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September 2020
The tax rules for deducting the computer software costs of your business
Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others?
Why it’s important to plan for income taxes as part of your estate plan
As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax.
Why face-to-face meetings with your auditor are important
Remote audit procedures can help streamline the audit process and protect the parties from health risks during the COVID-19 crisis.
Business website costs: How to handle them for tax purposes
The business use of websites is widespread. But surprisingly, the IRS hasn’t yet issued formal guidance on when Internet website costs can be deducted.
Can investors who manage their own portfolios deduct related expenses?
In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible?
How to report COVID-19-related debt restructuring
Today, many banks are working with struggling borrowers on loan modifications.
When should you pay nonprofit board members?
Most for-profit companies compensate the directors who serve on their boards. But not-for-profit board members generally serve on a voluntary basis.
Weighing the risks vs. rewards of a mezzanine loan
To say that most small to midsize businesses have at least considered taking out a loan this year would probably be an understatement.
Tax implications of working from home and collecting unemployment
COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations.
2020 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020.
On-time financial reporting is key in times of crisis
Many companies are struggling as a result of shutdowns and restructurings during the COVID-19 crisis.
Prioritize customer service now more than ever
You’d be hard-pressed to find a business that doesn’t value its customers, but tough times put many things into perspective.
What to do when the audit ends
Financial audits conducted by outside experts are among the most effective tools for revealing risks in not-for-profits.
Homebuyers: Can you deduct seller-paid points?
Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports that existing home sales and prices are up nationwide, compared with last year.
Employers have questions and concerns about deferring employees’ Social Security taxes
The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll
Reporting discontinued operations today
Marketplace changes during the COVID-19 crisis have caused many companies to make major strategic shifts in their operations — and some changes are expected to be perm
ESOPs offer businesses a variety of potential benefits
Wouldn’t it be great if your employees worked as if they owned the company? An employee stock ownership plan (ESOP) could make this a reality.
Private foundations need strong conflict-of-interest policies
Does your private foundation have a detailed conflict-of-interest policy?
