The IRS has always allowed businesses to deduct certain meal expenses. Often, treating clients (or prospective clients) to a meal at a restaurant is a part of doing business and, therefore, qualifies as a business expense. Typically, meals purchased for a client would be 50% deductible. But now, you may be able to deduct 100% of those meal expenses, provided that the proper conditions are met.
Every tax season, hundreds of taxpayers become prey to tax scams. One of the most common scams out there is for a thief to file a false return using your name and Social Security number. How can you avoid becoming a victim of this scam? IP PINs may be the answer.
When planning for your estate, many people are concerned about how much their beneficiaries will lose to taxes when they pass away. This article will give you a look at the current estate tax limits and gift tax laws.
Don’t rush through your usual tax filing process without first becoming familiar with some important tax law changes that apply to your 2020 return. Keep reading to learn more about which changes might affect you.
How will your stimulus check or PPP loan impact your tax return? Keep reading to find out.
The COVID-19 pandemic and the subsequent Coronavirus Aid, Relief, and Economic Security (CARES) Act have impacted the taxes, income, and retirement plans of American citizens in countless ways. Many individuals have seen a dramatic drop in the value of their investments, including their IRAs and other retirement accounts. In response to this, the CARES Act included a provision that allows retirees to skip their required minimum distribution (RMD) for 2020. Keep reading to learn more about this waiver and how it applies to you.
When the COVID-19 pandemic struck the United States at the beginning of the tax season, the federal government quickly pushed the tax deadline to July 15th. But if you're not ready to file yet, can you get another extension on your return?
Every year (for the last 10 years) Frank has provided the meat and does the actual smoking/BBQ for the Loveland Center’s annual fundraiser. Not only was this the 10th year, they broke records for the amount raised.
Every person’s tax situation is unique. If you would like to understand how the new tax laws impact you, give us a call and set up on appointment to meet with one of our CPA’s. We are happy to discuss your unique situation and help you get the most benefit from the new rules.