WHAT'S NEW + BLOG
FINANCE FRIDAY – Community Property
We have all heard the saying in marriage that “what’s yours is mine”, but is that true from a legal standpoint? Read more on community property here.
TAX TUESDAY – Home Office Deductions
Do you qualify for the home office deduction in 2021? Read more to see if you qualify and what expenses you can take for this deduction.
FINANCE FRIDAY – Retirement Accounts
When strategizing an IRA, there are different options to choose from, along with different tax consequences when you contribute and withdraw the funds. See more on retirement here!
TAX TUESDAY – Advance child tax credit payments
Did you opt out of the advance child tax credit? Did you still receive the payments? Read more.
FINANCE FRIDAY – Top 5 reasons to have Life Insurance
Let’s face it – each of us is going to die one day and we need to plan for the inevitable. Below are five very good reasons to obtain appropriate life insurance coverage.
TAX TUESDAY – TAX SCAMS TO WATCH OUT FOR
IRS Wraps Up 2021 “Dirty Dozen” Tax Scam List Recently, the IRS released a list of tax scams that they saw during 2020. Some may seem familiar while others may be new; however, having information about these scams can prove helpful. Below are some of the common scams...
COVID-19 VACCINE TAX CREDIT
Recently, President Biden has released a tax credit for business and nonprofits who provide paid time off to workers that are receiving or recovering from the vaccine through the American Rescue Plan. A paid leave tax credit will offset the cost for businesses and...
Important PPP Loan Updates from the IRS and SBA
The latest from the IRS Two very important items were released by the IRS on November 18, 2020 that impact taxpayers with PPP loans. IRS Revenue Ruling 2020-27 In ruling 2020-27 the IRS restates that expenses paid with PPP funds will not be deductible in...
UPDATED RULES AND FAQ ON PAID SICK LEAVE UNDER FFCRA
With school having started around the country, the Department of Labor has released new guidelines about qualifying for paid sick leave related to the reopening of schools through the Families First Coronavirus Response Act (FFCRA). The new DOL guidelines explain...
INDIVIDUAL COVID 19 TAX RELIEF
The Corona Relief, Aids, and Economic Security (CARES) Act that passed through legislation provides additional relief to individuals. Listed below are key points to be aware of. 1. Recovery Rebates – all individuals are eligible for recovery rebates of up to $1,200...
