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IRA account value down? It might be a good time for a Roth conversion

IRA account value down? It might be a good time for a Roth conversion The coronavirus (COVID-19) pandemic has caused the value of some retirement accounts to decrease because of the stock market downturn. But if you have a traditional…

Hiring independent contractors? Make sure they’re properly classified

Hiring independent contractors? Make sure they’re properly classified As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal…

The rules have changed regarding your IRAs, RMDs and estate plan

The rules have changed regarding your IRAs, RMDs and estate plan Many people’s estates typically include IRAs. Be aware that two major laws passed into law recently, the Setting Every Community Up for Retirement Enhancement (SECURE) Act and the Coronavirus Aid,…

Answers to questions you may have about Economic Impact Payments

Answers to questions you may have about Economic Impact Payments Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part…

New COVID-19 law makes favorable changes to “qualified improvement property”

New COVID-19 law makes favorable changes to “qualified improvement property” The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for many improvements to interior parts of nonresidential buildings. This is referred…

COVID-19: Expanded Federal tax filing and payment relief

COVID-19: Expanded Federal tax filing and payment relief The Treasury Department and IRS announced that Notice 2020-23 (PDF) extends additional key tax deadlines. The extensions generally now apply to all taxpayers that have a filing or payment deadline falling on…

Cash payments and tax relief for individuals in new law

Cash payments and tax relief for individuals in new law A new law signed by President Trump on March 27 provides a variety of tax and financial relief measures to help Americans during the coronavirus (COVID-19) pandemic. This article explains…

The new COVID-19 law provides businesses with more relief

The new COVID-19 law provides businesses with more relief On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid,…