How the New Tax Law, CARES, Impacts Individuals

IRS and Congress have given individuals a number of ways to build up their cash reserves and/or pay less in taxes. Here are a few opportunities for taxpayers. Stimulus checks from the IRS Many of you received stimulus checks in the last month as a result of

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Inherited IRAs and the SECURE Act of 2019

At the end of 2019, the SECURE Act (Setting Every Community Up for Retirement Enhancement Act) was signed into law, modifying RMD (required minimum distribution) rules for inherited IRAs and retirement accounts. Under the SECURE Act, inherited IRAs and retirement accounts must be distributed and taxed within

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Scams, Fraud, and Hackers in the Time of Coronavirus

With an alarming increase in scams, cybercrimes, and other fraud schemes, we all need to be extra diligent in our actions to protect our businesses, our computers, our children, and ourselves.  Here are some things we need to watch out for and how to stay safe. Virtual

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Building Resilience into Your Small Business

If you currently own or manage a small business, you’ve probably experienced an extremely high demand or you’re preparing for the worst – to be shuttered by law for a few weeks or longer. In either case, your business needs a whopping dose of resilience right now.

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Why Getting a Tax Refund Is Not Necessarily Good

Everyone loves getting a tax refund, right?  Not us! We’ll explain why; but first let’s cover some basics about filing deadlines and refund timing. Preparing, Filing and Acceptance of Returns There are several steps your tax professional goes through with your return. Here is a very rough,

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Six Tips to Grow Your Business in 2020

Looking for fresh, effective ways to grow your business in 2020? You’ve come to the right place. In today’s market, it can be difficult to stand out from the crowd, gain new customers or clients, and increase your company’s revenue. Note: We said difficult, not impossible! Below,

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The Augusta Rule: How to Receive Tax-Free Income

What is the Augusta Rule? The Augusta Rule, known to the IRS as Section 280A, allows homeowners to rent out their home for up to 14 days per year without needing to report the rental income on their individual tax return. Originally created to protect residents of

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Accounting Tasks at Year-End

You might wonder why there are so many extra tasks at year-end. While the government requires much of the work, there is clean-up work and adjustments that need to be done to make the books accurate. It’s not always cost-effective to perform all of these updates monthly,

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