Retirement Savings for the Self-Employed
Many tax-favored options are available to self-employed individuals to provide for their retirement. Tax planning for retirement can include deductible contributions to a traditional or Roth IRA, SEP plan, SIMPLE…
Tax Deadline Extended / Tips on Submitting Tax Information
This has certainly been a challenging tax season for many reasons. The Crosslin tax team is currently working remotely to make sure that all of our client deadline needs are…
The Families First Coronavirus Response Act – What It Means for Employers
The Families First Coronavirus Response Act (H.R. 6201), became law on March 18, 2020. The Act guarantees free testing for the novel coronavirus (COVID-19), establishes emergency paid sick leave, expands…
Summary of Tax Deadline Changes
With the influx of news and uncertainty over the last few weeks due to both the Middle Tennessee tornado and coronavirus, we wanted to summarize the changes that the IRS…
Benefits of Lowering Adjusted Gross Income
Taking steps to reduce your income can reduce your overall tax burden. Individual taxpayers may be able to reduce their taxable income through deductions if they meet the qualifications and…
Tax Planning: Household Employees
If you hire people to work in your home, you may be legally obligated to pay their federal and state payroll taxes. You must also indicate on your own annual…
Filing Time Extensions for Tornado Victims
As many of you may start to hear soon, the IRS has granted filing relief to victims of the recent tornadoes by extending the filing and payment dates for many…
IRS Updates Rules on Per Diem Rates
The IRS has updated its guidance to reflect changes made by the Tax Cuts and Jobs Act (TCJA) regarding the rules for determining the amount of an employee’s ordinary and…
The Importance of Proper Documentation to File Your Taxes
Today’s tax tip from the IRS is so relevant, we want to share. Providing the right documentation on the front end is so important to facilitating a complete, accurate, and…
If you sold a paperclip in another state is it taxable?
Check out the recent Nashville Business Journal article where Crosslin’s Jason Sweatt tackles questions regarding what’s taxable when you are conducting business in other states. Very informative! Contact Jason or…
