by angieduran | Oct 19, 2020 | Uncategorized
In response to the COVID-19 pandemic, federal agencies have extended certain claims and appeals periods for employee pension benefits plans subject to the Employee Retirement Income Security Act (ERISA). The relief also applies to qualifying group health plans, as...
by angieduran | Oct 14, 2020 | Uncategorized
IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and planning, you should fare well. In fiscal year 2019, the IRS audited approximately...
by angieduran | Oct 12, 2020 | Uncategorized
Many employees have suffered financial hardships because of the COVID-19 pandemic. In response, some employers may consider offering financial assistance as a fringe benefit. A common question that arises regarding such an idea is: Does the Internal Revenue Code allow...
by angieduran | Sep 30, 2020 | Uncategorized
Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others? Then you should be aware of the complex rules that apply to determine the tax treatment of the expenses of buying,...
by angieduran | Sep 28, 2020 | Uncategorized
In August, a federal trial court invalidated several provisions of the U.S. Department of Labor’s (DOL’s) temporary regulations that implemented the paid leave provisions of the Families First Coronavirus Response Act (FFCRA). By way of a response, the DOL’s Wage and...
by angieduran | Sep 22, 2020 | Uncategorized
Whether it’s something you have been doing for years or something you just started to make extra money, you must report income earned from hobbies in 2020 on next year’s tax return. What the difference between a hobby and a business? A business operates to...
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