With the November 21, 2020, deadline to claim your Economic Impact Payment approaching, scams continue to gain traction. While most individuals know the status of their $1,200 Economic Impact Payment from the US Treasury, scammers are still finding ways to target taxpayers. The Security Summit, which includes the IRS, 42 state tax agencies and […]
The numerous relief efforts made by the IRS due to the COVID-19 pandemic has made it difficult to keep up with all of the issued changes. For exempt organizations that run on a calendar-year, Form 990 must be filed by May 15. Due to the pandemic, the IRS extended the Form 990 deadline from May […]
Many individuals are struggling with the long-lasting business and income implications of the coronavirus pandemic as companies restructure, downsize or eliminate positions. One strategy some individuals are turning to as a means of increasing cash flow, at least in the short term, is a 401K loan. With the economic stress, you may find yourself scrambling […]
This month, we focus on a tax trap that may be lurking in your paycheck from work. Speaking of work, are you switching jobs? Do you know the four options for your 401(k) plan? Click here to read our October 2020 issue of Word to the Wise to learn more.
The September/October 2020 issue of the Valuation and Litigation newsletter includes the following articles: How COVID-19 affects divorce cases; Factor current risks into the cost of capital; Grieve v. Commissioner Subsequent events: Tax Court rejects speculative assumption; and Estimating lost profits using the before-and-after method. To view the newsletter: Click Here As always, if you […]
This month, our Contractor Newsletter focuses on year-end tax planning, specifically on depreciation deductions and the need to separate cash management from tax planning. As we enter the last few months of 2020, now is the time to make a plan to strategize for year-end as well as how to proceed into 2021. To view […]
Inside the September issue we learn common tax scams announced by the IRS. In addition, if you are missing or received an incorrect stimulus payment, the IRS rolled out a quicker fix to help. To read more, click on the link below to read or download the pdf.
The August issue of Word to the Wise looks at new tax rules for 2020, from charitable donations to adoption fees. We also include information about what you need for your PPP loan forgiveness. To read the entire issue, please Click Here.
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