Reconstruct Records Lost in a Natural Disaster
Between tornadoes, floods, and hurricanes for some of our southern and eastern neighbors, we have witnessed our fair share of national disasters over the last several years. Reconstructing records after…
A Guide to Individual Retirement Arrangements
Many taxpayers may have heard of Individual Retirement Arrangements, or IRAs, but some don’t know how IRAs help them save for retirement. People can set up an IRA with a…
Businesses can file cash transaction reports electronically and in batches
Businesses that receive cash transactions of more than $10,000 must report these payments to the IRS – it’s the law. Now businesses can batch file their cash reports; this is…
Transaction Planning: Sale of Residence
You may qualify to exclude from your income all or part of any gain from the sale of your main home. Your main home is the one in which you…
IRS Addresses Employee Payroll Tax Deferral
The IRS issued Notice 2020-65 that provides some needed guidance for employers wondering whether and how to comply with the employee payroll tax deferral described in the August 8, 2020 Presidential memorandum (often referred…
THE 2020 TAX PLANNING PARADOX – ACCELERATE INCOME TO LOWER YOUR TOTAL TAX LIABILITY
As 2020 winds down, it’s time to consider year-end planning. It’s an unusual year, with taxpayers experiencing losses due to the economic downturn and the possibility of higher income tax…
Tips on Virtual Business Meeting Etiquette
Virtual meetings are here to stay; they are the future! Like face-to-face meetings, virtual meetings should be effective, concise, and professional. Your clients and other participants should feel valued. “I’ve…
Dan Warren Promoted to Tax Principal
Crosslin is pleased to announce that Dan Warren has been promoted to principal in the tax department. In this role, he will assume a broader responsibility in leading the Crosslin…
Follow-Up on Tennessee Business Relief Program Instructions
[Note that this program is limited to smaller taxpayers and to businesses only in certain sectors. Although we are working hard to identify and help our clients who are eligible…
2020 Tax Planning: Retirement Savings for Individuals
Now is a good time to review and evaluate your retirement savings. The tax code provides significant incentives for individuals to make contributions to retirement savings and plans, including traditional…