Top 10 year-end tax planning tips
2020 Tax Laws, Accounting, Tax Planning, Tax 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
COVID-19, Tax News, Tax Planning, Tax Tips, TaxesEver 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
COVID-19, Personal Finance, Small Business, Succession Planning, Tax PlanningRegardless 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
2020 Tax Laws, Tax Planning, Tax Tips, TaxesMost 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
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…
Wealthy Taxpayers May Want to Strategize for Potential Tax Increases
2019 Tax Laws, 2020 Tax Laws, Financial Planning, Tax Planning, Tax Tips, TaxesArticle 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?
2019 Tax Laws, 2020 Stimulus Package, 2020 Tax Laws, Accounting, Tax Planning, Tax Refund, Tax Tips, Taxes
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…
Year-End Tips for Charitable Contributions
Charity, Deductions, Tax PlanningAs the end of the year and the holiday season approach, we will all see an uptick in the number of charitable solicitations arriving in our mailboxes and by email. Since some charities sell their contributor lists to other charities, frequent…
Tax Changes For 2019
2019 Tax Laws, Tax News, Tax Planning, TaxesAs the end of the year approaches, now is a good time to review the various changes that impact 2019 tax returns. Some of the changes are likely to apply to your tax situation. In addition, be aware that various tax-related bills currently in…
Tax Issues Related to Hobbies
Tax Planning, TaxesGenerally, when individuals have a hobby, they have it because they enjoy it and are not involved in their hobby with the goal of making money. In fact, most hobbies never make money or don’t even create any income, for that matter. Tax law…