Returning Erroneous Economic Impact Payments
The IRS and the U.S. Treasury had disbursed 160.4 million Economic Impact Payments (EIPs) as of May 31, 2020, according to a new...
30 June, 2020
The accounting industry is always evolving amid complex rules and regulations. These articles feature timely updates on a variety of accounting topics.
Coronavirus-Related Distributions for Retirement Plans
As you may have heard, the Coronavirus Aid, Relief, and Economic Security (CARES) Act allows ‘qualified’ people to take certain ‘coronavirus-related distributions’ from...
23 June, 2020
Good Recordkeeping is Key to Tax Deductions & Efficient IRS Audits
If you operate a small business, or you are starting a new one, you probably know you need to keep records of your...
16 June, 2020
Medicare Premium Deductions for Seniors
If you are age 65 and older, and you have basic Medicare insurance, you may need to pay additional premiums to get the...
09 June, 2020
A Nonworking Spouse Can Still Have An IRA
It is often difficult for married couples to save as much as they need for retirement when one spouse does not work outside...
02 June, 2020
IRS Releases 2021 Amounts For Health Savings Accounts
The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA Basics An HSA is a trust created or organized exclusively for...
26 May, 2020
Three Key Points for Businesses Following Wayfair Legislation
The U.S. Supreme Court's June 2018 landmark case of South Dakota v. Wayfair, Inc. (Wayfair) has led to increasingly complex rules and left...
20 May, 2020
Economic Impact Payment Amount FAQs
Nearly everyone has heard about the Economic Impact Payments (EIPs) that the federal government is sending to help mitigate the effects of the...
19 May, 2020
There Is Still Time To Make A Deductible IRA Contribution For 2019
Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible...
12 May, 2020