Here Are Your Articles for Tuesday, August 16, 2022
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  • The Final Responsibility: Being an Executor

    It's one of the most important tasks you can carry out for a friend or family member: carry out their last wishes after they're gone. But you don't have to do it alone. Click through for a review of what you need to do as an executor.

    Saved on 07-13-2022 - Remove
  • How to Avoid the Top Estate Planning Errors

    Estate planning can get very complicated, and by the time you realize you've made a mistake, it's usually too late to correct it. Click through for the most common pitfalls, so you can make sure you avoid them.

    Saved on 07-13-2022 - Remove
  • Rethinking the Way We Communicate

    We may find that COVID-19 has accelerated the trend toward new ways to communicate and new styles of communication. Click through for insights into getting the most out of the many choices we are using now — and will continue to use going forward. 

    Saved on 07-13-2022 - Remove
  • Affordable Care Act Upheld — Again

    The popular but controversial ACA has proved victorious once more in the Supreme Court. In a 7-2 decision, the Court ruled that the plaintiffs lacked standing. Click through to find out what this means for the ACA.

    Saved on 07-13-2022 - Remove
  • Know the Basics of Medicare

    Medicare is a federal insurance program that provides health coverage for older Americans, and its provisions can get quite complicated. Click through for an introduction so you understand what you or your loved ones are entitled to.

    Saved on 07-03-2020 - Remove
  • What To Know About the Qualified Business Income Deduction

    It's a much-talked-about and misunderstood provision of the tax reform law passed in 2017, and business owners are still grappling with it. Click through to make sure you understand this beneficial but complex tax provision.

    Saved on 09-13-2020 - Remove
  • Hiring in a New Era

    Hiring in a post-pandemic world is a priority for many businesses. It is also a challenge because both the workforce and the workplace are different than they were before the pandemic. Click through to learn how to adapt to the new reality.

    Saved on 12-24-2021 - Remove
  • Market Research: The Key to Business Decisions

    In business, it is crucial to obtain good data before making major decisions. Click through for some tips on how to employ market research to better identify marketing strategies.

    Saved on 12-24-2021 - Remove
  • Digital Records and Privacy

    Your estate plan should address the management and distribution of digital assets, a situation that can quickly become complicated. Click through for an overview on how to make sure this oft-forgotten part of your legacy is protected.

    Saved on 12-24-2021 - Remove
  • Medical and Dental Expenses: What Can You Deduct?

    Yes, the tax code gives you some deductions for medical and dental expenses, but the rules can get complicated. Click through for an intro to this key deduction, to help figure out where the IRS draws the line.

    Saved on 07-13-2022 - Remove
  • EEOC Publishes Updated COVID Guidance

    Companies and workers are both confused as the economy opens up. No one is sure what the rules are. What are your rights and responsibilities? Click through for a key point summary of the latest EEOC guidance.

    Saved on 12-24-2021 - Remove
  • Credit for Other Dependents: A CTC Alternative

    The Child Tax Credit is a powerful savings tool, but it's not the only deduction available for families. The Credit for Other Dependents can also help. Click through to learn who can claim it and how it works.

    Saved on 12-24-2021 - Remove
  • Can You Challenge Your Property Taxes?

    From coast to coast, it can be one of the most contentious local issues: your property tax bill. Often, homeowners believe it's etched in stone, but you may have some recourse. Click through for some help in challenging your property tax bill.

    Saved on 07-13-2022 - Remove
  • New Tax Reporting Requirements for Payment Apps Could Affect You

    If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square or PayPal, you could be affected by new tax reporting requirements that take effect for 2022. 

    Saved on 07-13-2022 - Remove
  • Backup Withholding: Know the Story

    You may find that money you're owed is subject to substantial withholding if certain numbers aren't provided in a timely fashion. Click through to learn how to avoid this or get out of it if it's already happened.

    Saved on 06-07-2022 - Remove
  • Charitable Contribution Deduction Opportunities for Non-Itemizers

    As you review your 2020 tax information and make plans for 2021 charitable giving, keep in mind that you may benefit from a new cash charitable contribution deduction, even if you do not itemize.

    Saved on 04-15-2022 - Remove
  • Demystifying On-Call Pay

    The conditions surrounding on-call pay can be confusing, and employers often misunderstand them. It comes down to whether employees should be paid if they're required to be available while not working. Click through for an intro to the complex rules.

    Saved on 04-15-2022 - Remove
  • Social Security: Note the Key Changes for 2020

    The Social Security Administration has released new numbers for those paying Social Security and those collecting it. Click through for the new maximum taxable earnings amount as well as COLA and other key adjustments.

