January 17, 2022
Running a business has many challenges, and one of the challenges business owners face is keeping good records. This applies to all businesses, whether they have a couple dozen employees or just a few.
January 11, 2022
Rental real estate has been attracting savvy investors for years. Qualified Business Income Deduction (QBID) is not new news either! The allure of purchasing rental properties to grow your portfolio and have additional tax write-offs works if you partner with a CPA firm that understands your overall goals and can identify if it is a good investment for you.
January 03, 2022
Last year the IRS released Form 1099-NEC for businesses to report non-employee compensation of $600 or more, and the same rules will apply for the 2021 tax season.
December 20, 2021
The IRS has issued guidance that clarifies how the temporary 100% business deduction for food or beverages from restaurants applies to taxpayers properly applying the rules for using per diem rates.
December 15, 2021
Having a 7-figure realized (or about to be realized) gain of million dollars in stock sales this year and dreading of their taxes? Donating to a Donor Advisory Funds (DAFs) may be the answer. In a nutshell, you can donate the stocks into the fund if the gain is unrealized or donate the cash to receive an immediate tax deduction while having more time to review the options of what charities you will support.
November 30, 2021
During the COVID pandemic, many employees were forced to work from home. Today more people are working from home than ever before. For many employees, remote work may allow them to claim a home office as a deduction for the first time.