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Archive for the ‘Tax Services’ Category

Friday 04/09/2021

Navigating the Alternative Minimum Tax (AMT): Updated for 2021

Alternative minimum tax (AMT) is essentially a base-level percentage an individual taxpayer or S-corporation must pay the IRS, regardless of the credits and deductions they are entitled to. Contractors need to be especially mindful of AMT, as it can have a major effect on tax liability. Long-Term Contracts and AMT When reporting regular tax calculations, […]

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Wednesday 04/07/2021

Special Tax Considerations for Self-Employed Individuals

Filing income taxes when you are self-employed can present a different set of considerations and challenges than working for an employer. Planning ahead and staying organized will help you stay on top of your tax responsibilities while you build your business. Am I Considered Self-Employed? The IRS has three different categories for self-employed individuals: Sole […]

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Monday 04/05/2021

IRS Impersonation Scam Targeting College Students

College and university students should be on alert for an IRS-impersonation scam targeting educational institutions, including anyone with a .edu email address. The phishing scam sends the recipient an email that looks like it comes from the IRS and has a subject line like “Tax Refund Payment” or “recalculation of your tax refund payment”. There […]

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Wednesday 02/10/2021

Tax Credits Available for Manufacturing Businesses: Are You Taking Advantage?

Tax planning isn’t something that just comes around at the end of each year. To ensure your company is taking advantage of all available opportunities to lower your tax responsibility, consider the following as you plan for 2021: Research and Development Tax Credit While any qualifying activity must pass the four-part test (permitted purpose, technical […]

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How a Donor Advised Fund Could Benefit Your Nonprofit

Charitable giving is appreciated at every level. Any time an individual gives, no matter the amount, it is a precious gift. Some donors may be in a position to give to a nonprofit they are passionate about. In this case, a donor advised fund (DAF) might be an effective way to maximize their gifts. Donor […]

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