    Saved on 03-13-2020 - Remove
  • Bonus Calculations and FLSA Rules

    Bonuses can be a great way to reward top employees. However, businesses need to know that there are different kinds, with key distinctions managers should be well-versed in. Click through to make sure you don't violate FLSA rules.

    Saved on 09-13-2020 - Remove
  • Which Employees Are Exempt From Tax Withholding?

    Most employees are subject to tax withholding. Those exempt from withholding are in the minority -- but you should still know who they are. Click through for a list of employees who are excluded from tax withholding -- and why.

    Saved on 07-13-2022 - Remove
  • IRS Offers Identity Protection PIN

    The IRS is gradually rolling out a new identity protection program that prevents anyone who has stolen your Social Security number from using it to file a fraudulent return. Click through to learn how it works and whether you're eligible.

    Saved on 07-13-2022 - Remove
  • Special Report: Are You Offering the Right Employee Benefits?

    Special Report: Are You Offering the Right Employee Benefits?

    Saved on 07-13-2022 - Remove
  • Popular PPP Loan Program Gets Extension

    The PPP loan program, which has proved a lifesaver to many businesses during the pandemic, is getting a reprieve — eligible businesses now have until May 31 to apply. Click through for the details on the extension.

    Saved on 07-13-2022 - Remove
  • Social Security: Is It Time to Tap Into It?

    You can start taking Social Security payments as early as age 62, but you get a bigger monthly payout if you can wait. What's the optimal time? Click through to learn the basics of Social Security calculations.

    Saved on 07-13-2022 - Remove
  • State and Local Tax Considerations for Remote Employees

    Until the pandemic, no one could have envisioned how profoundly remote employment would affect the workplace. The rise of the hybrid office has led to some thorny tax questions. Click through for some thoughts on how tax rules apply in a remote or hybrid environment.

    Saved on 07-13-2022 - Remove
  • Can You Take Advantage of the Research and Development Tax Credit?

    You don’t have to wear a while lab coat to claim the federal research and development tax credit if you meet the four criteria outlined in Internal Revenue Code Section 41 and its regulations. Click through to learn why failing to explore this credit may be leaving money on the table.

    Saved on 07-14-2021 - Remove
  • IRAs to Charity: A Useful Estate Planning Technique

    The basic goal of an IRA is to give you money to live on in your retirement years. But it can complicate your estate plan if you leave IRA funds for your family to inherit. Click through to learn about the advantages of leaving your IRA to charity instead.

    Saved on 07-14-2021 - Remove
  • EEOC Releases Extensive COVID-19 Guidance

    The pandemic seems to have affected every government agency, and the EEOC is no exception. Click through for some recent guidance on how the ADA, the Rehabilitation Act, and Other EEO Laws are addressing COVID-19.

    Saved on 07-01-2020 - Remove
  • Are Your Employees Cross-Trained?

    The COVID-19 pandemic has wreaked havoc with staffing at companies of all sizes. Can you prepare for any new disasters that lead to major layoffs? Click through for some thoughts on cross-training, which can ensure all tasks are covered.

    Saved on 11-15-2021 - Remove
  • Understanding Sales Tax in the Post-Wayfair World

    If your business operates in two or more taxing jurisdictions, the Supreme Court’s decision in South Dakota v. Wayfair applies to you. Click through to learn the basics of collecting and reporting sales tax today.

    Saved on 07-14-2021 - Remove
  • Tips to Prevent Your Email from Being Hacked

    Even top-tier companies with sophisticated cybersecurity measures in place have been hacked. So what can you do to keep your private information safe? Click through for some tips on protecting your electronic information.

    Saved on 11-15-2021 - Remove
  • Intentionally Defective Irrevocable Trust: A Powerful Tax Planning Tool

    Intentionally defective irrevocable trusts (IDITs) typically are used when individuals want to transfer income-producing and highly appreciating assets out of their estate, often while taking into account valuation discounts. This article provided by our partnership with the Crowe National Tax Office contains information we think may be of interest. 

    Saved on 11-15-2021 - Remove
  • Coulter & Justus, P.C. Announces 2021 Promotions

    We are excited to recognize the following group of outstanding people who not only enjoy working together but also take great care of our clients. We are fortunate to have each of them as part of our team. Click the image to see promotions.

    Saved on 11-15-2021 - Remove
  • Legislation Provides Additional Payroll Credit and Benefits Tax Relief

    The Consolidated Appropriations Act, 2021 (CAA), enacted on Dec. 27, 2020, expands certain payroll tax credits and benefits tax relief enacted in previous COVID-19 relief legislation and adds certain new tax relief for employers and employees. This article provided by our partnership with the Crowe National Tax Office contains some updates we think may be of interest. 

