The Paycheck Protection Program (PPP) loans are a popular option for businesses struggling due to COVID-19, but understanding the tax obligations associated with them can be confusing and challenging,
Read MoreWe Americans will have a long menu of tax changes for the 2020 tax year...and it's never too early to start thinking about managing next year's return. And there's a lot of good news.Just a few months
Read MoreThe IRS recently rolled out three new coronavirus tax breaks for businesses aimed at helping them through the coronavirus pandemic. As businesses and individuals across the country have been hit hard
Read MoreNow that the 2020 tax season is upon us, taxpayers — and their advisors — should proactively consider some of the challenges that they will likely face with common tax problems.While it’s been more
Read MoreIn the eleventh-hour of 2019, the House passed a $426 billion tax cut plan that would revive a hodgepodge of benefits known as extenders, kill a controversial tax on church parking, rescind several Obamacare
Read MoreNo one likes to pay taxes unnecessarily, but that's what a lot of people who inherit IRAs wind up doing. Failing to track down the IRA basis associated with an inheritance can be a costly mistake.IRA basis
Read MoreIf you believe that tax breaks are reserved for the well-off: hedge fund managers and companies with offshore subsidiaries, you’re likely paying too much to the IRS.Lawmakers have enacted dozens of tax
Read MoreThe standard deduction reduces your taxable income. For 2018 taxes, the standard deduction is $12,000 for single filers and married filers filing separately, $24,000 for married filers filing jointly and
Read MoreThe U.S. Treasury Department is again reducing penalties for taxpayers who didn’t pay enough of their tax bill throughout the year.Taxpayers who paid at least 80 percent of their estimated tax liability
Read MoreIf you work for a living, you know that your wages are taxable, and you’re probably aware that some investment income is taxed, too. But the IRS doesn’t stop there.If you’ve picked up some extra
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