Newsletters
IRS ‘Buried’ in Paper Returns Ahead of Difficult Tax Season
Posted January 2022
Bloomberg Tax, a comprehensive tax research firm, shares in one of their most recent articles that taxpayers and tax professionals face the most challenging filing season ever, as the IRS wrestles institutional obstacles and taxpayers navigate new complexities.
SOCIAL SECURITY AND MEDICARE CHANGES FOR 2022
Posted January 2022
There are changes that take effect in 2022 impacting those taxpayers who are currently retired or are contemplating retiring during 2022.
KEY TAX PROVISIONS TO REMEMBER ENTERING 2022
Posted January 2022
There are several tax provisions that taxpayers should be aware of that take effect or will impact 2022 taxes.
IRS ISSUES STANDARD MILEAGE RATES FOR 2022
Posted January 2022
The IRS has issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Strategies for donating to charity or gifting to loved ones
December 2021
As we approach the holidays, many people plan to donate to their favorite charities or give money or assets to their loved ones. Here are the basic tax rules involved in these transactions.
Businesses can show appreciation — and gain tax breaks — with holiday gifts and parties
December 2021
With Christmas just around the corner, the holiday season is upon us. At this time of year, your business may want to show its gratitude to employees and customers by giving gifts or hosting holiday parties. Now is a good time to brush up on the tax rules associated with these expenses. Are they tax deductible by your business and is the value taxable to the recipients?
COVID-19 Emergency Paid Sick Leave Expired
Posted November 2021
Federal laws requiring employers to provide COVID-19 supplemental paid sick leave and voluntary sick leave credits expired on September 30, 2021.
Crypto Industry Update
Posted November 2021
The cryptocurrency firm Coinbase, Inc. joined several other crypto-entities in lobbying to draft their own cryptocurrency regulations before Congress regulates this fast evolving industry.
Private Placement Life Insurance May Shelter Income from Higher Taxes
Posted November 2021
Private placement life insurance (PPLI) combines the financial advantages of high income potential investments with the tax advantages of life insurance. But PPLI is not for everyone.
COBRA Changes that May Impact You
Posted November 2021
In April, 2021, the President signed the American Rescue Plan Act of 2021 (ARPA), creating a 100% COBRA premium subsidy and additional COBRA enrollment rights for certain employees (and their families) who have lost group health plan coverage due to an involuntary termination of employment or reduction of hours.