Reduce Your Risk of Internet Theft From Online Shopping

We all know what an unusual year this has been.  And as a result of the lockdowns and government recommendations to stay at home, online shopping has thrived this year.  Online shopping and curbside pickups for items such as groceries, meals from restaurants, clothing...

IRS Expands Use of Taxpayer IP PINs

Beginning in January 2021 the IRS plans to offer an Identity Protection PIN (IP PIN) Opt-in program to include all taxpayers.  Prior to 2021, IP PINs were only assigned to taxpayers when their tax return was rejected from e-filing as a result of their social security...

HHS Began Distributing Phase-3 Provider Relief Funds Last Week

On December 16th, many of our clients started to see their HHS PRF Phase-3 Subsidy pop up in their practice bank accounts. If you applied for this Phase-3 Subsidy but did not receive any funds yet, please contact HHS soon. According to one of my clients: “I called...

Ten Tips To Cut Your 2020 Taxes

Even during a Pandemic, it’s still prudent to take steps to minimize your tax bill. Plus, this year we are faced with the prospect of higher tax rates starting in 2021. As the year winds down, now is the time to take steps cut your 2020 tax bill while also not...

Schedule C individuals – Review Your Business Bottom Line

For Schedule C individuals (sole proprietors and single member LLC’s), the days between Thanksgiving and Christmas are the perfect time of year to review your business’s “bottom line” for the year. If you find your net income significantly ahead or behind compared to...

Two Charitable Donation Updates for 2020

For 2020 there is a new $300 charity deduction that will benefit taxpayers who claim the standard deduction. Typically, charitable donations are allowed as a tax deduction only to taxpayers who itemize their tax deductions on their tax return and not allowed to...