News

The Work Opportunity Tax credit was set to expire on Dec. 31, 2020. But a law passed late last year extends it through Dec. 31, 2025. Here’s how employers can benefit if they’re hiring.

Saving now for retirement is one of the best moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2020 tax return.

Business owners may be able to save tax with home office deductions. If you’re working from home (like lots of people these days), you may qualify. Here’s a rundown of the rules.

Unemployment or other financial stressors may have you looking at the value of your life insurance policy. But before you borrow, review the potential pros and cons.

In order to claim a charitable deduction on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t received one yet for a charitable donation you made in 2020?

Buying or selling a business may be the largest transaction you’ll ever make. Pay attention to taxes. After a deal is done, it may be too late to get the best tax results.

How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they contribute to 401(k) plans this year? Here are the answers to these and other questions about tax-related inflation adjustments and changes affecting businesses.

How much can you contribute to an IRA for 2021? How much is the standard deduction? Here are some Q&As about these and other tax-related amounts for 2021.

Thinking about buying a new electric vehicle? While you’re considering factors like acceleration and the range of the battery before recharging, check out the federal tax break that may be available.

A filing requirement is coming up if your business pays independent contractors or makes other payments.

If you’re required to take distributions from a retirement plan, you may have received a respite in 2020, but you must begin taking them again this year.

The price of gas is down from a year ago. How does this affect the amount your business can deduct for business driving in 2021?

Filing your tax return early will get you any refund early and may protect you from tax identity theft. Here’s why.

Businesses that have been hit hard by the COVID-19 may be able to obtain help with PPP loans. Here are the basic rules, as well as the tax implications.

Against the odds, savings rates for Americans increased in 2020. Read on.

What follows is a summary of the stimulus relief for businesses that is part of the Consolidated Appropriations Act, 2021 (H.R. 133) which was signed into law on December 27, 2020.

Changes have been made to education tax breaks in the new Consolidated Appropriation Act.

The Employee Retention Tax Credit rewards employers that can afford to keep workers on the payroll during the COVID-19 crisis. Here’s how it changed under a new law.

Businesses received several favorable tax breaks in the COVID-19 relief bill that was recently signed into law. Here are just two of them.

Can you benefit from the massive new Consolidated Appropriation Act signed into law? Here are some of the tax highlights for individuals.

As we wind down 2020, be aware that December 31 is an important date when it comes to filing your tax return. Whether you’re married or unmarried on that date will affect how you file. Check out the 5 federal tax filing statuses and who can claim them.

The fourth estimated tax payment deadline for 2020 is coming up. Here are the details of when it is and whether you’re required to make a payment.

Are you reconsidering the choice of entity for your business? These are several factors to consider when converting from a C corporation to an S corporation. Here are four of them.

Cybercrime isn’t always perpetrated by anonymous hackers in foreign countries. Some of the criminals stealing a company’s data could be employees. Reduce the risk of insider cyberattacks by following these tips.

Businesses face a variety of tax-related deadlines in the first quarter of 2021. Here are some of them.