From the FI Tax Guy How do you pass your family’s house to your children? It’s a pressing question and involves significant tax, legal, and emotional considerations. Unfortunately, it is a topic about which there is much confusion. This blog post discusses some of the important considerations. But as a blog post, it can only […]
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 deadline has passed and unfortunately, you still haven’t filed. What should you do now? Here […]
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 with year-end planning all the more crucial. “Year-end tax planning is more important than ever this year,” said Renato Zanichelli, national […]
From the Oregon Society of Certified Public Accountants WASHINGTON — Victims of the Oregon wildfires and straight-line winds that began on Sept. 7 now have until Jan. 15, 2021 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS is offering this relief to any […]
Article Highlights: October 15 extended due date for filing federal individual tax returns for 2019. Late-filing penalty. Interest on tax due. Other October 15 deadlines. Because of the COVID-19 pandemic emergency, the IRS postponed the original due date for filing 2019 returns to July 15, 2020. If you could not complete your 2019 tax return […]
Article Highlights: $500 Per Child Stimulus Payment Non-Filer Tool Those Who Have Already Used the Non-Filer Tool Those Who Haven’t Used Non-Filer Tool How Payment Will be Made Get My Payment Tool Non-Filers The Internal Revenue Service has announced it will reopen the registration period for federal beneficiaries with children who didn’t receive a […]
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 distancing is likely to remain in place for many organizations. Some of the country’s most recognizable brands, […]
To our valued clients: The US Small Business Administration and Treasury recently issued an interim final rule clarifying Paycheck Protection Program forgiveness issues surrounding owner-employee compensation and the eligibility of rent related non-payroll costs. The guidance states that owner-employees with less than a 5% interest in a C or S corporation are exempted from the […]
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 begun to try to settle into whatever this “new normal” actually is. They’re […]
IRS Extends the Opportunity to Defer Capital Gains Article Highlights: Tax Benefits Investment Period Qualified Opportunity Zone Funds Qualified Opportunity Zones Deferral Period 10 Year Election As part of tax reform put into place a couple of years ago, individuals are able to defer both short- and long-term capital gains into what are referred to […]