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Refundable Payroll Tax Credits Program and Relief Loans for Small and Midsize Businesses

The U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor announced that small and midsize employers could begin to take advantage of two new refundable payroll tax credits, provided under the Families First Coronavirus Response Act signed on March 18, 2020, and effective April 1, 2020. These credits will reimburse businesses […]

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Important Tax Update – COVID-19

On Tuesday, March 17, 2020, the United States Department of Treasury and the Internal Revenue Service announced that they will be providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. It is important to note that the filing deadline for tax returns remains April 15, 2020 and has not been […]

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Dollar bill gift box in red with "gift tax return" heading

The 2019 gift tax return deadline is coming up

If you made large monetary gifts to your children, grandchildren, or other heirs, it is important that you determine whether you are required to file a 2019 gift tax return. Who must file? Generally, you must file a gift tax return for 2019 if, during the tax year, you made gifts: That exceeded the $15,000-per-recipient […]

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2 major tax law changes for individuals in 2019

While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under the act for 2019. Here’s a closer look. 1. Medical expense deduction threshold With rising health care costs, claiming whatever tax breaks related to health […]

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Act soon to save 2018 taxes on your investments

Do you have investments outside of tax-advantaged retirement plans? If so, you might still have time to shrink your 2018 tax bill by selling some investments ― you just need to carefully select which investments you sell. Try balancing gains and losses If you’ve sold investments at a gain this year, consider selling some losing […]

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