Tax

Running a business from home? Get home office tax deductions

During the COVID-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might be able to claim tax deductions for home office expenses against your business income. There are two methods for claiming this tax break: the actual expenses method and […]

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What are the tax implications of buying or selling a business?

Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 as the country comes out of the pandemic. If you are considering buying or selling another business, it’s important to understand the tax implications. Two ways to arrange a deal Under current tax law, […]

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IRS still experiencing delays

The IRS  has millions of individual 2019 tax returns in the processing pipeline. They recently made some changes on their website, regarding the processing of these IRS delays. For refunds that could not be issued in 2020 because the tax return is being corrected, reviewed or awaiting correspondence from a taxpayer The refund will be […]

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