    Saved on 11-15-2021 - Remove
  • General Overview of Business Deductions

    Business expenses are the cost of carrying on a trade or business, and there may be some tax breaks there. But a lot has changed in recent months, and the rules can be complicated. Click through for an overview of business tax deductions.

    Saved on 11-15-2021 - Remove
  • Investing Success: Keeping an Eye on Taxes

    Investors generally focus on long-term returns, but taxation should be part of a comprehensive investing plan as well. Click through for an overview of how to incorporate tax efficiency into your investing decisions.

    Saved on 11-15-2021 - Remove
  • What Will Retaining Talent Look Like in the Post-Pandemic Workplace?

    It will be much harder emerging from a remote work environment than it was going into it. Planning to retain top talent is the goal. Click through to read more about the future of HR.

    Saved on 11-15-2021 - Remove
  • Sick & Family Leave Tax Credits for Self-Employed Individuals

    The Families First Coronavirus Response Act provided new sick and family leave-related tax credits for taxpayers forced to take time off due to COVID-19.  The majority of the text in these laws apply to certain businesses with employees.  However, these key provisions are also available to eligible self-employed individuals in offsetting a portion of their self-employment tax due.

     

    Saved on 11-15-2021 - Remove
  • Retirement Plan Startup Costs Tax Credit

    You may be able to claim a tax credit of up to $5,000 when you set up a SEP IRA, a SIMPLE IRA or a 401(k) plan. Click through to see how the tax credit reduces the amount of taxes you owe.

    Saved on 07-13-2022 - Remove
  • Standard business mileage rate will increase for the second half of 2022

    Beginning July 1, 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the 58.5 cents-per-mile rate effective for the first six months of the year. The IRS also announced an increased standard mileage rate for medical driving and moving for members of the military.

    Saved on 07-13-2022 - Remove
  • The Next Generation of Leaders Is Quiet but Impactful: Gen X

    We hear a lot about how different generations work, but what's the real story? Can you separate facts from rumors? Click through for a quick review of Generation X and how this generation of workers might fit into your company.

    Saved on 11-15-2021 - Remove
  • Understanding Revenue Recognition

    If you enter into contracts with customers to transfer goods or services either domestically or internationally, you’ll be interested in clarifications from the Financial Accounting Standards Board. Click through for these essential financial accounting updates.

    Saved on 12-24-2021 - Remove
  • DOL Revisits Overtime Rule in Proposal

    A new rule will likely make about 1 million additional workers eligible for overtime by raising the threshold to over $35,000 from the current $23,660. Click through for the details on this proposed change.

    Saved on 12-24-2021 - Remove
  • Capital Gains and Losses: How Do They Work?

    Realized capital gains and losses occur when an asset is sold, which triggers a taxable event. Those are the basics, but the details can get confusing. Click through for an introduction into what these gains and losses can mean for you.

    Saved on 12-24-2021 - Remove
  • 8 Ways to Take Charge of Your Personal Finances

    Are you thrown into a panic with thoughts of student loans or other debt? Are you worried about your long-term finances? Click through to see how to take charge of your money and plan for a secure financial future.

    Saved on 08-14-2020 - Remove
  • A Sales-Tax Primer for Pandemic-Affected Businesses

    Many businesses have enhanced their online presence as a result of the COVID-19 pandemic. These businesses need to be aware of the many challenges associated with collecting sales tax on internet sales. Click through to learn how to transition smoothly to online sales.

    Saved on 04-16-2022 - Remove
  • What Is D&O Insurance and Who Needs It?

    The pandemic has seen a sharp rise in D&O claims. Don't get caught unaware, and learn about your options. Click through to learn more about D&O insurance, who needs it and how it can protect you.

    Saved on 04-16-2022 - Remove
  • By the Numbers: The Key Adjustments for 2021

    As the year winds down, the government changes a variety of numbers affecting tax and other financials. How do these changes affect you or the companies you manage? Click through for a review of the 2021 changes.

    Saved on 04-16-2022 - Remove
  • Do You Need Business Interruption Insurance?

    Many businesses don't even know about it, but it can be essential to your long-term plans. Are you covered if your business can't continue for a substantial period of time? Click through for the reasons to consider business interruption insurance.

    Saved on 04-16-2022 - Remove
  • Key Rules for Garnishing Lump-Sum Payments

    The DOL has clarified the types of lump-sum payments that are protected by federal garnishment laws versus those that are not. Click through for details to make sure you don't mishandle these for your employees.

