Tax Law Changes Allow Year-End Charitable Planning Opportunities

Tax Law Changes Allow Year-End Charitable Planning Opportunities

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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…
Don’t Miss Out on Year-End Tax-Planning Opportunities

Don’t Miss Out on Year-End Tax-Planning Opportunities

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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…

Big Tax Breaks for Hiring Your Children in the Family Business

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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…
Employee Holiday Gifts May Be Taxable!

Employee Holiday Gifts May Be Taxable

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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…

What Happens if I Missed the October 15th Tax Extension Deadline?

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We’ve all been there.  Life is super busy.  We have to take care of our families and friends, work obligations, and all our other everyday responsibilities. With all of the hustle and bustle, you realize that the October 15th tax extension…

Top 10 year-end tax planning tips

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From Accounting Today Between the upcoming presidential election and the COVID-19 pandemic and its attendant stimulus packages, this year has seen more than its share of uncertainty around tax — which makes helping clients…

How States are Reshaping Nexus Laws for Remote Employees Due to COVID-19

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Ever since the coronavirus pandemic began impacting the United States, businesses around the country have responded by instituting work-from-home policies. While it is unclear how much longer the nation will be in the grips of the crisis, social…

Wealth Transition and Succession Planning: Best Practices for Businesses During COVID-19

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Regardless of the type of business you're running, it's safe to say that you've likely already been impacted by the ongoing COVID-19 pandemic that is making its way across the globe. With no complete end to the situation in sight, many have…

Watch Out for Tax Penalties

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Most taxpayers don’t intentionally incur tax penalties, but many who are penalized are simply not aware of the penalties or the possible impact on their wallets. As tax season approaches, let’s look at some of the more commonly encountered…

What President Trump’s Executive Order Means for You

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We 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…