Good Records are the Key to Tax Deductions and Trouble-free IRS Audits
A meticulous approach to keeping business records can protect your tax deductions and help make an audit much less painful.
Seniors: Can You Deduct Medicare Premiums?
If you have medical expenses and you pay Medicare premiums, you know it can be expensive to get the coverage you want. But if you qualify, you can deduct the cost of premiums, along with other medical expenses, on your tax return. Here are the rules.
A Non-working Spouse Can Still Have an IRA
If you’re married and you don’t work outside the home, you still may be able to contribute to an IRA. Here are the rules for spousal IRAs.
IRS Releases 2021 Amounts for Health Savings Accounts
There are many advantages to Health Savings Accounts (HSAs). Here are a few of them, along with the HSA inflation-adjusted amounts for the 2021 calendar year.
Did You Get an Economic Impact Payment That Was Less Than You Expected?
Have you received an Economic Impact Payment only to find out it’s less than what you were expecting? Here are some of the reasons why.
Making the COVID-19 Crisis Less Taxing for Retailers
Infographic: CARES Act tax breaks to help retail businesses.
It’s Not Too Late to Make Deductible IRA Contributions
Do you want to save for retirement on a tax-advantaged basis? It’s not too late to make 2019 IRA contributions (if you’re eligible) just because it’s 2020. And this year, the IRS extended the deadline three months due to COVID-19. Here are the rules and who can make contributions.
The Path Forward After PPP Loans & Lockdown
The next 120 days will be critical and cash flow will be key. On the horizon is the new tax day deadline, 2020 estimates and PPP Loan forgiveness. And you still need to figure out how to restart your business. Click below to access our blueprint of things to think about, how to plan for the next four months and through the end of the year.
Answers to your COVID-19 Tax Questions
If you’re like most Americans, the coronavirus (COVID-19) pandemic has led to many questions. Health issues are of utmost concern but you may also have many financial questions. Here are some answers.
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.