    Saved on 11-16-2021 - Remove
  • Guiding Your Company to the New Normal

    Planning your company’s future in a volatile environment takes careful thinking. What are your next steps? Click through to read more about how you can approach strategic planning for the new normal.

    Saved on 03-08-2021 - Remove
  • Give Your Taxes Your Attention 365 Days a Year

    Giving your taxes your full attention just once a year isn’t the best business strategy -- especially with so many changes in the past year. Click through to learn the best ways to evaluate the impact of taxes throughout the year.

    Saved on 04-16-2022 - Remove
  • Wishing You A Wonderful Thanksgiving Holiday

    Wishing you the happiness of good friends, the joy of family and the abundance of the holiday season. Click for a special Thanksgiving greeting. .

    Saved on 04-16-2022 - Remove
  • Unemployment and Tax: Back to Normal

    The federal government typically taxes unemployment compensation, but it granted a partial break for income earned in 2020. That break has expired. Click through to learn what to expect for unemployment compensation earned in 2021.

    Saved on 07-14-2022 - Remove
  • DOL Releases New Guidance on Employee Leaves

    The pandemic has changed the way we work, and multiple laws are coming into play as everyone adjusts. Click through for a summary of the latest Department of Labor guidance regarding interpreting these laws.

    Saved on 03-08-2021 - Remove
  • Wishing You Happy Holidays and a Season Filled with Peace and Joy

    Wishing you a season of peace and joy! May you enjoy warm memories with loved ones, and may the spirit of the holiday season fill your hearts. Click through for a special greeting.

    Saved on 04-16-2022 - Remove
  • Tax Deductions: What's New?

    Tax law changes in the Tax Cuts and Jobs Act affect itemized deductions because the standard deduction was nearly doubled for most taxpayers. Click through to see if you should consider itemizing anyway.

    Saved on 04-16-2022 - Remove
  • Wishing You a Happy, Healthy and Prosperous New Year!

    May every day of the coming New Year glow with good cheer, health, happiness and prosperity for you and your loved ones. Click through for a special New Year greeting.

    Saved on 04-16-2022 - Remove
  • IRS Warnings About Payroll Scams

    Human resources and payroll departments lacking strong internal controls are vulnerable to cybercrimes. This is not just a tax-season problem. Click through for IRS warnings on HR and payroll tax scams even as the 2020 tax season is on the horizon.

    Saved on 04-16-2022 - Remove
  • The Coronavirus: Get the Latest Information

    Whether you're listening to the radio, watching TV or scrolling through websites, there is no lack of information on COVID-19. But what is really helpful? Click through for the latest authoritative government information.

    Saved on 04-16-2022 - Remove
  • Telecommuting, Coronavirus and You

    About 8 million U.S. workers telecommute full time, performing all their work out of their homes. The current pandemic is swelling those ranks, as companies and employees scramble to make work-from-home a reality. Click through to learn how to hit the ground running.

    Saved on 04-16-2022 - Remove
  • Families First Coronavirus Response Act: Leaves and More

    The president has signed the Families First Coronavirus Response Act (H.R. 6201) into law. It's the first of what are expected to be other federal actions. Click through for a quick look at the major provisions.

    Saved on 04-16-2022 - Remove
  • Coronavirus and Business Interruption Insurance

    The coronavirus pandemic has upended businesses across the board. Many of those businesses hope their business interruption insurance will help mitigate their financial losses. Click here to delve into the complex world of business insurance.

    Saved on 04-16-2022 - Remove
  • Treasury Postpones April 15th Tax Filing & Payment Deadline

    Taxpayers will be able to delay both filing and payments for 90 days without interest or penalties. Click to uncover the details regarding the new July 15th deadline.

    Saved on 04-16-2022 - Remove
  • What's the Story on the Employee Retention Credit?

    The Treasury Department and the IRS have launched the Employee Retention Credit to keep employees on the payroll. Click through to get 50% of up to $10,000 if your business has been impacted by COVID-19.

    Saved on 04-16-2022 - Remove
  • CARES Act Adds Flexibility to Net Operating Losses

    The Internal Revenue Service has issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses. Click through to take advantage of a six-month extension to file on carrybacks.

    Saved on 04-16-2022 - Remove
  • Wage-and-Hour Rules During the Pandemic

    Pandemics often cause major economic disruptions, leading many businesses to fully or partially close. Regardless of the upheaval, employers must abide by wage-and-hour laws. Click through for wage-and-hour rules to consider during pandemics.

