Business Valuator, Forensic/Litigation Support Accountant, and Accountant Consultants
Business Valuator, Forensic/Litigation Support Accountant, and Accountant Consultants

Tax

Blog tagged as Tax

Businesses: Get ready for the new Form 1099-NEC
A tax form that used to be filed back in the 1980s is coming back for 2020. Here’s what businesses need to know.
10.09.20 10:49 AM - Comment(s)
Homebuyers: Can you deduct seller-paid points?
In most cases, points a buyer pays in a home sale are a tax deductible interest expense. But what about seller-paid points?
08.09.20 09:35 AM - Comment(s)
Will You Have to Pay Tax on Your Social Security Benefits? 
After paying into Social Security for all your working years, you may be surprised to learn that the benefits may be taxed in retirement. Here are the rules.
31.08.20 10:50 AM - Comment(s)
What happens if an individual cant pay taxes 
Tax liabilities don’t go away if left unaddressed. Here’s a look at what happens in the event you (or someone you know) can’t pay taxes on time.
24.08.20 11:58 AM - Comment(s)
More parents may owe nanny tax this year, due to COVID-19
Do you have a nanny, housekeeper or other household worker? If you pay him or her cash wages of $2,200 in 2020, you must withhold and pay Social Security and Medicare taxes. Learn about this and other tax obligations for household workers.
11.08.20 11:12 AM - Comment(s)
Some people are required to return Economic Impact Payments that were sent erroneously
Millions of people have already received their Economic Impact Payments, which are being sent by the government to help mitigate the effects of #COVID-19. In some cases, the payments should be returned.
05.08.20 10:30 AM - Comment(s)
After you file your tax return: 3 issues to consider
Once your 2019 tax return has been filed, there still may be some issues to consider. We’re often asked about refund status, record retention and amended tax returns. Here are some answers.
13.07.20 12:57 PM - Comment(s)
What qualifies as a coronavirus-related distribution from a retirement plan?
If you need money due to COVID-19, you may be able to take a tax-free “coronavirus-related distribution” from a retirement plan. The IRS has released guidance explaining who qualifies for one of these distributions.
29.06.20 11:45 AM - Comment(s)
If youre selling your home, dont forget about taxes
Despite a slowdown in real estate sales this spring, many people are still selling their principal residences You may be able to exclude up to $250,000 ($500,000 for married joint filers) of gain. Here are the tax rules for home sales.
22.06.20 10:53 AM - Comment(s)
Is it time to outsource finance and accounting?
Outsourcing has been a hot topic for businesses during the COVID-19 crisis. Here’s what you should know before applying this cost-cutting strategy to your finance and accounting department.
17.06.20 11:18 AM - Comment(s)