In today’s world, where medical costs are soaring, understanding the intricacies of tax-deductible medical expenses is not just beneficial—it’s necessary for effective financial planning. This guide explores the ins and outs of deductible medical expenses, touching on critical aspects like the 7.5% of Adjusted Gross Income (AGI) limitation, and provides a detailed look at the various expenditures that qualify as eligible medical expenses.

Many taxpayers don’t feel the need to keep home improvement records, thinking the potential gain when they sell their home will never exceed the amount of the tax code’s exclusion for home gains explained as follows.

This January, the Social Security Fairness Act (SSFA) was signed into law, repealing the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These repealed provisions had previously reduced Social Security benefits for some public-sector…

The Partners of Updegrove, McDaniel, McMullen and Chiccehitto, PLC, are pleased to announce that Sarah K. Godfrey, CPA, and Mark S. Burgess, CPA, have become Partners with the Firm, effective January 1, 2025. Sarah, a dedicated member of our Warrenton office since 2012, graduated George Mason University with a Bachelor of Science in Accounting. She […]

UMMC partners and staff are very active in both their work and home communities throughout the year in a variety of service projects. Their contributions make a tangible, lasting impact on these communities and benefit many worthy organizations. Service plays a significant role in UMMC’s firm culture and these efforts are celebrated. Over the years, […]

The UMMC team welcomes Kiah Ziegler and Kristen Evick. Kiah joined UMMC in August of 2024 as a tax accountant in our Warrenton office. She is currently working on receiving her Master of Accounting at William & Mary before progressing toward becoming a CPA. In her former position as FBO Operations Manager, she oversaw the […]