    Saved on 04-16-2022 - Remove
  • IRS Gives Break on Flexible Spending Plans

    The IRS has issued new guidance to grant increased flexibility on 125 cafeteria plans, health flexible spending arrangements and dependent care assistance programs. Click through to learn how to take advantage of the new rules.

    Saved on 04-16-2022 - Remove
  • Dollar-Cost Averaging: Great for Crisis Investing

    Even with a plunging market, there is a silver lining for any investor who has some money to put away in a retirement account like a 401(k). Click through to learn about the power of dollar-cost averaging and how it can work for you.

    Saved on 04-16-2022 - Remove
  • Paycheck Protection Program Gets One-Month Reprieve

    The Paycheck Protection Program was slated to end on June 30, but a last-minute bill in Congress extended it until Aug. 8. Click through to find out what this means, and if any other changes are on the horizon.

    Saved on 04-16-2022 - Remove
  • How To Onboard New Hires — Virtually

    Even in a challenging economy, many companies are still hiring new employees, and they have to bring them into the company efficiently — and safely. Click through for some tips on how to bring on new employees virtually.

    Saved on 04-16-2022 - Remove
  • The Percentage-Withholding Method: How It Works

    The calculations surrounding withholding can get very complicated, and the redesigned Form W-4 added additional wrinkles. Click through for a look at the bracket vs. percentage methods, and how the math plays out.

    Saved on 12-01-2020 - Remove
  • Pandemic Leads to State Border Tax Complications

    Thanks to the pandemic, many employees are now working from home. But this may mean state tax confusion, if the residence and company are in different states. Click through for an introduction to the complexities.

    Saved on 12-01-2020 - Remove
  • Are You Ready To Retire Early?

    The economic havoc wreaked by the pandemic, including the shuttering of many businesses and the damage to many sectors, may have you wondering whether it's time to retire. Click through for a closer look at how to retire sooner rather than later.

    Saved on 12-01-2020 - Remove
  • Cybersecurity: Essential for All Transactions

    Cybersecurity is essential in all situations, but especially in high-level transactions. Have you taken the right steps to ensure security? How about your business partners? Click through for some tips on corporate cybersecurity.

    Saved on 12-01-2020 - Remove
  • Payroll Tax Liabilities: Know the Details

    A paycheck can be more complicated than it seems at first. And whether you have one employee or 1,000, you need to know how payroll taxes work. Click through for a brief review, so you can grasp the basics.

    Saved on 04-16-2022 - Remove
  • Getting a Handle on Financial Fraud

    From playing games with tax returns to fiddling with the company's books, fraud is a widespread and complicated problem. You need an expert to address fraud issues. Click through for an intro to fraud and how CPAs can help.

    Saved on 04-16-2022 - Remove
  • The State Unemployment Tax: Know the Story

    The State Unemployment Tax Act is an important and complicated law that affects virtually every employer, and there are variations from state to state. Click through for an introduction to key SUTA provisions.

    Saved on 04-16-2022 - Remove
  • Inheriting an IRA: How to Handle It

    IRAs are great tools for retirement planning, but are not necessarily well-suited for leaving money to heirs. Click through for an introduction to the complex rules and strategies surrounding an inherited IRA.

    Saved on 04-16-2022 - Remove
  • Reporting FFCRA-Qualified Leave on Form W-2

    Are you required by federal law to offer paid leave because of the coronavirus pandemic? If so, you must report the payments on the recipient's Form W-2 or in a separate statement. Click through for reporting details.

    Saved on 04-16-2022 - Remove
  • Changing Culture to Manage Future Disruptions

    Companies that are structured to be resilient and agile are more likely to succeed through disruptions such as the current pandemic — and any future disruptions. Click through to learn how to operate under an agile model.

    Saved on 04-16-2022 - Remove
  • SSA Announces COLA and Max Earnings for 2021

    The SSA has published its COLA increases for 2021 as well as a new ceiling for earnings subject to OASDI. Click through to learn the details on which numbers are changing — and which are not — and how you're affected.

    Saved on 04-16-2022 - Remove
  • Is This Your Situation: Feeling Overwhelmed with Payroll Regulations

    Although you are in business to provide a product or service, managing payroll is an essential task. Click through to learn about outsourcing this important but complex task.

    Saved on 04-16-2022 - Remove
  • The Latest Rules on Charitable Donations

    With a much larger standard deduction in play, and lower marginal tax rates, the charitable giving world has changed. Has anything else changed? Click through for the latest IRS guidance on charitable giving.

    Saved on 04-16-2022 - Remove
  • Major Changes Come to Kiddie Tax

    The SECURE Act repealed a Tax Cuts and Jobs Act change in the Kiddie Tax and is effective in 2020 and beyond. Click through for the complex details on the current and retroactive changes to this often-misunderstood tax.

