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If you own shares of stock that have increased in value, one way to avoid a taxable gain is to gift them to another. Although it’s simple in concept, gifting stock does have some tax consequences to consider. Value of Read more…

Are you still waiting for your Economic Impact Payment? Did you get your payment but it was for the wrong amount? The IRS initially said you needed to wait until filing your 2020 tax return to resolve these sorts of Read more…

What is normally a reliable estimate of your taxes – the amount of money withheld from your paychecks by your employer – may be an unreliable estimate this year thanks to the current pandemic. Even worse, using the safety net Read more…

More than 70% of small businesses in America now have loan proceeds from the Paycheck Protection Program (PPP) to help retain employees during the current pandemic. The entire amount of a PPP loan is eligible to be forgiven if the Read more…

Tax rules change every year, but 2020 has seen more changes than most. There have been a lot of new laws and programs aimed at pandemic relief that you may have heard of, but there have also been some less Read more…

Small business owners, self-employed workers, and freelancers received some welcome news when Congress recently passed the Paycheck Protection Flexibility Act. This new law clarifies how businesses can qualify to have all or a portion of its Paycheck Protection Program (PPP) Read more…

Millions of Americans already received their economic impact payment. If you haven’t received yours, or if your economic impact payment was for an incorrect ammount, you might need to take action so that you can receive yours. Below are some Read more…

A lot of people may be surprised, for different reasons, to find that they owe an estimated tax payment to the federal government this month. Those who usually file estimated tax payments may be surprised to learn that the estimated Read more…

The IRS has issued a warning to the public to be on the lookout for a surge of calls and e-mail phishing attempts related to the coronavirus pandemic and the one-time economic impact payment. The IRS says that scammers may Read more…

Several new laws provide economic relief to individuals and businesses hardest hit by this year’s pandemic. This much-needed financial assistance, however, comes with a few strings attached. Here are three potential surprises you should be prepared for if you use Read more…