Are Medical Malpractice Settlement Awards Taxable?
Receiving a cash settlement from a medical malpractice case can be a huge relief after what is usually a long and protracted process. But before you spend it, make sure…
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Everything You Need to Know About Gifting
Making generous gifts to others isn’t just about sharing your abundance with others – it’s also smart estate planning. But if you don’t follow the rules, you – or your…
An Update on the 2020 Tax Season
(UPDATE: The IRS just announced that the tax deadline will be delayed until May 15th. More on this to come.) The passage of the American Rescue Plan Act of…
What Business Owners Need to Know About 1099’s
An important aspect of tax compliance for business owners is the requirement to file a 1099 for certain payments made during the normal course of business. If you are a business owner,…
Be on the Lookout for the Latest Round of Economic Impact “Stimulus” Payments
Thanks to legislation signed into law late in 2020, the latest round of Economic Impact Payments (EIP) (also known as “stimulus payments”) started going out on December 29, with an…
Cut Your Tax Bill When You Convert Personal Expenses to Deductible Business Expenses
Owning your own business can provide opportunities to reduce taxes that you might not necessarily have as an employee, and the best place to start is to convert personal expenses…