In the wake of the COVID-19 pandemic, amidst the layoffs and furloughs, many individuals have turned to withdrawing funds from their 401(k). Temporary changes to the rules under the CARES Act may give you more flexibility to make an emergency…
Come tax time most of us think that by hiring a professional to prepare our tax return that we will save the most amount of taxes. However, there is a way to save even more — through tax planning. A…
Many taxpayers feel that ever familiar feeling of dread come tax time knowing that they will be hit with a high tax bill. Instead of resting easy that you or your business has had a good year and your salary…
The Paycheck Protection Program PPP is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The PPP is intended to provide American small businesses with eight weeks of cash-flow assistance to cover payroll and other costs through forgivable,…
The extended 2019 tax filing and payment deadline is coming up on July 15. The postponement from the standard April 15 deadline was intended to provide temporary tax relief due to the COVID-19 pandemic. Taxpayers and businesses who had 2019…
Did you give a gift during the tax year and are you unsure if it is taxable? We get “gift” related tax questions all the time. As it turns out, some gifts are taxable and some are not. Now, let’s…
Today (3/27/2020) President Donald Trump signed the $2 trillion package in an effort to fight and get the upper hand on the Coronavirus (COVID-19) pandemic. This legislative package is designed to send financial relief to U.S. businesses and workers that…
With tax season in full swing and many changes to already complicated tax law for 2019 tax returns in effect, it is important to be aware of commonly overlooked tax deductions and credits that you may be missing. From college…
Navigating through the many intricacies of international tax laws can be confusing and complicated. Common questions often arise, from when to file taxes overseas to how to apply for a Taxpayer Identification Number. CPA Accounting & Tax Services specializes in…
Tax season is in full swing with the Internal Revenue Service (IRS) processing tax returns since January 27, 2020. This year, there are 7 important filing season changes for 2019 tax returns that you should be aware of. The experts…