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 [...]
CARES Act Provides 4 Possible Reasons to File an Amended Return
The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act delivers good news to individuals and businesses, including valuable tax-relief measures. Some of that tax relief is retroactive. These provisions [...]
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 [...]
CARES ACT Changes Retirement Plan and Charitable Contribution Rules
As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes [...]
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 [...]
IRS Issues New Regs on Deducting Meal and Entertainment Expenses
The Tax Cuts and Jobs Act (TCJA) permanently eliminated deductions for most business-related entertainment expenses paid or incurred after 2017. For example, you can no longer deduct 50% of the cost [...]
Individuals Get Coronavirus (COVID-19) Tax and Other Relief
Taxpayers now have more time to file their tax returns and pay any tax owed because of the coronavirus (COVID-19) pandemic. The Treasury Department and IRS announced that the federal [...]
7 Valuable Tax Credits for Small Businesses
Many people are familiar with tax credits for individual taxpayers, such as the credits for higher education expenses or the child tax credit. But businesses and business owners also may be eligible for some valuable [...]
Has the TCJA Lowered Your Taxes?
We now have two years of the Tax Cuts and Jobs Act (TCJA) changes under our belts: 2018 and 2019. Are your taxes lower than before the law went into [...]
The 2019 Gift Tax Return Deadline is Coming Up
If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2019 gift tax return. And in [...]