    Saved on 04-16-2022 - Remove
  • Small Businesses: Remain Tax-Aware During Pandemic

    It's been a tough year so far for small businesses, and the tax situation is even more complicated than usual. There's a lot to think about as you prepare your tax documents. Click through for a quick rundown of the key issues.

    Saved on 04-16-2022 - Remove
  • Coulter & Justus Year-End Tax Planning

    This year has been unlike any other in recent memory. Front and center, the COVID-19 pandemic has touched virtually every aspect of daily living and business activity in 2020. In addition to other financial consequences, the resulting fallout is likely to have a significant impact on year-end tax planning for both individuals and small businesses.

    Saved on 04-16-2022 - Remove
  • IRS Releases Additional Guidance on PPP Loan Forgiveness

    The IRS has published a Revenue Procedure and a Revenue Ruling to try to clarify certain complex and controversial details in PPP loan forgiveness. Click through for a summary of the new IRS guidance.

    Saved on 04-16-2022 - Remove
  • Wishing You Happy Holidays and a Season Filled with Peace and Joy

    Wishing you a season of peace and joy! May you enjoy warm memories with loved ones, and may the spirit of the holiday season fill your hearts. Click through for a special greeting.

    Saved on 04-16-2022 - Remove
  • The Future of Notarization

    When it comes to signing financial and legal papers, you often have to go through the tedious process of finding a notary — and the pandemic has made that even more difficult. Click through to learn how notarization is changing.

    Saved on 04-16-2022 - Remove
  • Paid Sick and Family Leave: The Tax Rules

    More and more jurisdictions are mandating paid sick and family leave, and many companies offer it even if it's not required. But the tax rules can be complex. Click through to make sure you're in compliance when offering this popular benefit.

    Saved on 04-16-2022 - Remove
  • IRS Issues Warning on Fraudulent Unemployment Forms

    Many taxpayers are receiving Form 1099-G this year, which government agencies use to report unemployment income. But this form could be fraudulent! Click through for IRS guidance on how to protect yourself.

    Saved on 04-16-2022 - Remove
  • IRS Grants Breaks on FSAs and DCAPs

    Because of the pandemic, the IRS is offering accommodations on flexible spending accounts and dependent care assistance programs. Click through to find out how employees can take advantage of the relaxed rules.

    Saved on 04-16-2022 - Remove
  • New Leasing Standards Arrive for Private Companies

    As of January 1, 2020, all leases, including short-term leases, must be recorded on your company's balance sheet. What does the new Financial Accounting Standards Board standard mean for your business? Click through for an introduction to this complex new series of rules.

    Saved on 07-02-2020 - Remove
  • Office Space for Lease

    Coulter & Justus has a beautiful three story office building off Pellissippi Parkway in West Knoxville. We occupy the second and third floors and lease the first-floor space which will become available on November 1st. We are looking for another great tenant and would enjoy a client or friend of the firm.  Please click the photo of the building for more details on the space or contact Margie Van Doren at 865-637-4161 for more information.

    Saved on 03-18-2020 - Remove
  • Coulter & Justus Announces 2020 Promotions

    We are excited to recognize the following group of outstanding people who not only enjoy working together but also take great care of our clients. We are fortunate to have each of them as part of our team. Click the image to see promotions.

    Saved on 07-18-2020 - Remove
  • Child Tax Credit and Child & Dependent Care Credit

    The American Rescue Plan has expanded on the Child Tax Credit and the Child and Dependent Care Credit creating major tax benefits for taxpayers with dependent children.  

    Saved on 04-16-2022 - Remove
  • Up to $10,200 of Unemployment Compensation Non-Taxable for Certain Taxpayers

    Many taxpayers received unemployment compensation during 2020 due to layoffs and furloughs caused by the Coronavirus Pandemic. 

    Saved on 04-16-2022 - Remove
  • Business Deductions: A Quick Review

    Business expenses are the cost of carrying on a trade or business. Sometimes, the IRS gives you a tax break for your expenses. Click through for an introduction to the complex world of business tax deductions.

    Saved on 07-14-2022 - Remove
  • What Do You Need To Save for Tax Time?

    Tax season is winding down for this year, but it's not too early to start planning for next year! Click through to find out how to reduce difficulties by saving information and keeping it at your fingertips.

    Saved on 04-16-2022 - Remove
  • IRS to Recalculate Taxes for Unemployment Break

    Legislation passed in March gave a break to many taxpayers who received unemployment insurance payouts in 2020. Click through for IRS guidance on how to make sure you reap the benefits.

