IRA account value down? Income lower than normal? It might be a good time for a Roth conversion
The coronavirus (COVID-19) pandemic has caused the value of some retirement accounts to decrease. Other taxpayers are experiencing an...
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Businesses: Get ready for the new Form 1099-NEC
There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must...
What qualifies as a “coronavirus-related distribution” from a retirement plan?
As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain...
5 key points about bonus depreciation
You’re probably aware of the 100% bonus depreciation tax break that’s available for a wide range of qualifying property. Here are five...
More parents may owe “nanny tax” this year, due to COVID-19
In the COVID-19 era, many parents are hiring nannies, full time tutors, and babysitters because their daycare centers and summer camps...