Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020…

Investment portfolio self management expense deduction

Do you have significant investment-related expenses, including the cost of subscriptions to financial services, home office expenses and clerical costs? Under current…

risk assessment trust fund penalty small business

There’s a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with…

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The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with…

10 facts about pass through deductions

Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred…

employee retention tax credit

The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act…

medicare premiums

Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level…

As we continue to come out of the COVID-19 pandemic, you may be traveling again for business. Under tax law, there are…

College Savings Fund

If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher…

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have…

If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The…

child tax credit
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Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC)…

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs

tax filing questions

Even after your 2020 tax return has been successfully filed with the IRS, you may still have some questions about the return.…

S corporation

If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you’re subject to both…

Before the COVID-19 pandemic hit, the number of people engaged in the “gig” or sharing economy had been growing, according to several…

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly…

TAX DAY IS MAY 17

“Tax day” is just around the corner. This year, the deadline for filing 2020 individual tax returns is Monday, May 17, 2021.…

employee education assistance
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Many businesses provide education fringe benefits so their employees can improve their skills and gain additional knowledge. An employee can receive, on…

adhere to tax filing deadlines

The May 17 deadline for filing your 2020 individual tax return is coming up soon. It’s important to file and pay your…