TWHC

Turner, Warren Hwang & Conrad AC is a full-service CPA firm built on principles that ensure its clients receive value.

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Revisit Your Emergency Fund Goals
An emergency fund is key to long-term financial security. Over time, changes in expenses, income, family needs and financial priorities can affect how much emergency savings you need. Regularly reviewing...

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How Renting Out Your Vacation Home Affects Your Taxes
When you’re not using your vacation home, renting it out can generate extra income. But it can also affect your taxes, depending on how often you rent and use the property personally...

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Simple Retirement Solutions for Small Business Owners
Offering employees retirement options can be an effective way for small business owners to attract and retain talent. If you’re concerned about cost and administrative complexity...

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Get Ahead With a Midyear Tax Review
Life changes can affect your tax picture more than you might expect. Taking time now to review key areas can reduce the risk of certain penalties and uncover tax savings opportunities. Start by reviewing...

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How an Educational Assistance Program Can Strengthen Your Company's Benefits Package
If your business is like many today, you’re seeking more ways to attract and retain talent. One option is to offer tax-advantaged educational assistance...

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Reducing IRS Audit Risk for Small Businesses
When business owners think about risk, they often focus on market pressures or operational challenges. An IRS audit usually isn’t top of mind — but it can be costly, disruptive and time-consuming...

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Take Advantage of Expanded QSB Stock Tax Benefits
Investors often look to small, emerging companies for portfolio diversification and growth potential, but these investments can offer more. Certain shares may also provide valuable tax...

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How Hiring Your Child This Summer Can Reduce Taxes
The wages you pay your child are generally deductible as a business expense. For your child’s income tax purposes, wages received will be at least partially protected from federal income...

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Plan Carefully to Minimize Taxes on Your Inheritance
Getting a large inheritance can create new financial opportunities. But it’s important to handle inherited assets carefully, especially when it comes to taxes and planning...

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Before You Shred: Know Which Tax Records to Keep
Tax documents can accumulate quickly. While clearing out old files can feel productive, it’s important not to discard anything until you’ve reviewed some record-retention guidelines.
Why Good...

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Turn a Real Estate Sale Into a Tax-Smart Strategy
Selling investment or commercial real estate can result in a substantial tax bill if the property has appreciated significantly. One strategy to help ease your tax burden is an...

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Are College Scholarships Really Tax-Free?
Generally, scholarships received by degree candidates are tax-free to the extent they’re used for qualified tuition and related expenses. These include tuition, mandatory fees and required books...

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Common Growth Mistakes Small Businesses Make
A recent survey found that 45% of small businesses reported growth, but 78% wanted to grow. This January 2026 data from Intuit QuickBooks Small Business Insights suggests that many small...

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The IRS Criteria for Distinguishing Hobbies From Businesses
Turning a favorite pastime into income can be rewarding, but it raises an important tax question: Is the activity a hobby or a business? The answer matters because different tax...

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What to Know If You Receive an IRS Notice
Notices from the IRS are more common than you may realize. Each year, the IRS mails millions of letters to clarify information, confirm changes or request additional documentation. Receiving a...

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New Postmark Rules Are Changing How Tax Deadlines Work
If you or someone you know plans to mail a tax return this season, there is an important deadline you need to meet before April 15. Effective December 24, 2025, the U.S. Postal Service...

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IRS Expands Digital Asset Reporting with New Form 1099-DA
If you buy, sell or trade digital assets, such as cryptocurrency or certain nonfungible tokens (NFTs), new reporting requirements will likely affect how your transactions are...

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Businesses Regain Immediate Deduction for R&E Expenses
If your business conducts research or product development, a significant tax law change could unlock tax savings. The 2025 tax legislation, commonly known as the One Big Beautiful Bill...

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What's New for Retirement Catch-Up Contributions in 2026
Beginning in 2026, a significant change to retirement plan catch-up contributions takes effect. Part of the 2022 Setting Every Community Up for Retirement Enhancement (SECURE) 2.0...

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If You're Closing Your Business, Don't Forget These Tax Steps
Closing a business can be overwhelming. But it’s important not to let tax duties fall through the cracks. File a federal income tax return for your business’s final year and, if...

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