Millions of Americans are now working from home, and many are asking whether unreimbursed home office expenses are tax deductible.Read More
Archive for the ‘Tax Planning’ Category
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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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5 Key Points About Bonus Depreciation
Depreciating assets involves a complex area of tax law with implications for transactions other than simple asset acquisitions.Read More
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Individual Tax Matters in the 2020 Election
As the presidential candidates continue to hit the campaign trail, federal taxes will be a top concern for voters. Here’s an overview.Read 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
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Taxes on Roth IRA Withdrawals Today
In the COVID-19 era, one possible source of extra cash is your Roth IRA. But, beware, some Roth account withdrawals may not be tax-free.Read More
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4 Layers of Nonqualified Roth IRA Withdrawals
Nonqualified Roth withdrawals can potentially come from four different layers and different federal income tax rules apply to each layer.Read More
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Beware: Retirement Plan Loan Defaults Can Be Costly
The COVID-19 pandemic has resulted in many people borrowing from their companies’ qualified retirement plans, but this should be used only as a last-resortRead More