Coronavirus (COVID-19): Tax relief for small businesses

March 26th, 2020|Comments Off on Coronavirus (COVID-19): Tax relief for small businesses

  Businesses across the country are being affected by the coronavirus (COVID-19). Fortunately, Congress recently passed a law that provides at least some relief. In a separate development, the IRS has issued guidance allowing taxpayers [...]

Individuals get coronavirus (COVID-19) tax and other relief

March 26th, 2020|Comments Off on Individuals get coronavirus (COVID-19) tax and other relief

  Taxpayers now have more time to file their tax returns and pay any tax owed because of the coronavirus (COVID-19) pandemic. The Treasury Department and IRS announced that the federal income tax filing due [...]

Why you should keep life insurance out of your estate

March 19th, 2020|Comments Off on Why you should keep life insurance out of your estate

  If you have a life insurance policy, you probably want to make sure that the life insurance benefits your family will receive after your death won’t be included in your estate. That way, the [...]

Determine a reasonable salary for a corporate business owner

March 11th, 2020|Comments Off on Determine a reasonable salary for a corporate business owner

  If you’re the owner of an incorporated business, you probably know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason is simple. [...]

The 2019 gift tax return deadline is coming up

March 11th, 2020|Comments Off on The 2019 gift tax return deadline is coming up

  If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2019 gift tax return. And in some cases, even if [...]