by briesterer | Dec 15, 2020 | Tax & Accounting
Most people aren’t currently exposed to the federal estate tax, thanks to the generous unified federal estate and gift tax exemptions. However, there are still good reasons to review your estate plan and possibly update it to reflect the current federal estate and...
by briesterer | Dec 13, 2020 | Tax & Accounting
Many small business owners are looking forward to the end of 2020. It’s been a year of significant hardship and stress. But staying afloat remains a daunting challenge in 2021. Here are 16 ideas to help reduce costs without sacrificing quality in the new year....
by briesterer | Oct 5, 2020 | Tax & Accounting
On September 30, 2020 the IRS released final rules on the tax calculation of business meals and entertainment with respect to the Tax Cuts and Jobs Act (TCJA) that disallows a deduction for most entertainment. While food and beverage deductions are generally limited...
by briesterer | Sep 28, 2020 | Tax & Accounting
The Internal Revenue Service (IRS) released a breakdown by state of approximately 9 million people who don’t file a federal income tax return to receive a special notice by mail encouraging them to verify whether they are eligible to claim an Economic Impact Payment....
by briesterer | Apr 26, 2020 | Tax & Accounting
The Internal Revenue Service urged taxpayers to be on the lookout for a surge of calls and email phishing attempts about the Coronavirus, or COVID-19. These contacts can lead to tax-related fraud and identity theft. “We urge people to take extra care during this...
by briesterer | Mar 27, 2020 | Tax & Accounting
In FAQs posted on March 23, 2020, the IRS answered many of the questions regarding the July 15 filing and payment extension announced in IRS Notice 2020-18. Note the following highlights: Filing and payment extension is only available for the following returns: Form...
