Monthly Bulletins

Have you been working from home during the COVID-19 crisis? Join the club. Approximately 42% of the American workforce is currently working from home full-time, according to a recent study by the Stanford Institute for Economic Policy Research. Only 26% […]

When a business is owned by more than one person, it's generally advisable for the owners to enter into a contractual agreement that prescribes what will happen if an owner dies, becomes disabled, retires or otherwise leaves the company. Some […]

Are you subject to backup withholding on payments you receive? The IRS requires the payer of certain non-payroll amounts to withhold 24% backup tax, under specific conditions. Generally, the payers just report amounts they paid on information returns such as […]

Like so many things this year, the recommended practices for your annual end-of-the-year tax planning reflect the COVID-19 pandemic and its far-flung effects. The economic impact, as well as federal relief packages like the CARES Act, may render some tried-and-true […]

Do your children or grandchildren receive unearned income from investments? Federal tax law contains provisions that are designed to prevent high-net-worth individuals from shifting investment income to children and young adults in lower tax brackets to minimize the family's overall […]

Nonqualified Roth IRA withdrawals can occur for two reasons: The account owner isn't yet 59½ and isn't dead or disabled, or The account owner fails the five-year test. If you made several conversion contributions, you must use the first-in-first-out (FIFO) […]

If you're experiencing financial distress during the COVID-19 crisis, you might be thinking about tapping into your Roth IRA to improve your cash situation. But before withdrawing money from a Roth account, it's important to understand the federal income tax […]

Despite having good intentions, many people fail to make an estate plan. But if you don't develop a plan featuring a will, your assets could end up being distributed according to state law. And the lack of an estate plan […]

How did the federal government do in sending out Economic Impact Payments (EIPs)? Two reports detail the results. EIPs were sent to eligible individuals to help mitigate the financial effects of the pandemic. Sending the payments to some people has […]

With the presidential election only weeks away, many people are beginning to pay closer attention to each candidate’s positions on such issues as the COVID-19 pandemic, health care, the environment and taxes. Among their many differences, President Donald Trump and […]

Business Vehicle Purchases: What Is Deductible for 2020? Purchases of new and used business vehicles may qualify for tax breaks under current tax law. If you need a new vehicle to use for business purposes, review these details before you […]

The IRS has issued guidance on the payroll tax deferral scheduled to begin on September 1. Here’s what it says.