The IRS has announced its 2021 cost-of-living adjustments to tax amounts that might affect you. Many increased to account for inflation, but some remained at 2020 levels. As you implement 2020 year-end tax planning strategies, be sure to take these 2021 adjustments into account in your planning. Also,…more
As 2020 winds down, it’s time for businesses to take stock of their tax situations and implement year-end tax planning strategies.
Interested in reducing your 2020 tax liability? There’s still time to take these year-end tax planning steps.
In some cases, a married couple files a joint tax return and one spouse doesn’t disclose all of his or her income. The IRS goes after the other spouse for payment. But there may be “innocent spouse” relief.
Even though taxes may not be the hottest topic of the upcoming presidential election, it’s worth your while to learn about each candidate’s tax proposals.
With fall arriving, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth quarter 2020 tax filing deadlines.
Have you lost your job and collecting unemployment? Or are you fortunate to be working from home because of the pandemic? Both of these situations could have tax implications.
The IRS has issued guidance to implement the deferral of the employee share of Social Security tax. But employers still have questions and concerns about whether, and how, to implement the deferral.
If you hold an interest in a business, or may do so in the future, be aware that the CARES Act has made changes to excess business losses.