The COVID-19 relief law: What’s in it for you?
The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here are some of the highlights of the Consolidated [...]
Six Key Tax Breaks that Homeowners May Be Able to Claim
The days of classic "tax shelters"— such as cattle breeding or oil drilling deals — are long gone. But at least one major tax shelter is still standing: Your home. [...]
Update: COVID-19-Related Relief
On December 21, Congress passed the Consolidated Appropriations Act of 2021 (CAA), which provides pandemic relief, as well as other tax and health-related provisions. White House aides had indicated that President [...]
The Next Estimated Tax Deadline is January 15 If You Have To Make A Payment
If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The [...]
Maximize Your 401(k) Plan to Save for Retirement
Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a [...]
Small Businesses: Cash In On Depreciation Tax Savers
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you [...]
Private Equity: Taking Companies to the Next Level
The number of mergers and acquisitions has continued to be strong in recent years, and private equity has remained as one of the driving forces. With private equity capital looking [...]
Take a 360-Degree Approach to Business Continuity Planning
We have come full circle. Or, perhaps more accurately, the circle has expanded. Many decades ago, business continuity planning focused mainly on the sudden loss of a business owner and [...]
FAQs About Tax-Free Disaster Relief Payments During the COVID-19 Crisis
Many people are struggling to make ends meet during the COVID-19 pandemic. Fortunately, some individuals qualify for federal-income-tax-free disaster relief and disaster mitigation payments paid by some employers under Internal Revenue [...]
Taking Distributions From a Traditional IRA
Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals [...]
How Series EE Savings Bonds Are Taxed
Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put [...]
Divorcing Couples Should Understand These 4 Tax Issues
When a couple is going through a divorce, taxes are probably not foremost in their minds. But without proper planning and advice, some people find divorce to be an even [...]
16 Sweet Cost-Cutting Measures for Small Businesses to Consider
Many small business owners are looking forward to the end of 2020. It's been a year of significant hardship and stress. But staying afloat remains a daunting challenge in 2021. Here [...]
Tax Responsibilities If Your Business Is closing Amid the Pandemic
Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any way we can, including taking care of [...]
Tax Planning for a Small Business
Small business owners still have time to make tax planning moves to lower their 2020 federal income tax bills — and possibly lay the groundwork to save taxes in future years. [...]