Tax Articles

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What Every Taxpayer Needs to Know This Season

April 14th, 2022

The IRS is currently suffering a severe backlog in processing returns from 2021 for the 2020 tax year. As of Dec. 31, there were still more than 6 million unprocessed individual returns with notices…

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Business Travel Deductions for 2021

October 15th, 2021

This article discusses how under previous law, deductions for business meals were limited to 50% of the cost, but through the pandemic, that deduction was doubled to 100% for the time being if the…

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Tax Breaks for Helping Relatives

September 10th, 2021

It’s not uncommon for adult children or siblings to act as caregivers for family members or give them financial assistance for medical or long-term care needs. The problem is that all too often…

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Deducting Losses - Current NOL Rules Related to the CARES Act

November 12th, 2020

This article discusses how the coronavirus pandemic impacted many businesses in a negative way. Despite government funding programs such as the CARES Act and PPP Loan, many businesses are going to…

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