by PTF | Feb 19, 2021 | Individuals, Tax Preparation
Charitable Contributions Deduction Liberalized for 2021 Article Highlights: Charitable Contributions for Non-Itemizers Penalties for Contribution Overstatement Cash Contributions for Itemizers Substantiation Requirements As a means to stimulate charitable...
by PTF | Feb 15, 2021 | Tax Preparation, Individuals
IRS Offers New Identity Protection for Taxpayers Article Highlights: IP PIN Identity Verification Opt-in Program Application Process In the past, the IRS has assigned verification numbers to victims of identity theft to file their tax returns, if requested by the...
by PTF | Feb 10, 2021 | Resource, Business Services, Individuals, Tax Preparation
How Biden’s Rescue Plan Might Impact Your Taxes Article Highlights: Economic Impact Payments Unemployment Compensation Minimum Wage Education Assistance Families First Coronavirus Response Act Child Care Tax Credit Child Tax Credit Earned Income Tax Credit Healthcare...
by PTF | Feb 8, 2021 | Articles, Individuals, Resource, Tax Preparation
Article Highlights: Estate Tax Estate Tax Exemption Fair Market Value at Date of Death Step up in Basis Community Property Deferred Untaxed Income Are inheritances taxable? This is a frequently misunderstood taxation issue, and the answer can be complicated. When...
by PTF | Feb 5, 2021 | Resource, Business Services, Individuals
February 2021 Individual Due Dates February 1 – Tax Appointment If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you. February 1 – File 2020 Individual Return to Avoid...
by PTF | Feb 1, 2021 | Articles, Individuals
Article Highlights: Airbnb, VRBO, and HomeAway Rented for Fewer than 15 Days During the Year The 7-day and 30-day Rules Exceptions to the 30-Day Rule Schedule C Reporting Many taxpayers rent out their first or second homes without considering tax consequences. Some of...
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