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Can You Claim a Home Office Deduction?

March 4, 2021

More people worked from home in 2020 than in any previous time due to the COVID-19 pandemic. If you’re one of them, you might be asking, “Can I claim the […]

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New Form for Self-Employed COVID-19 Leave Credits

March 3, 2021

The IRS has released new Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals. The form allows eligible self-employed individuals to calculate the amount to claim […]

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Parents Get Tax Break with Child Tax Credit

February 25, 2021

If you’re a parent, or soon will be, you’re no doubt aware of how expensive it is to pay for your child’s food, clothes, activities and education. The federal child tax […]

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PPP Loans & Tax Impacts

February 17, 2021

Believe it or not, it was around a year ago when the Paycheck Protection Program (PPP) launched in response to the COVID-19 pandemic. If your company took out a PPP […]

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What is the CAA and How Can it Help You?

February 11, 2021

You’ve probably heard or read about the Consolidated Appropriations Act (CAA) passed in early January 2021. At over 5,500 pages, the law presents taxpayers and their advisors with much to […]

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Did You Know Business Bartering is Taxable

February 4, 2021

Many cash-challenged businesses have started bartering for goods and services instead of paying cash for them during the COVID-19 pandemic. What many don’t realize is that if your company has […]

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Some Clarification on the Temporary Gift Tax Break

January 29, 2021

One of the odder portions of The Tax Cuts and Jobs Act temporarily doubled the federal gift and estate tax exemption through 2025. When adjusted for inflation, this exemption allows individuals […]

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Six 2021 Tax Questions & Answers

January 21, 2021

Like most of us, you are probably more focused on your 2020 tax bill than how to manage your personal finances in 2021. However, as you get ready to file […]

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Pandemic-Related Payroll and Self-Employment Tax Relief Explained

January 19, 2021

While it seems like ages ago, the Families First Coronavirus Response Act (FFRCA) was passed 10 months year ago, providing businesses incentives to retain their workforce through various tax relief […]

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Paycheck Protection Program Reopens – What You Need to Know

January 18, 2021

Congress passed the Consolidated Appropriations Act (CAA) on December 27, 2020, adding to, and building on, the support provided by the original act passed in May. Part of this 5500-page […]

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Making Intrafamily Loans and Creating a Family Bank

January 14, 2021

Estate planning allows you to put in writing how you want your wealth distributed to loved ones after your death. What if you want to use that wealth to help […]

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Much Needed Help for Entertainment Venues Included in Recent Stimulus Bill

January 4, 2021

While we are all in the same ocean, we aren’t all in the same boat when it comes to the impact the pandemic has had on our lives and businesses. […]

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