Here’s a review of the simplified alternative method for reimbursing employees’ out-of-town travel expenses based on per diem ratesRead More
Archive for the ‘Business’ Category
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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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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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CARES Act Made Changes to Excess Business Losses
If you hold an interest in a business, or may do so in the future, be aware that the CARES Act has made changes to excess business losses.Read More