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2020 is coming to a close and the last individual 4th quarter estimated tax payments are due January 15, 2021. For the upcoming tax season (April 15, 2021) we will be sending out our engagement letters in December via email and using Adobe Sign to …

On Monday, December 21st, the U.S. Senate and House of Representatives passed a bill that includes $900 billion in stimulus relief in an effort to help individuals and businesses during the ongoing COVID-19 pandemic. Here are a few highlights of the bill that may impact …

As the end of the tax year approaches, it is worth spending a few minutes reviewing some of the changes that have been made in the tax laws surrounding donations to charities. In some cases, this guide will serve as a refresher regarding revisions made …

The IRS has warned taxpayers of a clever scheme by internet scammers to trick taxpayers into revealing their bank account information under the appearance of receiving the $1,200 Economic Impact Payment (EIP) that Congress authorized last Spring. Criminals are relentlessly using COVID-19 and Economic Impact …

Many taxpayers rent out their first or second homes without considering tax consequences. Some of these rules can be beneficial, while others can be very detrimental. If you rent your home to others, then you should be aware of some special tax rules that probably …

It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market value so low that it is impractical and unreasonable to account for it, the gift’s value would be treated …

As bad as it has been financially for many individuals, 2020 does provide some unique tax opportunities for those who have traditional IRA accounts. These range from converting traditional IRAs to Roth IRAs, retirees making larger-than-normal IRA withdrawals and the decision whether to take advantage …

In an effort to keep you as informed as possible in this ever-changing environment, we are letting you know that the Department of Treasury has released the Paycheck Protection Program application and supplemental information, all available on their website. Please review the documents listed under …

Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19). Find more information on the SBA’s Economic Injury Disaster Loans at: https://www.sba.gov/ The EIDL Program provides targeted, low-interest loans to small businesses and …

As has become usual practice, Congress passed some meaningful tax legislation as it recessed for the holidays. In one of the new meaningful laws, passed on December 19, you will find the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act). The …