    Saved on 04-16-2022 - Remove
  • IRS Provides Additional Guidance on Food Deduction

    Earlier in 2021, legislation gave a boost to businesses by raising the 50% deduction to 100%. But what is included, or excluded, under the new rules? Click through to make sure you understand the details before claiming the deduction.

    Saved on 04-16-2022 - Remove
  • Do You Need an Economic Injury Disaster Loan?

    If your business has been affected by the pandemic, the SBA offers options. An EIDL can also help businesses, including nonprofits. Click through for an introduction to its provisions to see whether it's right for you.

    Saved on 04-16-2022 - Remove
  • What to Know About Backup Withholding

    You may be subject to backup withholding if you fail to provide a correct Taxpayer Identification Number, or TIN, or don't report interest or dividends. Click through to learn the consequences.

    Saved on 04-16-2022 - Remove
  • Planning Ahead for Tax Credits and Deductions

    Have you ever started to fill out a tax return only to realize that you don't have the paperwork you need to claim all the credits and deductions you are entitled to? Click through for a guide to the files you should be saving to make sure you get the maximum deduction.

    Saved on 04-16-2022 - Remove
  • The Child Tax Credit for 2021

    The pandemic profoundly disrupted people's incomes and livelihoods. The federal government responded by approving pandemic relief legislation, including changes to the child care tax credit. Click through for a review of what you may be entitled to.

    Saved on 04-16-2022 - Remove
  • Taxation and Economic Nexus: A Review

    It has long been a contentious and confusing issue: What effect do borders have on taxes? Click through for a review of key nexus issues to help you navigate your company's course.

    Saved on 04-16-2022 - Remove
  • Potential Tax Law Changes That May Affect You

    Recent news has focused on President Biden’s proposed budget for fiscal year 2022 and the Build Back Better Agenda.  There are numerous proposals in these plans, but we wanted to update you on the proposed changes to the capital gains tax and the estate taxes.

    Saved on 04-16-2022 - Remove
  • Simple Steps to Obtaining a Financial Planner

    Many people don't know exactly what a financial planner does, or how to find one. And that's a shame, because a good planner is helpful for those at all income levels. Click through to get started on financial planning.

    Saved on 09-10-2019 - Remove
  • Head of Household Filing: Who Is Eligible?

    When filing each year, taxpayers have to figure out what their filing status is. The head of household status is typically the most advantageous—is it right for you? Click through to find out the qualifications.

    Saved on 06-07-2022 - Remove
  • Sick and Family Leave Reporting Guidance

    As 2022 approaches, employers will have to account for leave wages paid in 2021 under various federal initiatives. Fortunately, the IRS has published guidance on how to do this, but it's complicated. Click through for an overview of reporting requirements.

    Saved on 06-07-2022 - Remove
  • Section 1031 Like-Kind Exchanges: Are They the Right Choice?

    Like-kind exchanges are tax-deferred transactions that allow one real estate asset to be swapped with another, similar asset. But the rules are complicated. Click through to make sure you handle these transactions carefully.

    Saved on 06-07-2022 - Remove
  • Coulter & Justus Honored as Best Accounting Firms to Work for

    Coulter & Justus, P.C. was recently named as one of the 2019 Accounting Today’s Best Accounting Firms to Work for. Click PHOTO to read more.

    Saved on 08-11-2021 - Remove
  • Qualities That Make Good Leaders

    Leaders can make the difference between success and failure at a company. Have you shown leadership? Have you hired good leaders? Click through to understand how a strong vision can help you lead.

    Saved on 03-23-2020 - Remove
  • 9 Steps to Develop a Business Succession Plan

    A business succession plan is a road map for the company's future. Developing this plan can be a complex process, but it doesn't have to be overwhelming. Click through for 9 steps that can help you determine your company's future.

    Saved on 03-21-2020 - Remove
  • Can You Make Direct Deposit Mandatory?

    Direct deposit makes payroll processing so much easier, and the vast majority of employees find it convenient -- which is why you may wish to require it. Click through to see whether you’re allowed to mandate direct deposit.

    Saved on 07-14-2022 - Remove
  • How To Snag Your Part of the Attention Economy

    Looking to win the battle for consumer attention? Click through to find out how to captivate customers.

    Saved on 12-25-2021 - Remove
  • What Is a Life Settlement and How Does It Work?

    A life insurance policy is considered property, and that means it can be sold. This can prove advantageous in difficult circumstances. Click through to discover what life settlements can do and what they can't do.

