New income ranges for IRA eligibility in 2021
- November 4, 2020
There are cost of living adjustments that may affect a taxpayer’s pension plan and other retirement-related savings next year. Continue Reading
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Circular 230 and Publication 947 are now available in Spanish
- November 3, 2020
The IRS is making two key publications for tax professionals available in Spanish: Publication 947 and Circular No. 230. Continue Reading
Federal beneficiaries have more time to register for an Economic Impact Payment
- November 2, 2020
Federal beneficiaries who got their Economic Impact Payment but didn’t register to receive a $500 supplemental payment per qualifying child can still register for a limited time. Continue Reading
Limiting the impact of negative QBI
- November 1, 2020
Understanding the treatment of qualified business losses and the QBI netting rules will help taxpayers with multiple trades or businesses maximize their deduction. Continue Reading
Pandemic accounting: How to make the right judgments
- November 1, 2020
As fiscal 2020’s end approaches for calendar year-end entities, guidance is available on numerous challenging issues. Continue Reading
CAMICO Tip of the Month: Minimizing Human Error in Cybersecurity
- November 1, 2020
Ideas and tips for reducing the most common reason for a cybersecurity breach: human error. Continue Reading
Tax Podcast: SBA's Coming Questionnaire for Large PPP Loans
- November 1, 2020
This week's topics: IRS gives guidance to Congressional office on treatment of taxes paid on real estate cooperative; guidance issued for W-2s to be issued for employers who deferred employee FICA at the end of 2020; SBA announces a questionnaire will be sent to large PPP loan borrowers regarding need for the loan. Continue Reading
3 approaches to boosting your online presence
- October 30, 2020
Three ways for CPA firms to launch a website and newsletter. Continue Reading
Guidance on deferred employee payroll tax issued
- October 30, 2020
The IRS posted guidance on Thursday about how to report the deferral of withholding, depositing, and paying of certain payroll tax obligations; the IRS has also updated Form 941, Employer’s Quarterly Federal Tax Return. Continue Reading
Tax Strategy: More than the usual year-end tax planning
- October 30, 2020
As 2020 comes to an end, 6 things for tax professionals to consider, including COVID relief, SECURE Act, QIP, disaster relief, tax extenders, and future tax law changes. Continue Reading