Non-Compete Agreements: What Can They Accomplish?
It may seem ironic that companies encourage innovation and brilliance while employees are on the payroll, but pull the plug on that ambition if they dare to leave. But non-compete agreements [...]
The Power of the Tax Credit for Buying an Electric Vehicle
Although electric vehicles (or EVs) are a small percentage of the cars on the road today, they’re increasing in popularity all the time. And if you buy one, you may [...]
Ways to Fully Deduct Business-Related Meals
Restaurants have struggled mightily during the COVID-19 pandemic. Thankfully, they're specifically targeted for a new tax relief measure found in the massive Consolidated Appropriations Act (CAA), which became law on December [...]
New Appropriations Act Included Disaster Tax Relief
You've probably heard about the massive new Consolidated Appropriations Act (CAA), which provides direct payments to eligible individuals and contains other provisions to help mitigate the effects of COVID-19. But it also [...]
The New Form 1099-NEC and the Revised 1099-MISC are Due to Recipients Soon
There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipients by February 1, 2021. After sending [...]
One Reason to File Your 2020 Tax Return Early
The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past years because of a new law that [...]
Educate Yourself About the Revised Tax Benefits for Higher Education
Attending college is one of the biggest investments that parents and students ever make. If you or your child (or grandchild) attends (or plans to attend) an institution of higher [...]
Is EEOC Enforcement Reform Coming?
Although the Equal Opportunity Employment Commission (EEOC) is intended to be nonpartisan, run by a five-member Commission, a president can appoint a new chairman and vice-chairman when their terms expire. Currently [...]
Can You Qualify For A Medical Expense Tax Deduction?
You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify. [...]
Energy-Related Tax Breaks Are Extended in the New Law
The massive economic stimulus and government spending law, which was signed on December 27, 2020, extends several energy-related tax breaks. Before the Consolidated Appropriations Act (CAA) was signed, these federal income [...]
Appropriations Law Adds Some Business Tax Breaks and Extends Others
President Trump signed the Consolidated Appropriations Act (CAA) into law on December 27, 2020. The legislation adds a few new tax breaks for businesses and extends a bevy of other business [...]
New Law Includes Favorable Changes for Individuals
The massive COVID-19 relief bill signed by President Trump on December 27, 2020, contains a variety of tax breaks and authorizes direct payments to eligible individuals (see right-hand box). The law [...]
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 [...]
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 [...]
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 [...]