News

  • Child Tax Credit 2022

    Update information on the Child Tax Credit for 2022 tax year.
  • Got a Side Hustle? IRS is cracking down

    For several years now, the IRS has required payments made to merchants through various marketplaces, payment processors (credit & debit cards),...
  • Cyberthieves: How to protect your business and your customers

    Cyberthieves are everywhere Everyone knows that having strong locks, a security alarm and perhaps a security guard will help protect your business from a physical break in. But what about the sneaky cyberthieves you can’t see coming?
  • IMPORTANT TAX CHANGES FOR INDIVIDUALS AND BUSINESSES

    Every year, it's a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings...
  • INDIVIDUAL TAXPAYERS: RECAP FOR 2020

    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. Personal Ex...
  • New IRS Efforts to Destroy Tax Deductions for PPP Paid Expenses

    Effect on YouYou continue to come out ahead if you can’t deduct some or all of the expenses you paid with the PPP money.Remember, you don’t pay tax...
  • TAX PREPARATION VS. TAX PLANNING

    Many people assume tax planning is the same as tax preparation, but the two are quite different. Let's take a closer look: WHAT IS TAX PREPARATION?...
  • Handling business losses. CARES Act eases the rules

    Handling business losses. CARES Act eases the rules
  • Handling Business Losses

    In 2017, the Tax Cuts and Jobs Act (TCJA) provided that net tax losses from businesses in excess of an inflation-adjusted $500,000 for joint filer...
  • The Importance of Keeping a Mileage Log

    Suppose you just received a letter from the IRS telling you that you are the subject of an IRS audit. What one record receives special attention? What one record can create a nightmare for you? 
  • Potential COVID-19 Penalty Relief

    The IRS understands the challenges faced by taxpayers due to the pandemic and may be flexible in granting penalty relief where taxpayers can demons...
  • Using Whole or Partial Rooms for Your Home Office

    With the COVID-19 pandemic still going on, you may be spending more time working from your home office. You may have taken some extra rooms for yo...