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One reason to file your 2020 tax return early

By |2021-01-19T19:31:43+00:00January 19th, 2021|Latest News|

The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past years because of a new law that was enacted late in December.) Even if you typically don’t file until much closer to the April 15 deadline (or you file for an extension),

Educate yourself about the revised tax benefits for higher education

By |2021-01-14T17:09:11+00:00January 14th, 2021|Latest News|

Attending college is one of the biggest investments that parents and students ever make. If you or your child (or grandchild) attends (or plans to attend) an institution of higher learning, you may be eligible for tax breaks to help foot the bill. The Consolidated Appropriations Act, which was enacted recently, made some changes to

The COVID-19 relief law: What’s in it for you?

By |2021-01-14T17:07:29+00:00January 14th, 2021|Latest News|

The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here are some of the highlights of the Consolidated Appropriations Act, which also contains two other laws: the COVID-related Tax Relief Act (COVIDTRA) and the Taxpayer Certainty and Disaster Tax Relief Act (TCDTR).  

Blockchain beckons businesses … still

By |2021-01-14T17:05:34+00:00January 14th, 2021|Latest News|

The term and concept known as “blockchain” is hardly new. This technology surfaced more than a decade ago. Bitcoin, the relatively well-known form of cryptocurrency, has gotten much more attention than blockchain itself, which is the platform on which Bitcoin is exchanged. One might be tempted to think that, having spent so many years in

Need another PPP loan for your small business? Here are the new rules

By |2021-01-14T17:03:38+00:00January 14th, 2021|Latest News|

Congress recently passed, and President Trump signed, a new law providing additional relief for businesses and individuals during the COVID-19 pandemic. One item of interest for small business owners in the Consolidated Appropriations Act (CAA) is the opportunity to take out a second loan under the Paycheck Protection Program (PPP). The basics The CAA permits

Your taxpayer filing status: You may be eligible to use more than one

By |2020-12-29T17:50:03+00:00December 29th, 2020|Latest News|

When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax return. When filing a return, you do so with one of five tax filing statuses. In part, they depend on whether you’re married or unmarried

The Balanced Scorecard approach to strategic planning

By |2020-12-23T18:07:14+00:00December 23rd, 2020|Latest News|

In the early 1990s, the Balanced Scorecard approach to strategic planning was developed to enable business owners to better organize and visualize their objectives. With 2021 shaping up to be a year of both daunting challenges and potentially remarkable recovery, your company should have a strategic plan that’s both comprehensive and flexible. Giving this methodology

The next estimated tax deadline is January 15 if you have to make a payment

By |2020-12-22T16:59:31+00:00December 22nd, 2020|Latest News|

If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The fourth 2020 estimated tax payment deadline for individuals is Friday, January 15, 2021. Even if you do have some withholding from paychecks or payments you

Can you qualify for a medical expense tax deduction?

By |2020-12-17T15:06:24+00:00December 17th, 2020|Latest News|

You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify. But with proper planning, you may be able to time discretionary medical expenses to your advantage for tax purposes. Itemizers must meet a threshold For

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