Year: 2021

YEAR-END TAX & FINANCIAL PLANNING (NOVEMBER 14, 2021)

Greetings, As we approach year-end, I’d like to pass along this enclosed letter summarizing some of the key tax and financial considerations for this year.  Like most everything else in 2021, year-end tax planning won’t be status quo due to the uncertainties of a continued global pandemic and complicated and ever-changing tax laws.  We’ll also […]

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LAST-MINUTE YEAR END GENERAL BUSINESS INCOME TAX DEDUCTIONS (NOVEMBER 6, 2021)

November 6, 2021 Re:  LAST-MINUTE YEAR END GENERAL BUSINESS INCOME TAX DEDUCTIONS Dear Clients and Friends: The purpose of this tax article is to get the IRS to owe you money. Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but

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NEW CORONAVIRUS STIMULUS SIGNED INTO LAW, INCLUDES TAX BREAKS FOR INDIVIDUALS (March 12, 2021)

Dear Clients and Friends, President Biden has signed into law the new economic relief package.  This $1.9 trillion American Rescue Plan (ARP) provides a wide-array of tax-related benefits for individuals.  Here is a look at the final version of the key tax provisions: Recovery rebates (Cash “stimulus payments”) The new maximum payment is $1,400 per

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IRS FORM 1099-NEC – NEW FORM!! – FILING DEADLINE JAN 31 (January 8, 2021)

If you’ve paid independent contractors in 2020, you’ll need to complete the new form 1099-NEC instead of a 1099-MISC. Businesses need to use this form if they made compensation payments totaling $600 or more to a nonemployee (independent contractor) during 2020.  Form 1099-NEC’s are due to the nonemployee and IRS by Jan 31 (just like

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