Selected CARES Act Tax Provisions
By Jack Kiley, CPA On March 27, the Government moved with uncharacteristic speed to pass what is called the Coronavirus Aid, Relief, and Economic Security Act more commonly known as the CARES Act. This massive 800-page bill includes aid on support for specific...
Your Economic Impact Payment Questions, Answered.
As the Economic Impact Payments (EIPs) continue to go out, the IRS has released information about why you might not have gotten a payment. There’s also a new tool to check the status of your EIP.
Eligible IRA Withdrawals Now Penalty-free
Fun fact: The CARES Act makes it easier to take hardship distributions from retirement accounts.
Retirement Plan and Charitable Contribution Rule Changes
During the COVID-19 crisis, many people and charitable organizations need cash. The new CARES Act may provide some solutions.
The New COVID-19 Law Provides Businesses with More Relief
Another coronavirus (COVID-19) law has been enacted and it provides some relief to businesses and employers that are suffering. This article provides some highlights.
Why you Should Keep Life Insurance out of Your Estate
You bought life insurance to protect your family or other beneficiaries. Here’s how to avoid having the benefits be subject to federal estate tax.
The 2019 Gift Tax Return Deadline is Coming up
April 15 isn’t only the income tax return deadline. It’s also the gift tax return deadline for people who made large gifts last year. Find out if you’re required to file a 2019 gift tax return this April (or if you may want to file one anyway).
Home is Where the Tax Breaks Might be.
Buying a home and want to know how much of a tax break you’ll get for paying mortgage interest? Here are the rules.
Do you Run Your Business From Home? You Might be Eligible for Home Office Deductions
Do you operate your business from home or perform certain functions at home that are related to your business? You might be able to claim home office deductions on your tax return.
Reasons Why Married Couples Might Want to File Separate Tax Returns
In most cases, married couples who file jointly save more money on taxes than those who file separate returns. However, there are cases when filing separately is a better option.