Tax Planning Guide 2020-21
What word other than “unprecedented” can be used to describe the events we’ve experienced this year? During such times, tax planning is far from top of mind. But it’s still...
06 November, 2020
tax break Tag
S-Corporation Tax Advantages
The S corporation continues to be a popular entity choice, combining the liability protection of a corporation with many of the tax benefits of a partnership. But these benefits come...
06 November, 2020
Small Business Tax Advantages
Small businesses enjoy several tax advantages that may allow them to reduce their tax bills, defer taxes and simplify the reporting process. Until recently, federal tax rules generally defined “small...
06 November, 2020
Oct 15 Deadline Extended for Disaster Zones
Tax deadlines have been very fluid in 2020! The original April 15th deadline was pushed to July 15th. Now, the October 15 tax deadline has been extended for many taxpayers...
05 October, 2020
IRS Issues Final Regulations on Meals and Entertainment Deductions
(authored by RSM US LLP) The final regulations issued by the IRS provide guidance for meal and entertainment deductions under section 274....
01 October, 2020
CARES Act Expands Donation Deductions
In most cases, charitable gifts are deducted by taxpayers who itemize. Those donations are claimed on Schedule A of their annual tax return. However, this year, the Coronavirus Aid, Relief...
18 September, 2020
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
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