2020 – 08/19 A strong, discernible brand is important for every business. Even a company that never undertakes a formal branding effort will, over time, establish a brand through its communications with customers and interactions with the public. For this reason, it’s a good idea to regularly take a fresh look at your brand and…
2020 – 08/19 September starts in two weeks and there’s still no guidance from U.S. Treasury Secretary Steven Mnuchin on how to implement the payroll tax holiday announced on Aug. 8. In an executive memorandum, President Trump directed that Social Security taxes be deferred from some employees’ paychecks from Sept. 1 through Dec. 31, 2020….
2020 – 08/17 On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people. These actions were taken in an effort to offer more relief due to the COVID-19 pandemic. The action only defers the taxes, which means they’ll have to be…
2020 – 08/17 The IRS has reopened the registration period for those who didn’t receive $500-per-child Economic Impact Payments (EIPs) earlier this year. Certain federal benefit recipients are urged to use the IRS’s “Non-Filers tool” from 8/15/20 through 9/30/20 to enter information on their qualifying children to receive the catch-up supplemental payments. Parents eligible to…
2020 – 08/14 The IRS is partially resuming its enforcement activities. In March, the tax agency’s Small Business/Self-Employed (SB/SE) Division announced that it was suspending some enforcement activities due to the COVID-19 crisis. In cases where a taxpayer may have been affected by a disaster, the IRS could use “soft contact” procedures to contact the…
2020 – 08/13 A disaster can strike at any time whether it strikes your home, your city or a much bigger area. That’s why the IRS is encouraging taxpayers to think ahead and prepare. This may include developing an evacuation plan, assembling kit of essential supplies and putting financial safety measures in place. Here are…
2020 – 08/13 You’ve probably heard of a scam called ransomware. The IRS describes it as an invasive software that targets “human and technical weakness to infect a potential victim’s computer, network or server.” It may be downloaded accidently by opening a link or attachment, such as an email solicitation for a fake COVID-19 charity….
2020 – 08/12 No company can afford to operate without the right accounting software. When considering whether to buy a new product or upgrade their current solutions, however, business owners often fall prey to some common mistakes. Here are five gaffes to avoid: 1. Relying on a generic solution. Some companies rush into buying an…
2020 – 08/10 In an executive order, President Trump directed that Social Security and Medicare taxes be deferred from Sept. 1 through Dec. 31, 2020. There are still many questions that are unanswered about how this will work and there may be legal challenges. At this point, the taxes are just deferred, meaning they will…
2020 – 08/10 With millions of taxpayers working from home due to COVID-19, many people may be wondering about the possibility of claiming a home office deduction on their 2020 tax returns. In a tax tip, the IRS lists several points about qualifying for the home office deduction, including the fact that employees aren’t currently…
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