by PTF | Jan 10, 2021 | Individuals, Planning Services
IRA Withdrawal Planning Can Save on Taxes Article Highlights: Early Distributions Distributions After Age 59½ Minimum Required Distributions After Age 72 Excess Accumulation Penalty Estate Tax Issues Advance planning can, in many cases, minimize or even avoid taxes on...
by PTF | Jan 9, 2021 | Business Services, Planning Services, Resource, Tax Preparation
Increased Business Meal Deductions for 2021 and 2022 Article Highlights: Business Meals Under TCJA 100% Deduction for 2021 and 2022 Qualifications If you recall, the Tax Cuts and Jobs Act (TCJA), effective beginning in 2018, eliminated the business-related deduction...
by PTF | Jan 8, 2021 | Business Services, Individuals, Resource, Tax Preparation
2021 Standard Mileage Rates Announced Highlights: Standard Mileage Rates for 2021 Business, Charitable, Medical and Moving Rates Important Considerations for 2021 Switching between the Actual Expense and Standard Mileage Rate Methods Employer Reimbursements Employee...
by PTF | Jan 8, 2021 | Articles, Business Services, Planning Services, Resource
Article Highlights: Business Entity Selection Start-Up Cost Elections Organizational Expenses Equipment Depreciation & Expensing Opportunities Vehicle Luxury Auto Rules Leasehold Improvement Expense Options In spite of COVID-19 restrictions many entrepreneurs are...
by PTF | Jan 7, 2021 | News, Resource
Finally, the COVID Relief Package Is Law Article Highlights Additional 2020 Recovery Rebates Paycheck Protection Program (PPP) Loans & Small Business Support Clarification of Tax Treatment of Covered Loan Forgiveness Expenses Business Meals Educator Expense...
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