New Law Requires Small Business to Provide Paid Leave- Families First Coronavirus Response Act provides worker benefits
This publication provides summary information regarding the subject matter at time of publishing. Please call with any questions on how this information may impact your situation. This material may not be published, rewritten or redistributed without permission, except as noted … Continued
Tax Deadlines Move from April to July- What you need to know now!
The tax deadlines move from the April 15th tax deadline to July 15th, per U.S. Treasury Secretary Steven Mnuchin. These announcements were made on Tuesday, March 17, 2020 and Friday March 20, 2020 with payment and penalty delays confirmed by … Continued
Kiddie Tax Rate Hike Rolled Back
Parents of young children will always have plenty to worry about. New tax legislation passed at the end of 2019 eliminates at least one of these worries. The new law repeals a provision that increased the tax a child had … Continued
Do I Really Need That #!*>x$! Tax Form 1095?- Stop holding up your tax filing
Tax Form 1095 has been nothing but a headache since its introduction. This federally mandated form adds complexity, creates taxpayer confusion, and cost billions of dollars to produce. The purpose of the form is simple: to relay proof of your … Continued
Make the Most of Recent Retirement Rule Changes- Reap the benefits of new laws
Recent legislation makes changes to popular retirement savings plans like IRAs and 401(k)s. Here are the major changes and how you can benefit from the new rules. You now have until age 72 before you MUST take withdrawals from your … Continued
Elections. Elections. Elections.- Tax savings can be found in the elections you make!
Every year is an election year when it comes to making decisions on your annual income tax return. Here are four common examples that can create tax savings opportunities if you elect the correct option. 1. Tax filing status. Typically, … Continued
Should I Tap into my Retirement Funds?
Often if you are in dire need for money the most tempting area to look is your IRA, 401(k), and other qualified retirement accounts. These funds, set aside for your retirement, may seem to be the answer to your financial … Continued
The IRS Says “Gotcha!”- Late filing of S corporation and partnership returns can be costly
The last couple of years, the IRS has been penalizing late filers of S corporation and partnership tax returns. This despite the fact that late filing of the tax returns (Forms 1120S and 1065), due March 15th, often does not … Continued
Where’s My Tax Return?- Common items that are often forgotten
Wondering why your tax return is not finished? Often the delay can come from one or two items that were overlooked and are needed to complete your tax return. Here are some of the most common: Missing Statements. This includes … Continued
Great New Option to Reduce Student Loan Debt- Newly passed tax law could benefit many
Deep inside legislation passed in late 2019, is a provision that broadens the acceptable use of 529 college savings plan funds. Background 529 savings plans are available to set aside after-tax funds to pay for college and K through 12 … Continued