April 2020
IRA Account Value Down? It Might Be A Good Time For A Roth Conversion
The coronavirus (COVID-19) pandemic has caused the value of some retirement accounts to decrease because of the stock market downturn. But if you have a traditional IRA, this downturn may provide a valuable opportunity: It [...]
Hiring Independent Contractors? Make Sure They’re Properly Classified
As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal tax purposes. If [...]
IRS Extends Some (But Not All) Employee Benefit Plan Deadlines
The IRS recently issued Notice 2020-23, expanding on previously issued guidance extending certain tax filing and payment deadlines in response to the novel coronavirus (COVID-19) crisis. This guidance applies to specified filing obligations and other [...]
California Tax Updates for April 22
Post 1: The California Franchise Tax Board (FTB) has posted frequently asked questions (FAQs), related to tax relief due to the novel coronavirus (COVID-19). The list addresses topics such as: information returns, extensions to file; [...]
Answers To Questions You May Have About Economic Impact Payments
Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part of the Coronavirus Aid, Relief, [...]
New COVID-19 Law Makes Favorable Changes To “Qualified Improvement Property”
The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for many improvements to interior parts of nonresidential buildings. This is referred to as qualified improvement property [...]