Celebrating Women in History Month

March is Women’s History Month, a time to celebrate the achievements and contributions of women throughout history. At Loeffler Financial Group, we’re proud to honor the women who have shaped the field of accounting, paving the way for future generations. This year, we highlight some trailblazers whose impact continues to resonate today.

1. Maria Gaetana Agnesi (1718-1799)

Maria Gaetana Agnesi was an Italian mathematician and philosopher who wrote the first book discussing both differential and integral calculus. Her work, “Analytical Institutions for the Use of Italian Youth,” was a groundbreaking achievement and contributed significantly to the understanding of calculus. Agnesi’s dedication to education and mathematics laid a foundation for women in STEM fields.

2. Mildred Dresselhaus (1930-2017)

Known as the “Queen of Carbon Science,” Mildred Dresselhaus was an American physicist and electrical engineer. Her research focused on the electronic properties of materials, particularly carbon, and she made pioneering contributions to the field of nanotechnology. Dresselhaus was the first female Institute Professor at the Massachusetts Institute of Technology (MIT) and served as a role model for women pursuing careers in science and engineering.

3. Mary Harris Thompson (1832-1923)

Mary Harris Thompson was an American pioneer in accounting and taxation. She founded one of the first professional accounting firms in the United States and played a crucial role in shaping early accounting practices. Thompson’s advocacy for rigorous standards and professionalism in accounting laid the groundwork for the modern accounting profession.

Loeffler Financial Group: Empowering Women in Finance

While Loeffler Financial Group is owned by men, we take pride in the fact that our company is largely d

riven by strong, intelligent women. From leadership roles to client management and financial planning, women at Loeffler Financial Group are integral to our success. They bring diverse perspectives, innovative ideas, and a commitment to excellence that defines our approach to client service.

As we celebrate Women’s History Month, we recognize and celebrate the contributions of women in accounting and finance. Their resilience, intelligence and dedication continue to inspire us at Loeffler Financial Group and beyond. Join us in honoring these remarkable women and reflecting on their impact on our industry and society.

At Loeffler Financial Group, we believe in empowering women in finance and celebrating their achievements every day.

Are you guilty of pushing your bookkeeping to the back burner with excuses like “I’ll do it next year,” “I know my money,” or “I don’t have time”? It’s time to recognize that these delays could be costing you more than you realize.

📊 Why Accurate Bookkeeping Matters

The truth is, that accurate bookkeeping forms the bedrock of your business’s financial health. Without it, you risk:

  • Missed Tax Savings: Proper records ensure you claim all deductions and credits you’re entitled to.
  • Inaccurate Cash Flow: Clear financial records help you understand your cash position and make informed decisions.
  • Potential Penalties: Incorrect filings can lead to penalties and unnecessary headaches.

But it’s not just about your business; it impacts your family’s financial future too. Imagine the peace of mind knowing that your current needs and future goals are supported by a solid financial foundation.

⏰ Take Action Now

Don’t procrastinate any longer. Taking control of your books means setting up your business—and your loved ones—for:

  • Growth: Clear financial insights pave the way for strategic decisions and sustainable growth.
  • Better Decisions: Access to accurate data empowers you to make informed choices.
  • Financial Clarity: Know where your business stands and plan confidently for the future.

Next year’s success starts with the right steps today. Let’s get your bookkeeping in order. Contact Loeffler Financial Group now to take the first crucial step towards financial stability and prosperity.

Remember, your business deserves the best financial footing possible. Let’s make it happen together.

In late August 2023, tax professionals and experts from all corners of the country gathered under the warm Florida sun for the highly anticipated IRS Tax Forum Conference. Among the attendees, Loeffler Financial Group stood out as a shining example of excellence in the world of tax and finance. The event, hosted at the Orlando County Convention Center, provided an invaluable opportunity for Loeffler Financial Group to network, learn, and share insights on the ever-evolving world of taxation.

The Gathering of Tax Minds

The IRS Tax Forum Conference is an annual event that brings together tax practitioners, tax professionals, and representatives from the IRS to discuss important topics, new developments, and best practices in the field of taxation. With the goal of enhancing the expertise of tax professionals and fostering collaboration among attendees, this conference has become a cornerstone in the industry.

