Hit the Ground Running: 7 Steps for New Business Owners
Running a new business can be a daunting endeavor. As soon as you form a business, you will face many important decisions, ranging from mundane to critical. While much of [...]
A Nonworking Spouse Can Still Have An IRA
It is often difficult for married couples to save as much as they need for retirement when one spouse does not work outside the home — perhaps so that spouse [...]
IRS Releases 2021 Amounts for Health Savings Accounts
The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA basics An HSA is a trust created or organized exclusively for the purpose of paying the [...]
Can Your Business Survive and Even Thrive in These Trying Times?
The novel coronavirus (COVID-19) pandemic has caused difficulties for millions of businesses — from family-owned restaurants and niche manufacturers to multinational airlines and oil companies. As the economy slowly reopens [...]
Tax Breaks for Home Improvements
Are you planning to make substantial renovations to your home? You may be adding a deck or patio, finishing a basement or attic or installing a pool. Despite some changes [...]
Did You Get An Economic Impact Payment That Was Less Than You Expected?
Nearly everyone has heard about the Economic Impact Payments (EIPs) that the federal government is sending to help mitigate the effects of the coronavirus (COVID-19) pandemic. The IRS reports that [...]
Boosting the Productivity of Remote Workers
Even while conditions in some states have improved enough to allow some workers in exile to begin returning to their workplaces, life is not likely to return to normal for [...]
Collect Tax-Free Profit From Selling Your Home
Whether the residential real estate market is up or down, there are always homeowners who want to — or have to — sell their homes. If you're a prospective seller [...]
COVID-19 Tax Relief: TCJA Loss Limitation Rules Are Eased
The Coronavirus Aid, Relief, and Economic Security (CARES) Act unwinds some of the tax-revenue-generating provisions included in a previous tax law. Here's a look at how the rules for claiming [...]
Should You File a Business Interruption Claim for COVID-19 Losses?
With much of the country currently on lock down due to the novel coronavirus (COVID-19) crisis, many nonessential businesses have been shuttered. As a result, millions of small business owners find themselves [...]
Hiring Independent Contractors? Make Sure They Are Properly Classified
As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified [...]
Answers to Questions You May Have About Economic Impact Payments
Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part [...]
Testing the Waters Before Jumping In
When considering a merger or acquisition, the most opportune time to find out about possible culture clashes is obviously before the deal is complete. In fact, one often-cited reason for [...]
CARES Act, Part 2
Information provided by ADP, Eye on Washington The U.S. Senate unanimously passed the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748, “CARES Act”) on March 25, 2020. President Trump [...]
The New COVID-19 Law Provides Businesses With More Relief
Just days ago, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. We believe this will provide much needed relief to “Main [...]