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Seasonal Workers and the Healthcare Law
Businesses often need to hire workers on a seasonal or part-time basis. For example, some businesses may need seasonal help for holidays, harvest seasons, commercial fishing, or sporting events. Whether you are getting paid or paying someone else, questions often...
Tax Tips for Owners of Historic Buildings
If you own a historic building you should know about a tax credit called the rehabilitation tax credit, which offers an incentive to renovate and restore old or historic buildings. Here are seven facts that building owners should know about this credit: The credit is...
Tax Treatment of Virtual Currency Transactions
If you've invested in Bitcoin and decide to sell you need to consider the impact of virtual currency transactions on your taxes. Here's what you should know: Background Prior to 2014, there was no IRS guidance and many people did not understand that selling virtual...
Year-End Tax Planning Strategies for Businesses
A number of end-of-year tax planning strategies are available to business owners that can be used to reduce their tax liability. Here are a few of them: Deferring Income Businesses using the cash method of accounting can defer income into 2020 by delaying end-of-year...
Year-End Tax Planning for Individuals
With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax burden for 2019. General Tax planning Strategies General tax planning strategies for individuals include postponing income and...
Reducing the Impact of a Malware Attack
According to the SANS Institute, “Since the beginning of this calendar year, 49 US school districts, colleges, and universities have reported ransomware infections. The education sector is second in number of reported ransomware attacks only to municipalities, of...
Rental Real Estate Qualifies As A Business
A safe harbor is now available for taxpayers seeking to claim the section 199A deduction with respect to a "rental real estate enterprise." What this means is that certain interests in rental real estate - including interests in mixed-use property - are allowed to be...
Expat Compliance With US Tax Filing Obligations
Taxpayers who relinquish citizenship without complying with their U.S. tax obligations are subject to the significant tax consequences of the U.S. expatriation tax regime. If you're an expat who has relinquished -- or intends to relinquish -- your US citizenship but...
Employer Credit for Family And Medical Leave
Thanks to the passage of the Tax Cuts and Jobs Act last year, there's a new tax benefit for employers: the employer credit for paid family and medical leave. As the name implies, employers may claim the credit based on wages paid to qualifying employees while they are...
Be Prepared When Natural Disasters Strike
While September and October are prime time for Atlantic hurricanes, natural disasters of any kind can strike at any time. As such, it's a good idea for taxpayers to think about - and plan ahead for - what they can do to be prepared. Here are four tips to help...
File 2018 Tax Returns By Oct. 15 Extension Deadline
Time is running short for taxpayers who requested an extra six months to file their 2018 tax return. As a reminder, Tuesday, October 15, 2019, is the extension deadline for most taxpayers. For taxpayers who have not yet filed, here are a few tips to keep in mind about...
Tax Advantages Of S-Corporations
As a small business owner, figuring out which form of business structure to use when you started was one of the most important decisions you had to make; however, it's always a good idea to periodically revisit that decision as your business grows. For example, as a...
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