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Increased Deduction Limit for Disaster Relief Cash Contributions by Corporations

March 16, 2021

The IRS has released information on how corporations can qualify for the new 100% limit for disaster relief contributions, and has offered a temporary waiver of the record keeping requirement […]

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Look at State Tax Before Making a Move

March 11, 2021

Remote work has convinced many of us that we can do our jobs regardless of where we are located. This new approach is making many think about moving to a […]

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Double-Check for Missing, Incorrect Forms Before Filing

March 9, 2021

With some areas seeing mail delays, the IRS reminds taxpayers to double-check before filing a tax return to make sure they have all their tax documents, including Form W-2, Wage […]

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Teachers Receive Safe Harbor for Certain COVID-related Expenses

March 8, 2021

The IRS is providing a safe harbor for eligible educators to deduct certain unreimbursed COVID-19-related expenses. The safe harbor applies to expenses for personal protective equipment, disinfectant, and other supplies […]

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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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