“Marriage Penalty” Update for 2020 Taxes

“Marriage Penalty” Update for 2020 Taxes

Recently there have been some developments regarding so-called “marriage penalty” that some couples experience when filing taxes. This penalty occurs when spouses that have similar gross incomes pay more in taxes when filing jointly than they would if they had...
IRS Payment Options

IRS Payment Options

https://youtu.be/jsWi7WFCUKQ If you are an individual, family, or a business owner and struggling to pay your income taxes, the IRS has some payment plans that may help you.  The first one is an installment agreement. This would allow you to make a payment plan...
Deductibility of Alternative Health Plans

Deductibility of Alternative Health Plans

Have you noticed that the cost of insurance has gone up year after year? Are you aware that premiums have increased over 54% since 2009?  The IRS has recently issued regulations that may help you with the cost of your insurance. It has now allowed two different...
Exciting News! PPP Forgiveness is Here!

Exciting News! PPP Forgiveness is Here!

Are you an employer who received a PPP loan and were waiting to find out if the IRS guidelines of non-deductibility were going to remain, or if Congress was going to make an adjustment? Well, I have great news for you! As of Monday, December 21st, Congress passed a...
Tips for Writing Off End-of-Year Business Assets

Tips for Writing Off End-of-Year Business Assets

If you’re hoping to capture some big write-offs for your company’s 2020 tax return, acquiring new business assets may be the way to go. Recent legislative changes have made deductions for new equipment put into service in 2020 even more enticing, especially in the...
Work Opportunity Credit

Work Opportunity Credit

https://youtu.be/y6O5uhfEK8s Are you an employer looking to hire staff in your company? Are you aware that there’s a federal tax credit available to you?  If you hire someone from a targeted group, the Work Opportunity Tax Credit is one issued by the...

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