covid economy

Running an accounting practice has always come with unique challenges, but the COVID-19 pandemic brought unprecedented challenges, as well as some less-obvious opportunities.

If you qualify and beat the tax return deadline, you can take an above-the-line deduction for an IRA contribution. Thus, the contribution may effectively reduce your 2020 tax liability.

Because a change in the taxability of unemployment benefits was made into law after some people filed their taxes, the IRS will automatically calculate the amount those taxpayers should be refunded, starting in May.

The event was developed to offer firms and their staff a much-needed mid-season break, complete with high-value prizes and inspiring sideline reports from peer firms across the country.