How Biden’s Rescue Plan Might Impact Your Taxes
COVID-19, Stimulus Payments, UncategorizedHow Biden’s Rescue Plan Might Impact Your Taxes
Article Highlights:
Economic Impact Payments
Unemployment Compensation
Minimum Wage
Education Assistance
Families First Coronavirus Response Act
Child Care Tax…
What President Trump’s Executive Order Means for You
2020 Stimulus Package, 2020 Tax Laws, COVID-19, Tax Credits, Tax Planning, Tax Tips, UncategorizedWe are still waiting for the dust to settle on what President Trump’s executive orders mean for taxpayers and business owners. There is a lot of talk about legal challenges and how Congress may react. But here is a summary of what we know…
Tips to Keep Your Business Afloat During COVID-19
UncategorizedCOVID-19 has had an unprecedented impact on all aspects of American businesses, but perhaps none have been as severely affected as small business owners. Surviving this disaster will require more than just time: you will need to take a pragmatic…
January 2020 Individual Due Dates
UncategorizedJanuary 2 - Time to Call for Your Tax Appointment
January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you to do so before the calendar becomes too crowded.
January 10 - Report…
Life Changing Events Can Impact Your Taxes
UncategorizedThroughout your life there will be certain significant occasions that will impact not only your day-to-day living but also your taxes. Here are a few of those events:
Getting Married – If you just got married or are considering getting…
Small Business Owners May Qualify for a Home-Office Deduction
Uncategorized“Home office” is a type of tax deduction that applies to the business use of a home; the space itself may not actually be an office. One of the following must apply to be able to deduct home office expenses.
The home office:
Must…
Do You Own a Specified Service Trade or Business?
UncategorizedIf So, Your 20% Flow-Through Tax Deduction May Be Limited
Article Highlights:
20% Flow-Through Deduction
Qualified Trade or Business
Specified Service Trade or Business
Deduction Table
Listing of Service Businesses
As…
How High-Income Professionals Can Benefit from the Pass-through Deduction
Deductions, UncategorizedArticle Highlights:
High-Income Professionals
Specified Service Trade or Business
Sec. 199A Deduction
Defined Contribution Retirement Plans
Defined Benefit Retirement Plans
Tax Savings
If you are a high-income professional…
Good and Bad News About The Home Office Tax Deduction
Deductions, UncategorizedArticle Highlights:
Home Office
Qualifications
Actual-Expense Method
Simplified Method
Income Limitation
Employee Deduction
“Home office” is a type of tax deduction that applies to the business use of a home; the…
You May Not Get a Tax Refund Next Year
Tax News, Tax Tips, Taxes, UncategorizedArticle Highlights:
Payroll Withholding
W-4
2018 Tax Projection
Adjusting Withholding
With all of the tax reform changes and the corresponding reductions in most taxpayers’ income tax withholding, there are serious concerns…