Starting in January 2021, the IRS Identity Protection PIN Opt-In Program will be expanded to all taxpayers who can properly verify their identity. Previously, IP PINs were only available to identity theft victims. Continue reading
Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2021 are as follows: Continue reading
Tax breaks for charitable giving aren’t limited to individuals, your small business can benefit as well. If you own a small to medium-size business and are committed to giving back to the community through charitable giving, here’s what you should know. Continue reading
While some workers have returned to their offices, many have not. If you’re working remotely from a location in a different state (or country) from your office, you may be wondering if you will have to pay income tax in both jurisdictions. Continue reading
As we close out the year and get ready for tax season, here’s what individuals and families need to know about tax provisions for 2020. Continue reading
The Tax Cuts and Jobs Act included numerous changes for businesses and individuals. One of these was the creation of the Opportunity Zones tax incentive, the purpose of which is to spur economic development and job creation in distressed communities by providing tax benefits to investors. Continue reading
Several end-of-year tax planning strategies are available to business owners that can be used to reduce their tax liability. Let’s take a look: Continue reading
With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax burden for 2020. Continue reading
Many people assume tax planning is the same as tax preparation, but the two are quite different. Let’s take a closer look: Continue reading
The gig economy, also called sharing or access economy, is defined by activities where taxpayers earn income providing on-demand work, services, or goods. This type of work is often carried out via digital platforms such as an app or website. There are many types of sharing economy businesses including two of the most popular ones: ride-sharing, Uber and Lyft, for example, and home rentals such as Airbnb. Continue reading
