collect and taxpayers’ reimbursement rates – the bill would replace the current language that has a calculation for rebates to an equal payment for every taxpayer if Chapter 62F was triggered again, it would also require married taxpayers who file a joint return with the federal government to file a joint return at the state level

07/12/2023

The Internal Revenue Service is warning taxpayers to be on the lookout for a new scam mailing that tries to mislead people into believing they are owed a refund.

The new scheme involves a mailing coming in a cardboard envelope from a delivery service. The enclosed letter includes the IRS masthead and wording that the notice is “in relation to your unclaimed refund.”

Like many scams, the letter includes contact information and a phone number that do not belong to the IRS. But it also seeks a variety of sensitive personal information from taxpayers—including detailed pictures of driver’s licenses—that can be used by identity
thieves to try obtaining a tax refund and other sensitive financial information.

06/15/2023

If you know of an experienced tax professional, please keep us in mind!

Exciting opportunity in Hingham, MA for Pozerski Hatch & Company as a Senior Tax Associate

06/08/2023

We're hiring!!

Job Description –Senior Tax Associate

At PozerskiHatch, we provide an environment where our employees thrive, have opportunities to learn and grow, are exposed to a wide range of attest and tax work across a variety of industries and receive personalized training and career advice. In short, we offer a unique opportunity for our employees to be part of a growing firm and have a say in its future.

As a Senior Tax Associate, you will provide tax preparation and planning services to a wide range of for profit and not-for-profit clients and individuals. You will utilize your educational and work experience to their fullest and make a significant impact on the teams and engagements to which you are assigned.

Job Responsibilities

• Prepare complex individual, partnership, corporate and not-for-profit tax returns
• Review low to mid-level complexity individual, partnership, corporate and not-for-profit tax returns prepared by staff and interns for accuracy
• Research and draft correspondence regarding complex tax matters and questions
• Identify tax planning opportunities and prepare or assist with the preparation of tax projections
• Follow-up on tax notices and correspondence received by clients
• Provide supervision, training and support to staff and interns
• Continuously expand overall knowledge based on exposure to engagements, training, and continuing education
• Work on audits and special projects, as needed
• Professionally represent the Firm with clients

Requirements

• Bachelor's degree in accounting
• Working towards CPA license, or maintaining a CPA license in good standing
• 3-5 years of prior experience working in the tax department of a public accounting firm
• Excellent analytical and technical tax skills
• Ability to manage multiple client engagements and deliver work products on time and within budget, identifying issues and communicating progress
• Strong leadership, training and mentoring skills, coupled with solid verbal/written communication and interpersonal skills
• Proficient with Microsoft Windows and Office products
• Experience with tax research tools and tax compliance software (CCH experience preferred)
• Reliable transportation and ability to travel to client sites, as needed

Compensation

• Competitive salary
• Competitive benefits package
• Paid vacation/personal time each year
• Paid holidays
• Paid Continuing Professional Education (CPE) courses
• Paid leave for CPA Exam preparation

PozerskiHatch is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, s*x, s*xual orientation, gender identity/expression, disability status, protected veteran status, national origin, or any other characteristic protected by law.

09/29/2022

Wondering how much your additional MA refund might be? You can check here...

Massachusetts law requires that when tax revenue collections in a given fiscal year exceed an annual tax revenue cap, the excess revenue is returned to taxpayers.

06/09/2022

The government finally increase the standard mileage rate for the rest of the year. The new rate is $0.625/mile.

It’s about time!

01/12/2022

I get questions on Roth vs regular IRA all the time... here's an interesting article on that.

When determining whether to contribute to pretax retirement plans or Roth 401(k) plans, consider the potential impact on Social Security taxes and Medicare premiums. Maintaining a mix of pretax and after-tax accounts can make sense as a way to diversify holdings.

01/06/2022

Hard to believe, but it's true. Tax season is upon us again... some helpful tips from the IRS.

COVID Tax Tip 2022-04, January 6, 2022 — As taxpayers are getting ready to file their taxes, the first thing they should do is gather their records.

12/23/2021

The IRS is sending notices to individuals regarding their advanced child tax credit and the 3rd stimulus payments received. Both are needed for 2021 tax return preparation so don't lose them!! Put them with your tax information and give to your tax preparer. Hopefully this will help tax season go a little smoother.

IR-2021-255, December 22, 2021 — The Internal Revenue Service announced today that it will issue information letters to Advance Child Tax Credit recipients starting in December and to recipients of the third round of the Economic Impact Payments at the end of January. Using this information when p...