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Filing a Farm Tax Return

Farms include plantations, ranches, ranges and orchards and farmers may raise livestock, poultry or fish, or grow fruits or vegetables. If you're in the farming business or are thinking about it, here are ten things you should know about farm income and expenses. 1....

Employee Retention Credit Deadline

As a reminder, employers whose business has been financially impacted by COVID-19 can take advantage of the Employee Retention Credit, a refundable tax credit designed to encourage businesses to keep employees on their payroll. The credit is worth 50 percent of up to...

Q & A: Returning an Economic Impact Payment

According to the Treasury Department, more than 159 million individuals have already received their Economic Impact Payments; however, a recent audit found that the IRS sent $1.4 billion in stimulus checks to deceased individuals. As such, many people may have...

Here’s How to Pay if you Owe Money to the IRS

With the federal tax deadline just weeks away, taxpayers who owe money (including those who may owe estimated and other business taxes) should know about these six options for quick and easy electronic payments: Taxpayers who owe a 2019 income tax liability, as well...

Deadline for Reporting Foreign Income

If you live or work outside the United States, you generally must file and pay your tax in the same way as people living in the U.S. This includes people with dual citizenship. Due to the coronavirus pandemic, people who live and work abroad have until Wednesday, July...

Small Business Financing: Securing a Loan

At some point, most small business owners will visit a bank or other lending institution to borrow money. Understanding what your bank wants, and how to properly approach them, can mean the difference between getting a loan for expansion or scrambling to find cash...

Paying Off Debt the Smart Way

With a potential economic downturn in the wings due to COVID-19, being debt-free is a worthwhile goal. Unfortunately, between mortgages, car loans, credit cards, and student loans, for most people - especially those of pre-retirement age - this is unrealistic....

Best of Southern Utah: 2020 Gold Winner

HintonBurdick CPAs and Advisors wins gold in Best of Southern Utah competition! To learn more, click the following link, https://www.bestofsouthernutah.com/listings/accounting-firm/ Here at HintonBurdick, we are always developing our processes, our people, and the way...

Flexibility for Taxpayer Elections in Cafeteria Plans

Temporary changes to Section 125 cafeteria plans due to the coronavirus pandemic allow flexibility for taxpayers participating in cafeteria plans. These changes include extending the claims period for health flexible spending arrangements (FSAs) and dependent care...

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