On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (H.R. 133), which includes providing the second COVID-19-related relief to help individuals and businesses through the pandemic.
The impact of the COVID-19 pandemic continues to reverberate across the nation. Many businesses have been forced to make changes to operations, product/service offerings, vendors, financing, and capital investments.
On November 18, 2020, the IRS announced new requirements in the way businesses would report non-employee compensation.
On the 12th day of Taxmas, my accountant gave to me an annual reminder to review beneficiary designations for retirement accounts, annuities, and life insurance contracts.
On the 11th Day of Taxmas, my accountant gave to me some general tax planning tips.
On the 10th Day of Taxmas, my accountant gave to me a review of my company structure.
Earlier today, Congress approved The Emergency Coronavirus Relief Act, which provides $900B in long-awaited economic stimulus and relief to both businesses and individuals.
On the ninth day of Taxmas, my accountant gave to me a tax credit for some of the ordinary and necessary costs of starting a SEP, SIMPLE IRA, or qualified plan.
On the eighth day of Taxmas, my accountant gave to me an annual Gift Tax exclusion of $15,000.
On the seventh day of Taxmas, my accountant gave to me a Cost Segregation Study.
