by briesterer | Apr 30, 2021 | Tax & Accounting
Prenuptial agreements and domestic law vary from one state to another but nearly every state has laws that prevent one spouse from entirely disinheriting the other. However, with a prenuptial agreement, one spouse can waive his or her right to the other spouse’s...
by briesterer | Apr 30, 2021 | Tax & Accounting
Unfortunately, many businesses have already been forced to close their doors due to the economic fallout from COVID-19, and more will surely follow. Closing a business has important federal income tax implications that owners should understand. Here’s what owners of...
by briesterer | Apr 9, 2021 | Tax & Accounting
Many people started businesses in 2020, and many others plan to launch new ventures in 2021. Entrepreneurs often have questions about whether business expenses for a start-up can be deducted in the year they’re incurred or paid — or whether they must be capitalized...
by briesterer | Apr 9, 2021 | Tax & Accounting
If you’re self-employed as a sole proprietor, partner, or limited liability company (LLC) member, COVID-relief legislation passed in 2020 included tax breaks that may affect your 2020 personal federal income tax return. In some cases, the tax savings may be...
by briesterer | Mar 26, 2021 | Tax & Accounting
On Thursday of last week, President Joe Biden signed the $1.9 trillion coronavirus relief package, entitled the New American Rescue Plan Act, into law. It was created to help the financial hardships brought on by COVID-19. The bill is geared to help individuals as...
by briesterer | Mar 26, 2021 | Tax & Accounting
The IRS and the U.S. Department of Treasury announced yesterday that the 2021 income tax filing deadline has been extended from April 15, 2021, to May 17, 2021. The IRS will be providing additional guidance in the coming days. Individuals can also delay federal income...
