Hiring Independent Contractors? What You Need to Know
During these tough times, your business may be saving money by using independent contractors, rather than hiring employees. Make sure to follow all the rules or you could hear from the IRS.
Selected CARES Act Tax Provisions
By Jack Kiley, CPA On March 27, the Government moved with uncharacteristic speed to pass what is called the Coronavirus Aid, Relief, and Economic Security Act more commonly known as the CARES Act. This massive 800-page bill includes aid on support for specific...Your Economic Impact Payment Questions, Answered.
As the Economic Impact Payments (EIPs) continue to go out, the IRS has released information about why you might not have gotten a payment. There’s also a new tool to check the status of your EIP.
Eligible IRA Withdrawals Now Penalty-free
Fun fact: The CARES Act makes it easier to take hardship distributions from retirement accounts.
Retirement Plan and Charitable Contribution Rule Changes
During the COVID-19 crisis, many people and charitable organizations need cash. The new CARES Act may provide some solutions.
The New COVID-19 Law Provides Businesses with More Relief
Another coronavirus (COVID-19) law has been enacted and it provides some relief to businesses and employers that are suffering. This article provides some highlights.
Cut Your Tax Bill with IRAs
Saving for retirement is essential for financial security and the government provides tax incentives. If you’re eligible, you still have time to contribute to an IRA, Roth IRA or SEP and benefit on your 2019 tax return.
4 New Law Changes That May Affect Your Retirement Plan
A new law might provide you with tax-saving opportunities related to your IRA or retirement plan.
Tax Code Changes in 2020
As 2019 draws to a close, Congress made three significant changes to the tax code regarding IRAs. In the last few days of the Congressional year, Congress passed two spending bills to keep the government running for another year.
Your 2020 Annual Contribution Limits
As 2019 is comes to a close, we all begin to look ahead to 2020. For 2020 many of the contribution limits increased from their 2019 levels. In calculating these, IRS compares the official cost of living increase from September of 2019 to September of 2018.