Examine Will or Trust

How to Protect Yourself Against Coronavirus-Related Fraud

The global coronavirus pandemic has changed every single facet of our world – from the way we work to how we live our day-to-day lives – and we have been forced to quickly adjust to a new normal. Unfortunately, there are those out there…
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Charity Volunteer Tax Breaks

If you volunteered your time for a charity or governmental entity during the COVID-19 pandemic, you probably qualify for some tax breaks. These rules actually apply to all charity volunteers not just COVID-19 volunteers. Although no tax deduction…
Tax Reform

You Should Be Keeping Home Improvement Records

Individuals who meet the 2-out-of-5-year use and ownership tests can exclude up to $250,000 ($500,000 if both filer and spouse qualify) of gain from the sale of their home, and generally don’t need to keep a record of improvements made to…
Hand Drawing Money
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We're Officially in a Recession, So Make These 5 Money Moves Now

It has been more than ten years since the United States’ economy has gone through a recession, and when the National Bureau of Economic Research announced in June that we have officially entered another, it hit many Americans like a body blow. The…

Big Tax Breaks for Hiring Your Children in the Family Business

With jobs at a premium during the COVID-19 pandemic, you might consider hiring your children to help out in your business. Financially, it makes more sense to keep the family employed rather than hiring strangers, provided, of course, that the…
Man with Keyboards

Employers, Don’t Miss Out on the Work Opportunity Credit

The Taxpayer Certainty and Disaster Tax Relief Act of 2019 extended the Work Opportunity Tax Credit (WOTC) allowing employers who are willing to help disadvantaged individuals  to benefit from a substantial federal tax credit. The WOTC is…

Wealthy Taxpayers May Want to Strategize for Potential Tax Increases

The outcome of the November elections could have a significant impact on taxes for the wealthy. The COVID-19 pandemic has wreaked havoc on the economy, as the government’s tax revenues have declined while government spending has soared. Although…
Hand Drawing Money

Government Keeping Your Refund?

We all look forward to receiving our tax refunds, but what if you were expecting a refund and it never arrived?  It may be because you have outstanding federal or state debts—and not just tax-related debts.  The Treasury Department’s Bureau…
US Currency
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Loan Application Period for the Paycheck Protection Program Extended

If you missed the opportunity to apply for a Paycheck Protection Program (PPP) loan before the program expired at the end of June, you have another chance. Congress has overwhelmingly voted to extend the application period for a PPP loan through…