Read more about how scammers are taking advantage of the Coronavirus Pandemic Taxpayers should be on the lookout for calls and email phishing attempts regarding the Coronavirus, or COVID-19 that could lead to tax-related fraud and identity theft. Because…
2019 Tax Return and 2020 Estimated Tax Payments Due 7/15/20. As a reminder, taxpayers now have until July 15, 2020, to file and pay federal income taxes originally due on April 15 and no late-filing penalty, late-payment penalty or…
More information than you ever wanted about Depreciation: Section 179, Bonus Depreciation and Qualified Improvement Property. Final regulations dealing with the 100 percent bonus depreciation allowance for qualified property acquired and placed in service after September 27, 2017, allow…
Is your business considered an SSTB? See a discussion about the new TCJA 20% Qualified Business Income Deduction. Republicans’ 2017 overhaul of the tax code created a new 20-percent deduction of qualified business income (QBI), subject to certain limitations,…
Are you reporting your Cryptocurrency Transactions? IRS views Cryptocurrency as an Investment. The IRS has released cryptocurrency guidance and frequently asked questions (FAQs) on virtual currency. Under the cryptocurrency guidance: a taxpayer does not have gross income from a…