Tax
How to Turn a Summer Job into a Tax-Free Retirement Nest Egg and More
‘Tis the season for summer jobs for high school and college kids. These seasonal jobs are more than just an opportunity for teens and college students to earn some money…
Read MoreImportant Changes to the Child Tax Credit
[Notice: The information in this blogpost is in reference to the 2021 tax year only.] UPDATE 8/11/21: The IRS recently posted “Common questions about the advance child tax credit payments.…
Read MoreUBIT NOL Carrybacks Under the CARES Act
By: Daniel Eissmann, CPA, Staff Accountant Several changes have taken place in the past few years in regards to Unrelated Business Income (UBI) Net Operating Loss (NOL) Carrybacks. In addition,…
Read MoreReal Estate Opportunities in 2021
Real estate has had a banner year as mortgage rates continue to be low, more people are looking to buy than those who are selling and home prices continue to…
Read MoreThe Biggest Winners and Losers in President Biden’s Proposed Individual Tax Plan
President Biden presented his $1.8 trillion American Families Plan, which focuses on expanding benefits for education, children and childcare. The Biden administration intends to pay for the plan with a…
Read MoreTangible Property Regulations Guidance
By: Luci M. Roseman, CPA, Manager To Expense or Capitalize? That is a question that continues to elude taxpayers. Historically, the general rule has always been that tangible property with…
Read MoreTax Implications of Rental Property
By: Jason Shuman, Staff Accountant One of the more common questions we get asked leading up to and during tax season is about the reporting of rental properties. At first…
Read MoreUnderstanding the R&D Tax Credit
By: Mitchell Byerly, CPA, Senior Accountant The research and development (R&D) credit is a great incentive to spur innovation and improvements that benefit us all. Let’s take a closer look.…
Read MoreGeneral Information About IRS Form 990
By: Alfredo T. Muniz, Staff Accountant What is the 990? IRS Form 990 is a document that most federally tax-exempt organizations, including charitable nonprofit organizations or foundations, file each year…
Read MoreTax Day for Individuals Extended to May 17
(March 18, 2021) The IRS announced late yesterday that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15,…
Read More