by Admin | Jan 15, 2021 | Business Taxes
Filing annual wage reports is just one of the many end-of-year responsibilities expected of every business. But the task is not as straightforward as some would think. The reports get sent to the people who have received wages, and at the same time they get filed with...
by Admin | Jan 13, 2021 | Business Taxes
This is our annual reminder that if you use workers other than employees to perform services for your business and pay them $600 or more for the year, you are required to issue each one a Form 1099-NEC after the end of the year to avoid facing the loss of the...
by Admin | Jan 11, 2021 | COVID-19, Individual Taxes
One of the more tax-troubling issues this year has been the distribution of what Congress referred to as the recovery rebates. You may know these payments as the Economic Impact Payments (EIPs) or stimulus payments, names that the IRS took the liberty of creating....
by Admin | Jan 7, 2021 | Individual Taxes
Many taxpayers rent out their first or second homes without considering tax consequences. Some of these rules can be beneficial, while others can be very detrimental. If you renting your home to others, then you should be aware of some special tax rules that probably...
by Admin | Jan 5, 2021 | Individual Taxes
Is inheritance taxable? This is a frequently misunderstood taxation issue, and the answer can be complicated. When someone passes away, all of their assets (their estate) will be subject to estate taxation, and whatever is left after paying the estate tax passes to...
