Since the escalation of COVID-19 cases, malicious activity from cybercriminals is also on the rise. Hackers are taking advantage of the coronavirus fear to carry out attacks. They are creating websites that claim to have cures for the virus and...
More InfoCongress Makes Charitable Giving Easier During the COVID-19 Crisis
To encourage charitable contributions to deserving qualified charities during these trying times, Congress has relaxed some of its restrictions related to how much a taxpayer can deduct as a charitable contribution in any given year. Under normal...
More InfoBusinesses Score Big Tax Benefits with the CARES Act
As part of the stimulus package to help offset the financial damage inflicted on businesses as a result of the COVID-19 crisis, Congress restored the ability of businesses that suffer a loss to carry those losses back and recover taxes paid in...
More InfoPaycheck Protection Program and Health Care Enhancement Act: What’s In It?
President Trump has signed the Paycheck Protection Program and Health Care Enhancement Act (PPP & HCE Act), a $484 billion package that was passed by both the Senate and the House the week of April 20, 2020. PPP & The CARES Act Following...
More InfoTax Credit Pays for Keeping Employees on Payroll
To help businesses retain employees and keep them employed during the COVID-19 crisis, Congress has provided a refundable employer retention credit available to all qualifying employers regardless of size, including tax-exempt organizations. To...
More InfoStill Dealing with 2019 in QBO? Clearing the Way for 2020
It would be great if you could have closed out 2019 knowing that you were all caught up with your accounting work. You sent all your invoices, paid all your bills, and wrapped everything up with a series of reports and a proverbial bow...
More InfoIs Your Will or Trust Up-to-Date?
When was the last time you or your attorney reviewed or updated your will or trust? If it was before the passage of the 2017 tax reform legislation, or the Tax Cuts and Jobs Act (TCJA), your documents may be out of date. Among the many changes in...
More InfoUnderstanding Your Annual Social Security Letter
If you are receiving Social Security, then you have just recently received your annual letter from the Social Security Administration letting you know that your Social Security benefits for 2020 have increased by 1.6 percent as a result of a rise...
More InfoThe 1099-MISC Filing Date Is Just Around the Corner – Are You Ready?
If your business engages the services of an individual (independent contractor), other than one who meets the definition of an employee, and you pay him or her $600 or more for the calendar year, then you are required to issue that person a Form...
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