Independent Contractor vs. Employee
Today more and more businesses are making increasing use of outside workers to cut costs, including payroll tax costs. Unfortunately, this trend has caught the attention of the IRS. What…
Possible refund for taxes paid on 2020 unemployment compensation
The IRS is reviewing tax returns filed before the American Rescue Plan of 2021 became law in March to determine the correct taxable amount of unemployment compensation and tax. For…
Charitable Giving: Certain Requirements and Tax Saving Techniques
You probably know that you can get an income tax deduction for a gift to a charity if you itemize your deductions. But there is a lot more to charitable…
What to consider when selling a house
It’s important for taxpayers to understand how selling their home may affect their tax return. When filing their taxes, they may qualify to exclude all or part of any gain…
How saying “I do” affects a couple’s tax situation
The arrival of summer is also the start of wedding season. Marriage changes many things and taxes is one of them. Newlyweds should know how tying the knot can affect…
Reminder: 2021 Second Quarter Estimated Tax Payments Extended in Designated Disaster Areas
As announced by the IRS back in May, second quarter (Q2) estimated tax payments for individuals, businesses, and trusts with addresses in the previously designated affected disaster areas (from the March…
Identity theft protection for taxpayers in six steps
Tax-related identity theft is unfortunately a reality. It occurs when someone uses a taxpayer’s stolen personal information, such as a Social Security number, to file a tax return claiming a…
Checking withholding can help you decide if you need to give your employer a new W-4
All taxpayers should review their federal withholding each year to make sure they’re not having too little or too much tax withheld. Employees, retirees and self-employed individuals can use the IRS…
SBA Launches $100M Community Navigator Pilot Program
The SBA announced this week that it is accepting applications for its new Community Navigator Pilot Program. This new initiative, established by the American Rescue Plan, will leverage a community navigator approach to reach…
Check the status of your federal tax return
The most convenient way to check on a tax refund is by using the Internal Revenue Service’s Where’s My Refund? tool. Taxpayers can start checking their refund status within 24 hours…