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May 3, 2021
Most Americans make the majority of their donations to charitable organizations at year end. But whether the donation is made in April or October, the same due diligence should be performed.
May 3, 2021
An Enrolled Agent, or EA for short, is a tax advisor who has earned the privilege of representing taxpayers before the Internal Revenue Service by completing a three-part exam, and is also the highest credential you can be awarded by the Internal ...
April 27, 2021
U.S. small businesses are on the road to recovery from the financial losses experienced during the COVID-19 pandemic, according to a new report by Intuit QuickBooks. The report, Intuit QuickBooks Small Business Recovery, published today by Intuit, ...
April 24, 2021
Homeless Americans who don’t have a permanent address or a bank account may still qualify for the Coronavirus stimulus payments, also known as Economic Impact Payments, and other tax benefits, according to the IRS.
April 22, 2021
The sixth batch of payments began processing on Friday, April 16, with an official payment date of April 21, with some people receiving direct payments in their accounts earlier as provisional or pending deposits. Here is additional information on this...
April 22, 2021
With the Dec. 27, 2020, enactment of the Consolidated Appropriations Act, 2021, businesses now may claim these deductions even though they received PPP loans to cover original eligible expenses. These businesses can use the safe harbor provided by this...
April 21, 2021
Eligible employers, such as businesses and tax-exempt organizations with fewer than 500 employees and certain governmental employers, can receive a tax credit for providing paid time off for each employee receiving the vaccine and for any time needed ...
April 21, 2021
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.
April 15, 2021
The total value of the stimulus payments is more than $376 billion since these payments began rolling out to Americans in batches as announced on March 12.
April 1, 2021
This brings the total disbursed so far to more than 130 million payments worth approximately $335 billion.
April 1, 2021
This year, while a marked improvement from its predecessor, has faced a few similar challenges – primarily, that tax practitioners have again been left scratching their heads. This time, the confusion is around why the IRS gave only one extra month for the tax season, compared to three last year. The injury has been worsened...…
March 31, 2021
Adults over 21 will also be allowed to grow marijuana at home. It will be a while before legal sales begin or plants are allowed to grow as the newly-created Office of Cannabis Management is formed and finalizes rules and regulations.