How Self-Employed Individuals and Household Employers Repay Deferred Social Security Tax The Coronavirus Aid, Relief, and Economic Security Act allowed self-employed individuals and household employers to defer the payment of certain Social Security taxes on their Form 1040 for tax…
First-year bonus depreciation and Sec. 179 expensing: Watch out for the pitfalls Many companies are eligible for tax write-offs for certain equipment purchases and building improvements. These write-offs can do wonders for a business’s cash flow, but whether to claim…
A Section 1031 exchange (also known as a like-kind exchange) allows commercial or investment real estate owners to avoid capital gains tax when selling the property by swapping qualifying properties. This article notes that recent legislation has cracked down on…
Fraudulent claims of the Employee Retention Credit (ERC) have the potential to be the largest tax-related scams in U.S. history. On August 31, 2022, the Treasury Inspector General for Tax Administration (TIGTA) released a significant report that mostly flew under the radar…
On August 19, 2022, The IRS Office of Chief Counsel released a memorandum saying that when a taxpayer’s loan is forgiven based upon misrepresentations or omissions, the taxpayer is ineligible to exclude the forgiveness from income. This means the taxpayer will…
Haynie Dallas loved participating in this years Tango Charities: Breaking a World Record Event on September 17, 2022. The event broke the Guinness World Record for the longest line of sandwiches with over 10,000 sandwiches made in one hour! The sandwiches were donated after…
In September, Haynie hosted Open Houses in Salt Lake City and Phoenix for students from numerous universities in Utah and Arizona. At Haynie, we know starting a career is a big adventure. The goal of the Open House is to…
Haynie Flagstaff was proud to be a sponsor at the Hold Strong ‘Oh My Garage’ Cornhole Tournament. Haynie is privileged to support Hold Strong in their efforts to help officers suffering from PTSD and to provide a place to know that they are…
Register Now The new lease accounting standards (ASC 842) present significant business implications and complex financial reporting requirements. To successfully comply, your company needs to be proactive in understanding the new lease standards, how they apply to your business, and…
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