Michael P Rudy, CPA & Associates operates a general practice CPA firm located at 3521 E. Lincoln Highway, Route 30, between Downingtown and Coatesville in the village of Thorndale in Southeastern Pennsylvania. We offer a wide variety of financial, accounting, tax, and computer services. We specialize in servicing the financial, accounting, and tax needs of self-employed individuals, family owned businesses, new start-up businesses and individual clients. Our philosophy is to maintain a close working relationship with our clients while providing the highest level of professional services in a friendly, timely and efficient manner.
Thousands of people have lost millions of dollars and their personal information to tax scams. Scammers use the regular mail, telephone and email to set up individuals, businesses, payroll and tax pro...read more
The Treasury Department and the Internal Revenue Service have issued Notice 2021-25 providing guidance under the Taxpayer Certainty and Disaster Relief Act of 2020. The Act added a temporary exception...read more
As a reminder, the IRS requires all S Corporation shareholders to take “reasonable compensation”. After the 2nd year of operations of your S Corporation, if the IRS challenges that reasonable compens...read more
If you itemize your deductions for a taxable year on Schedule A (Form 1040 or 1040-SR), Itemized Deductions PDF, you may be able to deduct expenses you paid that year for medical and dental care for y...read more
Marriage changes a lot of things and taxes are on that list. Newlyweds should know how saying “I do” can affect their tax situation.
Here’s a checklist of items for newly married couples to review:...read more
