Newsletters
Tax Filing Reminders – September 2020
September 15th
September 30th
October 15th
November 15th
What Is a Donor-Advised Fund?
Posted September 2020
Donor-Advised Funds (DAFs) have become a popular donation vehicle in recent years. DAFs allow you to take a charitable deduction for donations now, but decide later which charities will benefit from your generosity. The income tax deduction is allowed in the year of the donation to the DAF. These funds are public charities, so contributions are not subject to the deduction limitations that apply to private foundations.
Internal Control in a Remote Environment
Posted September 2020
Due to the COVID-19 outbreak, many companies have started to work remotely, which has caused significant changes in their internal controls. These changes may continue into the future, as companies discover the advantages of cloud-based accounting and more employees working remotely. Due to these significant changes, companies need to reevaluate their processes and procedures to identify potential weaknesses where fraud could occur.
IRS issued guidance on payroll tax deferral
Posted September 2020
On August 8, 2020, President Trump issued a directive to allow for the deferral of payroll tax for certain workers. On August 28, 2020, the IRS issued Notice 2020-65 to provide more guidance on how to implement this payroll tax relief.