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Explore helpful articles on bookkeeping, taxes, and financial best practices designed to help individuals and businesses make smarter financial decisions.

DISCLAIMER: 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.

Coronavirus-Related Distributions and Loans

The Coronavirus, Aid, Relief, and Economic Security (CARES) Act made it easier to access savings in IRAs …

Highlights of the American Rescue Plan Act

Signed into law on March 11, 2021, the American Rescue Plan Act (ARPA) contains several tax provisions …

Common and Costly Errors When Preparing A Tax Return

When filing a tax return, mistakes can result delay in processing, an additional amount of time to …

Federal Tax Deadline Extended To May 17 2021

The federal income tax filing due date for individual taxpayers, including individuals who pay self-employment tax, has …

Special Tax Rules for Children With Investment Income 2021

Special tax rules may apply to some children who received investment income in 2020 or expect to …

Now that we have vaccines against COVID-19, the dust is slowly settling down. Businesses are starting to …

There's Still Time To Make an IRA Contribution for 2020

If you haven’t contributed funds to an Individual Retirement Account (IRA) for tax year 2020, or if …

Tax Implications: Renting Out a Second Home

In general, income from renting a vacation home for 15 days or longer must be reported on …

Financial Lessons Learned During the Pandemic

The unprecedented happenings during the year 2020 had taught us a lot of things. It was a …

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