News

Have you received an Economic Impact Payment only to find out it’s less than what you were expecting? Here are some of the reasons why.

Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA contribution for the 2019 tax year between now
and the extended tax filing deadline and claim the write-off on your 2019 return.

If you get a PPP loan and use the proceeds on certain expenses, the loan amount will be forgiven. Can you then deduct the expenses on your tax return? The IRS answers that question in new guidance.

If you're a retailer who hasn't had time to review the CARES Act tax credits and incentives, read on — then by all means, let us help you!

Food and financial insecurity have increased during the coronavirus (COVID-19) pandemic. If your business is donating to charity to help ease the pain, you may be eligible for enhanced charitable donation deductions.

If you’re like most Americans, the coronavirus (COVID-19) pandemic has led to many questions. Health issues are of utmost concern but you may also have many financial questions.
Here are some answers.

The CARES Act includes favorable changes to the rules for deducting net operating losses (NOLs). Here’s how.

Consider turning a stock market downturn into a tax-saving opportunity by converting a traditional IRA into a Roth IRA.

During these tough times, your business may be saving money by using independent contractors, rather than hiring employees. Make sure to follow all the rules or you could hear from the IRS.

Fun fact: The CARES Act makes it easier to take hardship distributions from retirement accounts.

As the Economic Impact Payments (EIPs) continue to go out, the IRS has released information about why you might not have gotten a payment. There’s also a new tool to check the
status of your EIP.

A drafting error by Congress meant that some improvements to interior parts of nonresidential buildings had to be deducted over 39 years. But a new law that provides COVID-19 relief fixes the error and may result in revenue for eligible businesses.

As a business with employees, you may have questions about the new employee retention tax credit. Here are some answers.

Expecting an Economic Impact Payment from the IRS? The tax agency has made a few new announcements about the financial relief the government is providing.

The coronavirus (COVID-19) crisis has resulted in unprecedented challenges for employers. Here are the details of some relief from the federal government.

During the COVID-19 crisis, many people and charitable organizations need cash. The new CARES Act may provide some solutions.

You’ve probably heard about the cash payments the government is sending out due to the coronavirus (COVID-19) pandemic. Do you qualify?

You may be considering a home improvement project, but before you move forward, learn which renovations are most likely to increase your home's value.

The coronavirus (COVID-19) pandemic has changed life across the country. The IRS and Congress have responded with some tax and financial relief. Here’s a brief rundown of what’s
been provided so far.

Another coronavirus (COVID-19) law has been enacted and it provides some relief to businesses and employers that are suffering. This article provides some highlights.

In response to the coronavirus (COVID-19), Congress and the IRS have recently provided tax relief to businesses. Here’s a brief rundown.

NMS will remain open, but no clients will be allowed into our offices for your health and safety and ours. Read on for how we'll still be here for you - only virtually!

When it comes to executive compensation, C corporation owners need to keep it “reasonable.” Here’s why.

Despite rumors, the un-extended due date to file your individual tax returns remains April 15. What has changed? Read more here.

You bought life insurance to protect your family or other beneficiaries. Here’s how to avoid having the benefits be subject to federal estate tax.