Are you ready for the 2021 gift tax return deadline?
Find out if you’re required to file a 2021 gift tax return this April. (Note: you may want to file one anyway).
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Outlook
News, views, and ideas shaping the future.
Wally Khoury
Feb 23, 20222 min read
Can you deduct the costs of a spouse on a business trip?
If you own your own business, the rules for deducting a spouse’s travel costs are very restrictive. Here are the rules.
Victoria Ma
Feb 15, 20222 min read
Married couples filing separate tax returns: Why would they do it?
In general, married couples who file jointly save more money on taxes than those who file separate returns. When should you file separate?
Tricia Austing
Feb 14, 20223 min read
Making withdrawals from your closely held corporation that aren't taxed as dividends
There might be ways to get cash out of your corporation without dividend treatment. Here are some approaches.
Wally Khoury
Feb 8, 20222 min read
Did you give to charity in 2021? Make sure you have substantiation
Here are the rules if you're deducting a charitable contribution on your tax return of $250 or more.
Gwen DiMeo
Feb 7, 20222 min read
Important tax aspects of operating your business as a sole proprietor
Many small businesses operate as sole proprietorships. Here are eight tax issues involved in operating as this entity.
Mike Hawkins
Feb 3, 20224 min read
New tax reporting requirements for payment apps could affect you
If you receive payments through services such as Venmo or PayPal, be aware that there are new tax reporting requirements beginning this year
Linda Brogan
Feb 2, 20223 min read
The Ins and Outs of IRAs
Traditional or Roth IRA? Here are the differences in these retirement savings accounts.
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Feb 1, 20223 min read
Keeping meticulous records is the key to tax deductions and painless IRS audits
A careful approach to keeping business records can protect your tax deductions & help make an IRS audit much less difficult.
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Jan 26, 20222 min read
Entrepreneurs and taxes: How expenses are claimed on tax returns
Entrepreneurs be aware: Not all start-up expenses can be deducted on your federal tax return right away. Some may have to be amortized.
Avleen Marwah
Jan 21, 20223 min read
Help safeguard your personal information by filing your 2021 tax return early
Want to get your tax return sooner and protect yourself from tax identity theft? File your tax return early.
Troy Skeens
Jan 21, 20222 min read
Numerous tax limits affecting businesses have increased for 2022
Here are the answers to questions about tax inflation adjusted amounts and other changes affecting businesses.
Bailey Crane
Jan 11, 20223 min read
How will revised tax limits affect your 2022 taxes?
How much can you contribute to an IRA? How much is the standard deduction? Here are answers to these & other tax-related questions for 2022.
Kristin Rohlfs
Jan 10, 20222 min read
Businesses with employees who receive tips may be eligible for a tax credit
Keep in mind that employers in the food and beverage industry may be eligible for a tax break with the FICA tip credit. Here's how it works.
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Jan 4, 20223 min read
Ae you eligible for a medical expense tax deduction?
Your new year’s resolution may be to take better care of your health. But can you deduct your out-of-pocket medical costs on your taxes?
Jamie Applegate
Jan 4, 20223 min read
Defer tax with a like-kind exchange
If you want to sell commercial or investment real estate, the “like-kind” exchange strategy may be attractive to you.
Victoria Ma
Dec 23, 20212 min read
There's a deduction for student loan interest... but do you qualify for it?
College is expensive & you may have taken student loans to pay for it. Can you deduct the interest you pay on these loans? Here's the rules.
Chris Luckhaupt
Dec 22, 20214 min read
Looking for a 2022 safety net for your business? Act on EIDL funding before year end
There’s still time to apply for COVID-19 Economic Injury Disaster Loan (EIDL) funding, but time is running short.
Gwen DiMeo
Dec 20, 20211 min read
2020 Payroll Tax Deferral Installment due December 31
Under the CARES Act, employers were allowed to defer payment of certain 2020 payroll taxes until 2021 and 2022.
Brian Stautberg
Dec 17, 20212 min read
Do you have employees working from home? Beware of city tax law changes in 2022!
Do you have employees working from home? You will want to review the city tax law changes that are coming in 2022.
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