'Tis almost the season for charitable giving. Besides helping a worthy cause, your donations may qualify for a festive write-off on your 2020 tax return if you qualify. Here are five ways to boost your deduction for charitable contributions if you…
Businesses that received a Paycheck Protection Program (PPP) loan of $50,000 or less can now take advantage of a simpler loan forgiveness application according to the U.S. Small Business Administration and the Treasury Department. PPP lenders are also provided additional…
October 15 was the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) If you’re finally done filing last year’s return,…
The IRS has issued new proposed regulations that define what constitutes real property to determine eligibility for tax-deferred Section 1031 "like-kind" exchanges. Importantly, the proposed regs allow personal property that's deemed to be incidental to real property to be included in…
What is a Marketplace Facilitator Tax? And How do I Account for It? If you sell or buy products online using marketplaces like Etsy, Amazon or others, you need to know about a unique sales tax specifically aimed at marketplace…
Several significant federal tax breaks are set to expire at the end of 2020, unless Congress renews them. Lawmakers customarily extend these so-called "extender" provisions for another year or two, sometimes retroactively. However, in this tumultuous time, nothing is certain. In…
Most business travel was temporarily suspended during the spring and summer months. Now some people have started traveling for business purposes again, albeit less than before the COVID-19 pandemic began. With travel cutbacks, now may be a good time to review…
As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it.…
KnowBe4, the provider of the world's largest security awareness training and simulated phishing platform, recently announced it has launched a new course, "Social Media: Staying Secure in a Connected World" in support of National Cyber Security Awareness Month in October.…
On September 11, the U.S. Department of Labor issued revisions that impact the paid sick leave and expanded leave provisions under The Families First Coronavirus Response Act (FFCRA or Act). These revisions are intended to help to clarify employers’ responsibilities and…