Loeffler Financial Group Stays Up-to-Date on Tax Laws and Regulations

Loeffler Financial Group, a respected name in the financial world, was a prominent participant at this year’s conference. As a testament to their commitment to excellence, the group sent a delegation of their top experts to engage in workshops, panel discussions, and networking opportunities. Their active participation in various sessions demonstrated their dedication to staying at the forefront of tax law and regulation changes.

Key Highlights:

  1. Workshops and Educational Sessions: Loeffler Financial Group’s team immersed themselves in a wide range of workshops and educational sessions that covered topics such as tax planning, compliance, cybersecurity, and emerging tax technologies. This investment in knowledge will undoubtedly benefit their clients in the coming year.
  2. Networking Opportunities: The conference provided ample opportunities for professionals to connect and share insights. Loeffler Financial Group leveraged these connections to foster collaboration and expand their network of industry peers.
  3. Panel Participation: Several members of Loeffler Financial Group had the honor of participating in panel discussions. Their expertise and thought leadership were on full display as they shared their insights on complex tax issues and future trends.
  4. Exhibitor Presence: The Loeffler Financial Group booth in the exhibition hall attracted a steady stream of conference attendees. Visitors had the chance to engage with their experts, learn more about their services, and gain valuable insights into their approach to financial and tax planning.

Key Takeaways:

The IRS Tax Forum Conference in Orlando, Florida, was a tremendous success for Loeffler Financial Group. Their active involvement, dedication to staying current on industry developments, and commitment to excellence solidify their position as a trusted and forward-thinking financial partner for their clients.

As the tax landscape continues to evolve, Loeffler Financial Group’s presence at events like the IRS Tax Forum Conference demonstrates its unwavering commitment to providing top-tier financial and tax services. Their participation in such forums not only benefits their clients but also contributes to the overall advancement of the tax profession.

Loeffler Financial Group’s attendance at the IRS Tax Forum Conference in Orlando, Florida, was a testament to their ongoing commitment to excellence and their dedication to serving their clients with the highest level of expertise. As we move forward into an increasingly complex tax landscape, Loeffler Financial Group’s presence and contributions at events like these will undoubtedly continue to shape the future of taxation and financial planning.

 

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Loeffler Financial Group Expands Services with Acquisition of ITP Taxes, Extending Reach in Tax Preparation and Community Support

Lancaster, PA – Loeffler Financial Group, a trusted name in comprehensive financial solutions, is pleased to announce the acquisition of ITP Taxes, a well-established provider of income tax preparation services for individuals and small businesses across the United States. With this acquisition, Loeffler Financial Group will expand its tax preparation capabilities and enhance its commitment to serving clients nationwide with exceptional service and expertise.

Founded and headquartered in Lancaster, PA, ITP Taxes has built a reputation for reliability and personalized tax preparation services, helping clients from coast to coast navigate their tax needs. Loeffler Financial Group looks forward to honoring and building upon the strong relationships ITP Taxes has developed with both individuals and small business owners. This acquisition not only strengthens Loeffler’s existing service offerings but also reinforces its mission to empower community leaders, entrepreneurs, and individuals toward financial success.

Douglas Loeffler, VP and Head of Operations at Loeffler Financial Group shared his enthusiasm for this milestone: “Acquiring ITP Taxes has been an exciting step forward for Loeffler Financial Group, and it has been wonderful getting to know Dave Shiley and learning about the business he has built. Dave’s dedication to his clients aligns perfectly with our own values, and we’re thrilled to welcome his clients into our family as we continue to grow and build lasting relationships in the community.”

With this acquisition, Loeffler Financial Group will operate two convenient Lancaster-based drop-off locations for tax season document submissions, including their headquarters at 2201 Columbia Avenue, Lancaster, PA 17603, and their new location in the heart of Downtown Lancaster at the Candy Factory, 342 REAR North Queen St, Lancaster, PA 17603. These locations underscore Loeffler Financial Group’s commitment to accessibility and community engagement as they continue to support clients with dedicated, professional tax preparation services.

 

About Loeffler Financial Group
Loeffler Financial Group is a comprehensive financial services provider offering tailored solutions in tax preparation, bookkeeping, accounting, and financial consulting. Committed to client success and financial well-being, Loeffler Financial Group serves individuals, entrepreneurs, and businesses with a focus on personalized service, integrity, and community impact.

