Richardson, Steere & Associates, CPA

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Richardson, Steere & Associates, CPA

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02/27/2026

The IRS has published new FAQs on Executive Order 14247, which calls for eliminating paper checks to and from the IRS. This change is to reduce fraud, enhance security, lower costs and speed up processing. The IRS is encouraging taxpayers to provide banking information on their 2025 tax returns so it can issue refunds via direct deposit. For taxpayers without a bank account, options such as prepaid debit cards, digital wallets or limited exceptions to the “no paper checks” rule are available. If you owe tax, electronic payment methods are preferred, but the IRS will continue to accept mailed paper checks and money orders for now. Contact us at (401) 941-0900 if you have any questions or concerns.

02/25/2026

Beginning in 2025, businesses can once again deduct domestic research and experimental (R&E) expenses in the year they’re incurred, rather than amortizing them over five years. In addition, “small businesses” can file amended returns to claim the deduction retroactively for 2022 through 2024. Regardless of size, businesses that incurred domestic R&E expenses in 2022 through 2024 can elect to accelerate the remaining deductions for those expenditures over a one- or two-year period. If your business has incurred domestic R&E expenses in any of these years, call us at (401) 941-0900 to discuss how these changes can help boost your cash flow.

02/24/2026

Many businesses today outsource one or more of their IT functions to save money. Yet if you don’t manage the risks involved, you could end up spending more and getting less in return. For example, slow support times or services that don’t match your objectives or employees’ needs can undermine productivity. Contact us at (401) 941-0900 for help evaluating a prospective IT outsourcing arrangement or assessing the ROI of an existing one.

02/23/2026

Good news for small business owners! The 20% qualified business income (QBI) deduction for pass-through business owners is now permanent. (It had been scheduled to expire after 2025.) This break reduces taxable income for eligible sole proprietors, partners, S corp owners and, generally, LLC members. Beginning in 2026, expanded income ranges over which certain limits phase in may allow more taxpayers to qualify for the QBI deduction, and some may enjoy larger deductions. Contact us at (401) 941-0900 to learn how you can benefit.

02/20/2026

Your marital status affects many federal tax filing variables, including your standard deduction, credit eligibility and tax owed. If you’re currently “informally” separated from your spouse but still legally married, the IRS generally considers you married for the entire year (even if you’ve lived apart for many months). Unless you divorced or legally separated by Dec. 31, 2025, you must file as married filing jointly or married filing separately for the 2025 tax year. If, on the other hand, you finalized a divorce or legal separation in 2025, you should file as single or, if eligible, head of household. Call us at (401) 941-0900 if you have questions about filing your tax return.

02/18/2026

Drip, drip, drip. That may be the sound of your business’s retirement savings plan “leakage.” Leakage refers to pre-retirement withdrawals made by plan participants (your employees). When a plan’s total assets and individual account sizes shrink, it tends to hurt administrative efficiency and raise costs. It could also indicate that your workers are experiencing financial difficulties, which can reduce productivity. Contact us at (401) 941-0900 to discuss possible solutions.

02/17/2026

One of the biggest challenges when buying a home is coming up with the down payment. But a traditional IRA can help. First-time homebuyers can usually withdraw up to $10,000 from their IRAs penalty-free. (Normally, withdrawals before age 59 1/2 are subject to a 10% penalty.) But there are several rules you must follow to qualify, as well as downsides to consider. And the timing of your withdrawal will be critical. Contact us at (401) 941-0900 for more information.

02/16/2026

When you’re running a business, it’s easy for the books to fall behind. But timely, accurate financial records are essential for a healthy operation. Reporting delays can lead to cash-flow surprises, cost overruns and missed opportunities. Contact us at (401) 941-0900 to get caught up and gain real-time insights that can help your business thrive.

02/13/2026

The IRS and the Security Summit are warning taxpayers that during tax filing season identity thieves are poised to scam people into sharing personal information to file false tax returns and steal refunds. Specific threats include phishing emails and smishing texts, where the thief impersonates a legitimate organization in the tax community, such as the IRS, a state agency or a tax software company, to try to convince the target to provide personal information, click on harmful links or send money. Having an Identity Protection (IP) PIN can protect taxpayers from tax-related identity theft. Anyone with an SSN or an ITIN can get an IP PIN. For more information, contact us at (401) 941-0900.

02/11/2026

You may have heard you need at least $1 million (or $750,000 or $3 million or another number) saved before you retire. The truth is, “your number” is specific to you. How much you need for a secure and fulfilling post-work life depends on factors such as your current income, your desired retirement lifestyle and whether you hope to leave a legacy to heirs. Contact us (401) 941-0900. We’ll review your situation together and come up with a retirement savings plan — including a number.

02/10/2026

For small business owners, investing in new equipment, expanding facilities or launching a new product can be a big decision. With limited funds, it’s essential to pinpoint the opportunities that deliver the most value. Financial models like accounting payback, net present value and internal rate of return offer a disciplined, data-driven approach to evaluating your options. We can help you apply these models to make confident, informed capital-budgeting decisions that fuel long-term success. Call us at (401) 941-0900 to get started.

02/09/2026

Filing your income tax return early can help protect you from tax refund fraud, a scam in which thieves file bogus returns using victims’ Social Security numbers. It can cause big headaches and delay legitimate refunds. But if you file first, it will be the return filed by a potential thief that will be rejected, not yours. Call us at (401) 941-0900 to get your return preparation started.

Address

300 Centerville Road 205W
Warwick, RI
02886

Website

http://rsacpari.com/

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