Any bookkeeping, business or tax article contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor can it be used to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
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New Tax Law Affects Tax-Exempt Organizations
The Taxpayer Certainty and Disaster Tax Relief Act, passed on December 20, 2019, includes several provisions that may apply to …
Tips to Reduce the Chances of Being Audited by the IRS
The word audit may be one of the scariest word for a business owner. It is a dreaded scenario by …
Form 8962: Reconciling the Premium Tax Credit
Form 8962, Premium Tax Credit, reconciles 2019 advance payments of the premium tax credit and may also affect a taxpayer’s …
Tax Treatment of State and Local Tax Refunds
The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, limited the itemized deduction for state and local taxes …
Safeguarding Your Tax Data: 9 Questions You Need to Ask Your Tax Preparer
The threat for tax data theft is still increasing most especially now that tax season has officially started again. Many …
Home Equity Loan Interest Still Deductible
The Tax Cuts and Jobs Act has resulted in questions from taxpayers about many tax provisions including whether interest paid …
New Rules for Depreciation and Expensing
As part of final guidance issued that pertains to the Tax Cuts and Jobs Act of 2017, new rules and …
It’s Not Too Late to Make an IRA Contribution for 2019
If you haven’t contributed funds to an Individual Retirement Account (IRA) for tax year 2019, or if you’ve put in …
Worker Classification: Employee vs. Contractor
If you hire someone for a long-term, full-time project or a series of projects that are likely to last for …
Costly Tax Mistakes to Avoid
No one wants to pay more than what’s necessary. As a business owner, you need to be practical with your …
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