Employers: Don’t Miss Out on the Work Opportunity Credit
The WOTC is typically worth up to $2,400 for each eligible employee, but it can be worth up to $9,600 for certain veterans and up to $9,000 for “long-term family assistance recipients.”
The Changing College Landscape
The 2020-2021 academic year is right around the corner, and the coronavirus pandemic has upended the college world, like everything else.
You Should Be Keeping Home Improvement Records
There are certain situations when having home improvement records could save taxes.
Charity Volunteer Tax Breaks
If you volunteered your time for a charity or governmental entity during the COVID-19 pandemic, some deductions are permitted for out-of-pocket costs incurred while performing the services.
4 Steps to Establish Your Financial Safety Net
When a financial emergency arises, do you find yourself scrounging for pennies? Consider setting up an emergency reserve. Learn more in this week’s Financial Tip.
Beware of These 3 Types of Coronavirus-Related Fraud
The IRS and other government agencies have noted a rise in scams and other fraudulent activities surrounding the COVID-19 crisis.
Big Tax Breaks for Hiring Your Children in the Family Business
With jobs at a premium during the COVID-19 pandemic, you might consider hiring your children to help with your business. Financially, it makes more sense to keep family employed rather than hiring strangers, provided, of course, your family member is suitable for the job. Note, however, that wages paid to children and other relatives aren’t…
IRS Outlines Changes to Health-Care Spending Rules Under CARES Act
The IRS provided COVID-19 guidance for health Flexible Spending Arrangements and section 125 cafeteria plans related to high-deductible health plans through Notice 2020-29.
What Led to Congress Extending the Paycheck Protection Program?
With billions left to be distributed in Payment Protection Program money—why did Congress have to extend the PPP in the first place?
The Shape of Economic Recovery
Most economists believe that GDP will turn upward in the third quarter, but it will take sustained growth to return the economy to its pre-recession level.