Learning Center
THERE IS MORE TO DEDUCTING HEALTH INSURANCE THAN MEETS THE EYE
Article Highlights: Itemized Deduction AGI Limitations What Insurance is Deductible Above-the-Line Deduction for the Self-Employed Income Limitation Subsidized Limitation Health insurance premiums, especially in the wake of the Affordable Care Act, have risen dramatically and are one
THE SBA ISSUES A SIMPLIFIED PPP LOAN-FORGIVENESS APPLICATION
Article Highlights: Paycheck Protection Program Loans Forgiveness Application The Small Business Administration (SBA) The Paycheck Protection Program Flexibility Act SBA Forgiveness Form 3508 SBA Forgiveness Form 3508EZ SBA Forgiveness Form 3508S If you are the owner of
LIVE UPDATES: THE LATEST COVID-19 NEWS FOR TAXPAYERS AND SMALL BUSINESS OWNERS
As the whole world grapples with the personal, professional, and economic fallout of the COVID-19 outbreak, we wanted to help our tax and small business clients stay up to date on the latest news affecting them each
COVID-19 RESOURCE GUIDE: TAXPAYERS & SMALL BUSINESSES
During the coronavirus pandemic, it’s our goal to continue supporting the health, safety, and prosperity of our clients in any way we can. In this post, we’ve compiled some key resources for taxpayers and small business owners
GAMBLING AND TAX GOTCHAS
Article Highlights: Winnings Losses Social Security Income Health Care Insurance Premium Subsidies Medicare B & D Premiums Online Gambling Accounts Gambling is a recreational activity for many taxpayers, and as one might expect, the government takes a
IS A LIVING TRUST APPROPRIATE FOR YOU?
Article Highlights: What Is a Living Trust? Is a Living Trust Appropriate? Establishing a Living Trust Pros of a Revocable Trust Cons of a Revocable Trust You have probably heard others discussing living trusts but may not
SOLAR TAX CREDIT IS SUNSETTING SOON
Article Highlights: Solar Credit Phasing Out Qualifying Property When is the Credit Available? Who Gets the Credit Multiple Installations Battery Installation Costs Basis Adjustment Association or Cooperative Costs Mixed-Use Property Newly Constructed Homes Utility Subsidy Solar Installations
KEEPING YOUR DESIGNATED IRA BENEFICIARY CURRENT IS IMPORTANT
Article Highlights: How Naming Beneficiaries Impacts Traditional IRA Distributions The Impact of Naming Your Trust as a Beneficiary IRA Beneficiary Taxation Keeping your designated IRA beneficiary current is very important. You may not want your account going
TAX CONSEQUENCES OF LOSING YOUR JOB
Article Highlights: Severance Pay Unemployment Compensation Health Insurance Employer Pension Plan Coronavirus-related Distributions Home Sale If you have lost your job, there are a number of tax issues you may encounter. How you deal with these issues