SUPPLY CHAINS AND TAX PROFESSIONALS

Supply chains and tax professionals. Now that the Covid pandemic is at a stage where most agree its not going anyway, many disruptions in the economy have happened and will continue to happen. One has to do with the supply chain. With so many companies involved in the supply chain, and its importance to the […]

TARIFFS TAXES AND SOLAR PANELS

Tariffs taxes and solar panels. Could the tariffs on solar panels threaten Biden’s climate change goals ? A Department of Commerce investigation as to whether China is circumventing tariffs on its solar energy products is slowing the expansion of solar power capacity in the U.S., according to industry and outside experts. “In the blink of […]

BIDENS RETIREMENT PLAN CHANGES

Bidens retirement plan changes. Presidential candidate and former Vice President Joe Biden recently proposed a key change to the employer-sponsored 401(k) plan that could help lower  earners save for retirement. But this proposed change also would likely reduce the financial benefit of a traditional 401(k) for high earners, say experts, possibly encouraging more to take […]

TIME SENSITIVE ACTS IN NOTICE 2020-23

Time sensitive acts in notice 2020-23. In response to the Covid-19 outbreak, the Treasury and IRS initially provided individuals and businesses limited filing and payment relief in Notices 2020-17 and 2020-18. This relief generally applied only to federal income tax returns and payments (including self employed tax payments) due April 15, 2020, for 2019 tax […]

COMMON TAX MISTAKES TO AVOID

Common tax mistakes to avoid. Small errors lead to expensive tax bills. Tax software–of the old fashioned paper forms and calculations–won’t help much when the numbers that human beings use in the first place are flawed. Finding and entering tax information often isn’t always easy. “That part of the process requires reading comprehension and critical […]

TAX PROBLEMS LENDING TO FAMILY

Tax problems lending to family. Many people are happy to lend money to their loved ones, especially to children and grandchildren. But before stroking the check, review the tax rules. The tax consequences vary greatly depending on the terms of the loan. A small change in the terms of the loan can men big differences […]

TRADE WAR MAY CAUSE RECESSION

Trade war may cause recession. If a recession is coming, what should we do ? Not what President Trump and his economists are thinking about. While there is no certainty that a recession is in the offing, a number of Wall Street economists see warning signs–especially an inverted yield curve for bonds, which means that […]

TAX REFORM HAS A GIMMICK

Tax reform has a gimmick. The long awaited tax reform our nation has been told to anticipate, has a gimmick.  Tax Reform is one thing, a tax reform gimmick is another.  When you hear the Republicans discuss this bill, all you hear is that the middle class will get a tax cut. What is in […]