Emergency Coronavirus Relief Act of 2020
Stimulus Payments
Unemployment Assistance
CDC Eviction Moratorium
Paycheck Protection Program Loans
Earned Income Tax Credit & Child Tax Credit
School Funding
Child Care
…
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From Forbes.com | Kelly Anne Smith Forbes Advisor Staff
The harsh economic consequences of the COVID-19 pandemic and the widespread shutdowns needed to contain it are starting to set in.
More than 30 million Americans have filed for unemployment…
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From The Journal of Accountancy, by Sally P. Schreiber, J.D.
In Notice 2020-39, the IRS extended some deadlines for investing in qualified opportunity funds (QOF) and relaxed some investment requirements to make it easier for QOF investors…
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As the end of the tax year approaches, it is worth spending a few minutes reviewing some of the changes that have been made in the tax laws surrounding donations to charities. In some cases, this guide will serve as a refresher regarding…
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Article Highlights:
Unemployment Benefits Taxability
To Skip or Not Skip the 2020 Required Minimum Distribution
Special Charitable Giving Opportunities
Divorced or Separated Planning Issues
Potential State Health Insurance…
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Article Highlights:
Child Under the Age of 19 or a Student Under the Age of 24
Kiddie Tax
Tax on a Child’s Earned Income
Deduction for the Business
Employment Taxes
IRAs and Retirement Plans
With jobs at a premium during…
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Article Highlights:
New Clever Scammer Scheme
Uses Economic Impact Payments as Bait
The Text Message
How to Report a Scam
How to Correctly Provide Information to Claim a Payment
The IRS has warned taxpayers of a clever scheme…
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Dear friends and clients,
On Wednesday, November 18, the IRS issued further guidance regarding the tax deductibility of business expenses paid with Paycheck Protection Program loan proceeds. The article below published in Forbes.com and…
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Article Highlights:
De Minimis Fringe Benefits
Cash Gifts
Gift Certificates
Group Meals
FICA and Wage Withholding
It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently…
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Help Is on the Way – Emergency Coronavirus Relief Agreement Reached
2020 Stimulus Package, 2020 Tax Laws, CARES Act 2020, COVID-19, Stimulus Payments5 Reasons Why You May Not Receive a Stimulus Check
2020 Due Dates, 2020 Stimulus Package, 2020 Tax Laws, COVID-19Qualified Opportunity Zone Rules Are Relaxed– Need to identify QOF property by December 31
2020 Stimulus Package, 2020 Tax Laws, COVID-19Tax Law Changes Allow Year-End Charitable Planning Opportunities
CARES Act 2020, COVID-19, IRA Contributions, Jobs Act, SECURE Act, Stimulus Payments, Tax PlanningIRS Releases Inflation Adjustments for 2021
Economy, Finance, InflationDon’t Miss Out on Year-End Tax-Planning Opportunities
2020 Stimulus Package, 2020 Tax Laws, Tax Credits, Tax Planning, Tax TipsBig Tax Breaks for Hiring Your Children in the Family Business
Tax Credits, Tax Planning, Tax TipsBeware of New Text Scam Related to Stimulus Payments
COVID-19, Scams, Stimulus PaymentsIRS Clarifies Stance On No Deductibility Of Expenses Paid With PPP Funds
2020 Tax Laws, CARES Act 2020, COVID-19, Paycheck Protection ProgramEmployee Holiday Gifts May Be Taxable
2020 Tax Laws, Gift Tax, Holidays, Tax Planning, Taxes