Dec 23, 2020 | Personal Tax, Tax Planning
The CARES Act extensions and pandemic provisions bill allows taxpayers to roll over unused amounts in their health and dependent care flexible spending arrangements from 2020 to 2021 and from 2021 to 2022. This provision also permits employers to allow employees to...
May 11, 2020 | COVID-19, Personal Tax, Tax Planning
2020 is a unique year as far as required minimum distributions (RMDs) are concerned. The CARES Act has suspended the requirement for most 2020 IRA distributions–including some 2019 distributions that you might have personally elected to delay until 2020. For our...
Mar 24, 2020 | COVID-19, IRS, Personal Tax, Tax Planning, Uncategorized
2019 Personal tax returns do not need to be filed until 7/15/20. 2019 taxes due, as well as 1st quarter estimated tax payments, are not due until 7/15/20. NOTE: 2nd quarter estimated tax payments are still currently due on 6/15/20! 2019 IRA & HSA payments can be...
Jan 5, 2020 | Accounting & Quickbooks, Business Consulting, Corporate Tax, IRS, Personal Tax, Tax Planning, Uncategorized
The IRS recently released the mileage rates for 2020. Beginning Jan. 1, the business mileage rate decreased one-half of a cent for business travel driven and three cents for medical and certain moving expenses as compared to the rates for 2019. The charitable rate is...
Sep 24, 2018 | Personal Tax, Tax Planning
As a business owner, I know that goal-setting helps us achieve real progress and create a shared vision for everyone in our business. I never thought of its influence as emotional, but here’s an interesting article on using our emotions to further our goals: According...
Sep 13, 2018 | Personal Tax, Tax Planning
The IRS is trying to spread the news, and we want to help our clients: The new tax laws are resulting in many taxpayers being under-withheld because their paycheck withholding was reduced—potentially in excess of the reduction in their tax liability! While in past...
