IRS’s Dirty Dozen
Each year, the IRS publishes a list of the twelve most common tax scams. What are the dirty dozen for 2020? … [Read more...] about IRS’s Dirty Dozen
Tax Advisory
Tips and Articles on Tax Advisory
Cancellation of Debt Income
In the current crisis, more taxpayers than usual are unable to pay their bills and are seeking debt forgiveness. The general rule is that cancelled debts are included in the income of the taxpayer. However, exceptions may allow the taxpayer to … [Read more...] about Cancellation of Debt Income
Hobby Income
It Might be a Business after all If you have income from sources other than your main job, how do you know whether it’s income from a business or hobby? Like many of us, you’ve probably dreamed of turning a hobby or pastime into a regular … [Read more...] about Hobby Income
Mid-Year Tax Checkup
As you complete your tax return this year, are you surprised by the amount of your balance due or refund? Many people are unpleasantly surprised by the balance due. How can you prepare so that tax time is, if not pleasant, at least less … [Read more...] about Mid-Year Tax Checkup
Relief for Individuals
You can receive two weeks (up to 80 hours) of paid sick leave at 100% of your normal pay if you are unable to work because you are quarantined, and/or experiencing COVID-19 symptoms and seeking a medical diagnosis. You can receive two weeks (up … [Read more...] about Relief for Individuals
Credits for Small Business Owners
If you have employees who are unable to work because of COVID-19 quarantine or self-quarantine, or have COVID-19 symptoms and are seeking a medical diagnosis, you may receive a refundable sick leave credit for sick leave at the employee’s regular … [Read more...] about Credits for Small Business Owners
