Written by Heather Shenk, CPA Qualifying as a real estate professional offers unique tax benefits. The Internal Revenue Service (IRS) has specific criteria for individuals to meet the requirements as real estate professionals to benefit from this election ..read more

At Trout CPA, we take immense pride in the dedication and expertise of our team members. Earlier this year, we proudly announced that Senior Associate Aaron Fleitman had earned his AM (Accredited Member) designation from the esteemed American Society of Appraisers. Building upon this achievement, we are delighted to announce further his attainment of the Accredited Senior Appraiser (ASA) designation from the American Society of Appraisers. This milestone is a testament to Aaron's exceptional dedication and expertise in business valuation. Earning this designation is no small feat; in addition ..read more

Written by Randall Weaver, CPA The term "taxpayer at-risk" typically refers to a situation in which a taxpayer has invested money in a business or partnership and is personally liable for that business's financial obligations or losses. In simple terms, the taxpayer's money is at risk because they could potentially lose it if the business doesn't perform well ..read more

Valuation Services Partner W. Michael Wolfe, CPA/ABV, CVA, and Senior Manager Sean Post, CPA, CFE, had the privilege of addressing attendees at the ESOP Association Pennsylvania/Delaware Chapter Spring Conference on March 20, 2024. The ESOP Association stands as the preeminent advocate and educational resource for employee stock ownership plans (ESOPs) across the United States. With a mission to enhance federal ESOP laws, disseminate expert insights to its members, and support research initiatives through the Employee Ownership Foundation, the Association serves as a cornerstone for the ESOP ..read more

Trout CPA is delighted to introduce our newest Client Accounting Services Manager, Will Richard, CMA, CPP. Prior to joining our firm, Will held several financial management positions, including Accounting Manager and CFO, across several industries.  ..read more

March 13, 2024 - Trout CPA proudly announces its recognition as a 2024 Regional Leader by Accounting Today in their Top Firms: The Mid-Atlantic region. This annual recognition highlights the Top 37 Firms in the Mid-Atlantic region, covering New Jersey, New York, and Pennsylvania.  ..read more

Written by Dustin Peck, CPA In the dynamic world of real estate investment, strategic decisions can significantly impact your financial success. One such strategy that seasoned investors often leverage is the 1031 exchange. Understanding the basics of this powerful tool can open new avenues for growth and optimization in your investment portfolio ..read more

At Trout CPA, we take immense pride in the dedication and expertise of our team members. Today, we're thrilled to announce two significant achievements within our firm that underscore our commitment to excellence in valuation services ..read more

Written by Randall Weaver, CPA & Anthony Calamia Maximize Your Savings Owning and managing a rental property can be rewarding, but it also comes with financial responsibilities. One of the key benefits for landlords is the ability to deduct various expenses associated with the property. To help you navigate the complex landscape of rental property deductions, we've compiled a checklist and FAQs to ensure you're not missing out on potential tax savings ..read more

The U.S. House of Representatives on January 31 passed the Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) by a vote of 357 to 70. The $78 billion bipartisan bill, crafted by Senate Finance Committee Chair Ron Wyden (D-Ore.) and House Ways and Means Committee Chair Jason Smith (R-Mo.), would revive or extend certain business tax incentives and enhance the child tax credit.  ..read more