Taxes

July 7, 2020

The IRS Is Issuing Some Stimulus Payments by Debit Card

Some Are Being Mistaken as Junk Mail and Thrown Out Article Highlights: Junk Mail Stimulus Payment Debit Card If you are like most Americans, you receive […]
June 26, 2020

Tax Effects of a Business Making a Charitable Contribution

Article Highlights: Charitable Contributions Business-Related Charitable Contributions Charitable Pass-Through Deductions 20% Business Pass-Through Deduction   Charitable contributions are generally allowed as part of an individual’s itemized […]
June 23, 2020

Congress Liberalizes PPP Loan Forgiveness

Article Highlights: Loan Forgiveness Confusion Covered Period Extended Loan Maturity Extended Limit on Expenses other than Payroll Reduced Exemptions for Those Unable to Rehire or Replace […]
June 5, 2020

Delaying Payment of Old Tax Bills Is A Big Mistake

You know that long list of ways that the coronavirus has affected our lives? Well, here’s another one. The Internal Revenue Service has completely flipped a […]
April 24, 2020

New Twist for Kiddie Tax with a Refund Opportunity

Article Highlights: Appropriations Act of 2020 Children’s Tax-Filing Requirements Two Methods for 2018 and 2019 Amendment Possibility for a Dependent Child Standard Deduction Wages Self-employment Income […]
April 10, 2020

The Home Energy Saving Tax Credit Is Back

Article Highlights: Appropriations Act of 2020 Residential Energy (Efficient) Property Credit Lifetime Credit Credit Limits Qualifying Property Per Item Credit Limits Basis Adjustment Retroactive Application On […]
April 3, 2020

IRS Letters: Tax Scam or Something You Need to Address?

Your taxes contain an array of sensitive information, from financial data to your Social Security number or tax ID number. Because of this, there are many […]
March 27, 2020
IRA investments change

New Twist Added to the IRA-to-Charity Provision

Article Highlights Qualified Charitable Distributions (QCDs) Required Minimum Distribution Age Limit Repealed for Traditional IRA Contributions Coordination of QCDs and Deducted Traditional IRA Contributions Ever since […]
March 13, 2020
hiring tax credit

Congress Extends Employers’ Hiring Tax Credit for Another Year

Article Highlights: Potential Credit Eligible Employees Credit Determination Certification Process Other Issues On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, […]
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