Starting with the 2020 tax year, business taxpayers must report nonemployee compensation of more than $600 on new Form 1099-NEC instead of Form 1099-MISC.
Congress Passes & President Signs New COVID Relief Bill
The nearly 6,000-page Bill passed with overwhelming bipartisan support and was signed by the President.
Time Running Out on Special Charitable Giving Provisions
The holiday season always brings out the charitable inclinations in people, and this year will be no different. We may even see an increase in charitable giving due to provisions …
Are Health Savings Accounts (HSA) the Ultimate Health Care Insurance Plan?
The Health Savings Account (HSA) has been around for more than 15 years, yet it remains one of the best-kept secrets as a tax savings and medical expense reduction tool. …
529 Plan Reimbursements for Off-Campus Living
With college campuses opting for online classes during the COVID-19 outbreak, many students have been taking classes from home, and all indications are this will continue at least through the …
Deferred Payroll Tax: What You Should Know
With no movement on negotiations for a second COVID-19 relief bill from lawmakers on Capitol Hill, President Trump signed an executive order and several memorandums addressing the expiration of the …