 

For media inquiries, please contact:

Brittany N. Loeffler
SVP of Marketing
Loeffler Financial Group
bloeffler@loefflerfinancial.com

The importance of a CPA

Life is often viewed as a series of stages – childhood, graduation, parenthood, and retirement, to name a few. Like the points on a clock, time moves us from one stage to the next. No matter what “time” it is in your life cycle, you probably share a common worry: money. Managing money for today is one thing; making decisions to ensure adequate funds for the next stage is quite another.

The CPA commitment. As trusted advisors, CPAs across the country have made a commitment to increase financial literacy. How? By volunteering to educate the public about financial issues and the decisions that must be made at every stage of life. Americans are faced with significant financial concerns, but often have insufficient financial literacy. Bright and even highly educated people sometimes have trouble speaking the language of money, often to their economic detriment.

To combat this trend, the CPA profession has united around a cause to educate Americans, rich and poor, young and old, on how to better handle their finances. With the life cycle “clock” as a model, CPAs have taken a full, 360-degree view of the challenges Americans face. For each milestone, the profession has solid, practical advice to share. You might say CPAs are once again emphasizing the term “public” in their title.

Call on us. Which brings us to our firm, Loeffler Financial Group. We, too, have accepted the call to educate our community. Our team of experts would be pleased to speak to your organization about life’s financial challenges. We can also speak to students or provide classrooms with timely, interesting material on money and financial issues.

If you would like to find out more about the accounting profession’s drive to improve financial literacy, give us a call. Life’s financial clock is ticking. Let us help you before the alarm goes off. Call Loeffler Financial Group today at 717-393-7366!

Be aware that important tax consequences are often associated with some fairly common events involving your home. Here are some handy things to know.

Home purchase. When purchasing a home, you may pay a portion of the mortgage interest in advance. This loan origination fee, or “points,” is a percentage of the total amount borrowed.

If points are paid for a principal residence, you generally can deduct the full amount in the year paid, even if the points were paid by the seller. One caution: you must reduce your home’s tax basis (cost) by the amount of seller-paid points.

Of course, one of the greatest tax benefits of home ownership kicks in during the early years of the mortgage, when most of your payments go toward tax-deductible interest.

IRA withdrawals. The tax law allows penalty-free IRA withdrawals, up to a lifetime limit of $10,000 for the purchase of a first home for you or members of your family. Withdrawals from Roth IRAs for qualifying first-home expenses can be both penalty- and tax-free after the Roth is five years old.

Refinancing. What happens if you refinance? If you pay points, the general rule requires that you prorate deduction over the life of the loan. But if some of the refinance proceeds go toward home improvements, you may be able to take a current deduction for the portion of the points related to those improvements.

Improvements. If you take out a loan to make substantial improvements to your principal residence, and the loan is secured by that property, the interest is generally deductible. Remodeling often increases the value of your property. Remodeling costs also increase the property’s basis, potentially reducing capital gains tax if a future sale is partially or fully taxable.

Other home improvement costs generally are not deductible, but if you upgrade your home for medical reasons – say, to add a wheelchair ramp or stair lift – you may be able to deduct a portion of the cost as a medical expense.

Home office. The home office deduction can be another tax break of home ownership. If you use part of your home regularly and exclusively as a principal place of business, you may be able to deduct costs associated with that part.

Home sale. When you sell a home that you have owned and used as your principal residence for at least two of the five years before the sale, you can generally exclude from taxation up to $250,000 of profit if you’re single and up to $500,000 if you’re married filing jointly. Profits in excess of those amounts are subject to regular capital gains rates and rules.

The definition of “principal residence” includes not only the conventional single family house, but also such homes as house trailers, mobile homes, houseboats, condominiums, cooperative apartments, and duplexes.

Selling at a loss. Unfortunately, if you sell your home for less than you paid for it, you may not take a tax deduction for your loss.

Taxes often come into play for homeowners, and it’s important to be aware of potential benefits and pitfalls.

Contact Loeffler Financial Group today to learn more about your personal tax planning as a homeowner, 717-393-7366.