Posted on January 21, 2020
by
Andreea Cioara
The IRS recently updated the daily rates that employers may use to reimburse their employees for the ordinary and necessary expenses incurred when traveling for business purposes, including the costs that workers pay out of their own pockets for lodging, meals and entertainment, rental cars and car-share services. In general, companies have two options when […]
Posted on January 16, 2020
by
Rick Bazzani
The 2020 tax season officially begins on January 27, when the IRS will begin accepting and processing individuals’ electronically filed tax returns for 2019. With the federal filing deadline on Wednesday, April 15, taxpayers have just two-and-a-half months to gather important documents, meet with their tax advisors and pay any outstanding tax liabilities from 2019. […]
Posted on January 14, 2020
Two of the easiest steps you can take to protect yourself from identity theft, cyberthreats and loss of personal information and/or money is to 1) use strong passwords and 2) rely on multi-factor authentication when logging into their online accounts. With the start of the 2020 tax season and the proliferation of scams targeting taxpayers […]
Posted on January 09, 2020
by
Lewis Kevelson
Art collectors who accumulate artwork over their lifetimes tend to have limited interest in selling any of the pieces in their collections, according to a recent study conducted by UBS. Instead, most collectors develop an emotional attachment to the artwork they acquire and prefer to display their collections in their homes for their own personal […]
Posted on December 30, 2019
by
Jack Winter
Businesses have until January 31, 2020, to file employee wage statements and non-employee compensation forms with the federal government for tax year 2019. Failure to correctly and timely file this information may result in penalties and back wages and back taxes. The Forms to File Employers must provide IRS Forms W-2, Wage and Tax Statement, […]
Posted on December 30, 2019
by
Richard Cabrera
Since Congress passed the Tax Cuts and Jobs Act (TCJA) in December 2017, it has focused a lot of attention on the new law’s lower individual and corporate tax rates. What Congress is not publicizing are some the revenue raisers it wrote into the TCJA to pay for the new tax cuts, including the elimination […]
Posted on December 23, 2019
by
Adam Cohen
According to the IRS, gift card scams are on the rise as thieves look for new ways to swindle people out of money and/or steal their identities. The best ways to protect yourself from becoming a victim is to stay vigilant, recognize the warning signs, and think before you give away any of your personal […]
For many small business owners, taxes are a once-a-year chore that requires them to dig through files of paper and pull together all of the documents required by their tax preparers to file their annual returns. Truth be told, maintaining tax compliance and minimizing one’s annual tax bill is a year-round process that demands constant […]
Posted on December 17, 2019
by
Joanie Stein
It is not uncommon for entrepreneurs to go into business with family members or to employ close relatives to work in their companies. In fact, putting family members on your payroll can not only help them earn their own money and gain valuable work experience, but it can also provide business owners with some unique […]
The IRS issued final regulations confirming that taxpayers who take advantage of the increased gift and estate tax exemptions in effect temporarily under the new tax law until 2026 will not be subject to tax in later years when the generous provision is set to expire. The announcement allays fears that tax-free gifts made today […]
