Here’s a review of the simplified alternative method for reimbursing employees’ out-of-town travel expenses based on per diem ratesRead More
Blog
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Are First-Year Depreciation Write-Offs Right for Your Business?
Here’s what you should know before claiming first-year depreciation write-offs for eligible assets that are placed in service in the current tax year.Read More
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Home Office Deductions Amid the COVID-19 Pandemic
Millions of Americans are now working from home, and many are asking whether unreimbursed home office expenses are tax deductible.Read More
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How to Report COVID-19-Related Debt Restructuring
COVID-19-related loan modifications may be exempt from the complex accounting rules for troubled debt restructurings, if certain conditions are met.Read More
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Tax Implications When Lenders Cancel Debts
Here’s what borrowers need to know about the tax implications of so-called “cancellation of debt” (COD) income.Read More
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Reporting Discontinued Operations
Many businesses have undergone strategic shifts during the pandemic–ensure that change is within the scope of accounting rules for discontinued operations.Read More
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Monitor Overtime Pay for Your Remote Workers: DOL Guidance
The Department of Labor has just issued a “field assistance bulletin” to remind employers of what’s required to monitor overtime for remote workersRead More
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Avoid Personal Liability for Unpaid Federal Payroll Taxes
Though cash may be tight, employers should avoid the temptation to skimp on federal taxes that have been withheld from employees’ paychecks.Read More
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Election 2020: Where Do the Candidates Stand on Business Tax Issues?
Business taxes are a major issue in this year’s presidential election. Here’s a summary of how the 2020 tax platforms measure up on business-related issuesRead More
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Employers Have Questions and Concerns About Deferring Employees’ Social Security Taxes
The IRS has issued guidance to implement the deferral of the employee share of Social Security tax, but employers still have questions and concerns,Read More