Unlocking Value – Quality of Earnings Reports

Progressive Thinking Webinar Series Unlocking Value – Quality of Earnings Reports Strategic Considerations for Business Owners and Entrepreneurs Register for this event to understand the most significant financial tool for evaluating proposed transactions or financings – Quality of Earnings (QoE) Reports. This is a great opportunity for business owners, CFOs, controllers, or other similar financial…

Preparing for a Successful Retirement

Preparing for a Successful Retirement As you approach retirement, it’s vital that you pay attention to several important financial matters to ensure a smooth transition. Here are five of them: 1. Health Insurance Are you among the lucky few who will continue to be covered after retirement? If not, then you’ll need to replace your…

The Home Office Deduction

The Home Office Deduction With more people working from home than ever before, taxpayers may be wondering if they can claim a home office deduction when they file their 2020 tax return next year. The short answer is that self-employed taxpayers who use their home for business may be able to deduct expenses for the…

Employee Payroll Tax Deferral Guidance

Employee Payroll Tax Deferral Guidance On August 8, 2020, President Trump signed an executive order allowing employers to defer the withholding and payment of the employee share of Social Security taxes from September 1 through December 31, 2020. As the executive order left many unanswered questions, the IRS later released a notice on August 28,…

Tax Scams: 2020 Edition

Compiled and issued annually every year by the IRS, this year it includes many aggressive and evolving schemes related to coronavirus tax relief, including Economic Impact Payments. The criminals behind these bogus schemes view everyone as potentially easy prey and everyone should be on guard, especially vulnerable populations such as the elderly. While tax-related scams…

Tax Breaks for Teachers and Educators

While many schools are switching to hybrid or remote learning models, teachers and other educators should remember that they can still deduct certain unreimbursed expenses such as classroom supplies, training, and travel. Deducting these expenses helps reduce the amount of tax owed when filing a tax return. To qualify for the deduction, the taxpayer must…