RSS Feed Take a look at our recent blog posts and client newsletter articles. en-us Thu, 01 Apr 2021 09:00:00 -0500 Thu, 01 Apr 2021 09:00:00 -0500 Q & A: The $10,200 Unemployment Tax Break A new tax break - in effect only for the 2020 tax year - allows you to exclude the first $10,200 of unemployment compensation from your taxable income. Thu, 01 Apr 2021 09:00:00 -0500 PPP Loan Deadline Extended Through May 31 The Paycheck Protection Program Extension Act of 2021 was signed into law on March 31, extending the deadline to apply for a loan by an additional 60 days. Thu, 01 Apr 2021 09:00:00 -0500 Highlights of the American Rescue Plan Act Signed into law on March 11, the American Rescue Plan Act of 2021 contains several tax provisions affecting individuals and families. Thu, 01 Apr 2021 09:00:00 -0500 Federal Tax Deadline Extended To May 17 The federal income tax filing due date for individual taxpayers, including those who pay self-employment tax, has been extended to Monday, May 17, 2021. Thu, 01 Apr 2021 09:00:00 -0500 Economic Impact Payments: Round Three Starting March 12, the IRS began sending out the third round of economic impact payments via direct deposit, paper checks, and EIP Cards. Thu, 01 Apr 2021 09:00:00 -0500 Tax Breaks for Families With Children If you have children, one or more of these tax credits and deductions could help your family reduce the amount of tax owed. Mon, 01 Mar 2021 09:00:00 -0600 Small Business Tax Roundup In 2020, the IRS issued a number of guidance documents as well as final rules and regulations that clarified several tax provisions affecting businesses. Mon, 01 Mar 2021 09:00:00 -0600 Renting Out a Second Home Tax rules on rental income from second homes can be confusing, especially if you rent the home out for several months of the year and also use the home yourself. Mon, 01 Mar 2021 09:00:00 -0600 Capital Gains Tax on Sale of Stocks If you made money last year buying and selling stocks, you may owe capital gains tax. Mon, 01 Mar 2021 09:00:00 -0600 Avoiding an IRS Tax Audit With taxes becoming more complicated every year, there is an even greater possibility of tax confusion turning into a tax mistake and an IRS audit. Avoiding "red flags" like these could help. Mon, 01 Mar 2021 09:00:00 -0600 IRS Increases Gift Tax and Estate Tax Exclusions for 2018 An increase in the limitations for giving gifts and the threshold for Estate Tax to kick in will begin in 2018 Wed, 25 Oct 2017 09:00:00 -0500 BEWARE Equifax Breach! What Happens Now? Now that many American's credit info has been exposed, how does this affect tax returns? Wed, 11 Oct 2017 09:00:00 -0500 COLA on Benefits and Contributions Dollar Limitations for 2017 The tax law places limits on the dollar amount of contributions to retirement plans and IRAs and the amount of benefits under a pension plan. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases. Fri, 15 Sep 2017 09:00:00 -0500 HELP STAMP OUT IDENTITY THEFT Thu, 27 Oct 2016 09:00:00 -0500 New 1099, W-2 and W-3 deadlines for 2016 - Less time to file on time! The IRS has changed the filing deadlines for 1099s, W-2s and W-3s Wed, 05 Oct 2016 09:00:00 -0500 PROVE IT OR LOSE IT! DOCUMENT CASH CONTRIBUTIONS OF $250 OR MORE If you make cash donations over $250, be sure to get a formal letter from the charitable organization! Wed, 28 Sep 2016 09:00:00 -0500 Be Aware - Fraudulent CP2000s are arriving in mailboxes Scammers are sending out fake CP2000 forms. Don't be a victim! Thu, 22 Sep 2016 09:00:00 -0500