What Are the Tax Implications of Working Remotely?
Many Americans have now shifted to a remote work environment. What does the change mean for your taxes?
Entries by David Auer
What Is the IRS Taxpayer Relief Initiative?
Millions of Americans still owe billions to the IRS in back taxes, interest, and penalties, but the Taxpayer Relief Initiative offers some assistance.
How Do PPP Loans Impact Business Taxes?
The Paycheck Protection Program (PPP) was first introduced under the CARES Act, and the latest relief bill clarified specific tax implications.
What Tax Provisions Expired in 2020?
Many tax provisions introduced in the CARES Act were set to expire at the end of 2020. Which lapsed and which were extended?
What the Special $300 Charitable Deduction Means for 2020 Taxes
The CARES Act includes a special provision that allows taxpayers to deduct up to $300 in charitable contributions. Learn more about who and what qualifies.
Drive Down Your Taxes with These Vehicle Deductions
Car and truck expenses can be confusing on your tax return. What are considered eligible expenses? And what are the current limits and mileage rates? Key takeaways: An individual who owns a business or is self-employed can deduct vehicle expenses Automobile costs based on mileage or actual expenses are eligible Mileage rates have changed between […]
COVID-19 and the Home Office Deduction
Roughly a third of Americans are still working from home because of the pandemic, and many mistakenly believe they qualify for the home office deduction. Here’s everything you need to know if you work remotely. Since the beginning of the COVID-19 pandemic, around a third of Americans have transitioned to working from home. This means […]
Beware the “Dirty Dozen:” Common Tax Scams to Avoid
In 2020, the IRS released a “Dirty Dozen” of prevalent tax scams. Here’s what to watch out for! The IRS regularly compiles a list of the “Dirty Dozen,” or the 12 most common scams that target taxpayers. This list is always changing and evolving, and some risks have been heightened because of the COVID-19 pandemic. […]
Is There a “Right” Tax-Advantaged Retirement Plan?
There’s no one perfect way to approach retirement that is the best for everyone. Choosing the right plan for you starts with understanding your options and the tax implications of each one. There are several different approaches you can take to your retirement savings strategy. Each avenue has its own set of tax implications and […]
How to Make the Most of Medical Benefits on Taxes
It’s always wise to optimize the tax efficiency of medical benefits. But it’s even more crucial during a pandemic. Here’s how to keep your returns as healthy as possible. The year 2020 may mean that more people have high medical expenses, with millions of Americans having tested positive for the coronavirus. On top of those […]