2021 Q3 Tax Deadlines

The 2021 Q3 Tax Deadlines are approaching. Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional [...]

By |2021-06-14T13:24:53-04:00June 14th, 2021|Categories: Blog, Tax|Tags: , , , , , , , , , , |Comments Off on 2021 Q3 Tax Deadlines

Extended Filing Deadline for 2020 Tax Year

Extended tax filing deadline provides relief to individual taxpayers and the IRS. The IRS has announced that the federal income tax filing deadline for individuals for the 2020 tax year is extended from April 15, 2021, until Monday, May [...]

By |2021-03-25T12:31:23-04:00March 22nd, 2021|Categories: Blog, COVID-19, Tax|Tags: , , , |Comments Off on Extended Filing Deadline for 2020 Tax Year

New IRS Form 1099-NEC And Revised 1099-MISC Are Due To Recipients Soon

There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipients by February 1, 2021. After sending the forms to recipients, taxpayers must file the forms [...]

By |2021-01-25T13:26:22-05:00January 25th, 2021|Categories: Blog, Tax|Tags: , , , , , |Comments Off on New IRS Form 1099-NEC And Revised 1099-MISC Are Due To Recipients Soon

The Tax Implications if your Business Engages in Environmental Cleanup

If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be deductible on your tax return as ordinary and necessary business expenses. Of course, you want to claim the maximum immediate income [...]

By |2019-11-18T15:39:13-05:00November 18th, 2019|Categories: Blog, Small Business Services, Tax|Tags: , , , |Comments Off on The Tax Implications if your Business Engages in Environmental Cleanup

Do You Qualify for the Home Office Deduction?

Under the Tax Cuts and Jobs Act, employees can no longer claim the home office deduction. If, however, you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the [...]

By |2019-03-11T20:45:36-04:00July 30th, 2018|Categories: Blog, Tax|Tags: , , |Comments Off on Do You Qualify for the Home Office Deduction?

How to Avoid Getting Hit with Payroll Tax Penalties

For small businesses, managing payroll can be one of the most arduous tasks. Adding to the burden earlier this year was adjusting income tax withholding based on the new tables issued by the IRS. (Those tables account for changes under [...]

By |2019-04-10T20:52:28-04:00July 9th, 2018|Categories: Blog, Tax|Tags: , , |Comments Off on How to Avoid Getting Hit with Payroll Tax Penalties

Charitable Contributions Are Over… Or Are They?

With the recent changes in the tax law, you may hear your friends saying “well, I can no longer get a tax deduction for my charitable contributions so I guess I’ll stop.” Or maybe you have been thinking the same [...]

By |2018-05-03T15:21:56-04:00May 3rd, 2018|Categories: Blog, Jerry J. Krause, Tax|Tags: , , , |Comments Off on Charitable Contributions Are Over… Or Are They?
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