Tax Relief for Utah Earthquake Victims
The IRS announced residents of Utah will qualify for tax relief due to the earthquakes and aftershocks that took place on or after 3/18/2020. This relief will automatically be applied...
06 August, 2020
tax break Tag
Employers, Don’t Miss Out on the Work Opportunity Credit
The Taxpayer Certainty and Disaster Tax Relief Act of 2019 extended the Work Opportunity Tax Credit (WOTC) allowing employers who are willing to help disadvantaged individuals to benefit from a...
05 August, 2020
New Twist Added to the IRA-to-Charity Provision
Ever since 2006, individuals age 70½ or older have been able to transfer up to $100,000 annually from their IRAs to qualified charities. These transfers are referred to as qualified...
29 July, 2020
Tax Breaks for Hiring Your Children in the Family Business
With jobs at a premium during the COVID-19 pandemic, you might consider hiring your children to help out in your business. Financially, it makes more sense to keep the family...
27 July, 2020
Big Tax Break for Adoptive Parents
If you are an adoptive parent or are planning to adopt a child, you may qualify for a substantial income tax credit. The amount of the credit is based on...
20 July, 2020
Payroll Tax Relief for Employers Impacted by COVID-19
In response to COVID-19, Congress created four payroll tax relief programs for employers via the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Families First Coronavirus Response...
06 July, 2020
Congress Makes Charitable Giving Easier During the COVID-19 Crisis
Article Highlights: • CARES Act Relaxed Restrictions • Contribution AGI Limits • Charitable Contribution Deduction for Non-itemizers • IRA to Charity Transfers • Substantiation Requirements • Scammers To encourage charitable contributions to deserving qualified charities during these...
23 April, 2020
Extensions for Tax-Free Section 1031 Deadlines
Notice 2020-23 (which updates Notice 2020-18, “Additional Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic”), released on April 9, 2020, provides Taxpayers who are currently engaged in a...
14 April, 2020
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