Top 10 year-end tax planning tips

, , ,
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

, , , ,
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…

IRS makes Form 1040-X amended tax returns available for e-filing

, ,
From   Michael Cohn, Editor-in-chief @ Accounting Today The Internal Revenue Service is now letting taxpayers submit Form 1040-X electronically when they want to file an amended tax return through commercial tax software, in what the agency…

Watch Out for Tax Penalties

, , ,
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

, , , , , ,
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…

Wealthy Taxpayers May Want to Strategize for Potential Tax Increases

, , , , ,
Article Highlights: Skyrocketing Government Spending Federal and State Deficits Tax Increases in Our Future Tax Strategies The outcome of the November elections could have a significant impact on taxes for the wealthy. The COVID-19…

Is The Government Keeping Your Refund?

, , , , , , ,
  Article Highlights: Bureau of the Fiscal Service Allowable Refund Offsets Disputing an Offset Injured Spouse Claim We all look forward to receiving our tax refunds, but what if you were expecting a refund and it never…

Employers, Don’t Miss Out on the Work Opportunity Credit 

, , , ,
  Article Highlights: Potential Credit Eligible Employees Credit Determination Certification Process Other Issues The Taxpayer Certainty and Disaster Tax Relief Act of 2019 extended the Work Opportunity Tax Credit…
10 Easy End of Year Tax Tips to Increase Your Tax Refund

10 Easy End of Year Tax Tips to Increase Your Tax Refund

,
Article Featured on TurboTax The article below is up to date based on the latest tax laws. It is accurate for your 2019 taxes (filed in 2020). It’s hard to believe that we are in the last quarter of the year! With 2019 coming to an…

Tax Benefits for Holiday Family Employment

Along with the holidays comes a lot of extra work for many family-run businesses, which may require putting the kids to work and having a spouse help out over the busy time. There are special tax rules when hiring your children and also for…