    Saved on 12-25-2021 - Remove
  • When To Use a QTIP Trust

    Do you want to provide for a surviving spouse yet maintain control of how your trust's assets are distributed once that spouse dies? The qualified terminable interest property trust may be the tool you need. Click through to learn what a QTIP trust lets you do.

    Saved on 12-25-2021 - Remove
  • What to Know About Incorporation and Taxation

    Are you considering incorporating or forming an LLC? What are the practical and financial implications for you and your heirs? Click through to learn the advantages of moving beyond a sole proprietorship.

    Saved on 12-25-2021 - Remove
  • Realize Tax Saving from Contributions to Charitable Organizations

    Appreciated stock can seem like a problem, particularly when the sale can trigger capital gains taxes. But you can avoid these taxes and do good at the same time. Click through for a discussion of the advantages of donating appreciated stock.

    Saved on 11-16-2021 - Remove
  • Cost Segregation: A Tax-Saving Strategy

    Cost segregation studies can be an important tax-saving tool — if you make the most out of depreciation rules. But it's a complicated process. Click through to learn about cost segregation, and how it can work for you.

    Saved on 11-16-2021 - Remove
  • IRS Issues Draft of New Form W-4

    The new Form W-4 is very different from the current one, but it isn't final yet. More changes may come before the final version is rolled out later this year. Click through for an overview of what employers and employees will likely face in the future.

    Saved on 11-16-2021 - Remove
  • IRS Extends Deadline for 2020 Form 1040

    The filing date for individual federal income tax returns has been postponed until May 17. The IRS has announced that individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest, regardless of the amount owed. 

    Saved on 11-16-2021 - Remove
  • Can You Still Deduct Meal Expenses?

    Tax reform passed at the end of 2017 made some important changes regarding the deductibility of meals. Some time-honored deductions are gone. Click through to see what's changed and what hasn't.

    Saved on 03-21-2020 - Remove
  • How You Can Use a Deferred Annuity

    It's a time-tested tool for retirement planning, but it's not for everyone. The key is knowing how a deferred annuity works, and whether it's right for you. Click through for an overview, and the inside scoop on how to choose.

    Saved on 03-27-2021 - Remove
  • Handling a 'Wrong Information' Form From the IRS

    Have you ever received a CP2000 notice? It's an alert from the IRS that data received from banks, employers or other third parties doesn't match your tax return. Click through to find out how to handle this notice.

    Saved on 03-23-2020 - Remove
  • Freelancing? Know the Tax Rules

    Many people make their living in the gig economy, getting most or all of their income from freelance assignments. Click through for an introduction to the tax provisions that apply to these independent workers.

    Saved on 01-14-2021 - Remove
  • 5 Tech Trends for the Next Decade

    The past decade saw major advances in the use of technology, and the 2020s are likely to see even more. Click through to read about leading trends that are poised to have a significant impact on businesses.

    Saved on 01-14-2021 - Remove
  • Getting Ready for Tax Time

    The more preparation you do in advance as April 15 approaches, the easier it will be when you meet with your tax preparer. Click through for a quick guide to getting organized for tax season, including some tips on what's new.

    Saved on 01-14-2021 - Remove
  • New W-4 Requirements Effective for 2020

    The IRS has issued a new version of Form  W-4 to align employee withholding with the Federal Tax Cuts & Jobs Act of 2018. 

    Saved on 01-14-2021 - Remove
  • What Is the Marriage Penalty?

    The marriage penalty refers to fact that two people may pay more in taxes as a married couple than they would have as two single filers. Does this penalty really exist? Click through for details on how the Tax Cuts and Jobs Act affects couples and taxes.

    Saved on 06-07-2022 - Remove
  • Taking Over the Finances of an Elderly Person

    Physical health isn't the only thing at risk of deteriorating as we age: Mental health may decline as well, and along with it, the ability to manage money. Click through for tips on how to manage finances to protect your elderly loved one from missteps.

    Saved on 11-16-2021 - Remove
  • Trusts: What You Need to Know

    A trust lets you distribute your assets to others, while minimizing estate, income and gift taxes. Trusts have scores of uses for a variety of families. Click through for a basic primer on this essential component of estate planning.

    Saved on 11-16-2021 - Remove
  • Socially Responsible Investing: The Wave of the Future?

    When it comes to investing, should you care about anything beyond the returns generated? Many investors believe that their money should not only grow, but do good in the world. Click through for an introduction to SRI.

    Saved on 11-16-2021 - Remove
  • Is This the Right Time to Change Your Company’s Accounting Method?

    Some companies are required to use financial accounting instead of tax accounting. The Tax Cuts and Jobs Act of 2018 changed these rules. Now more companies can choose for themselves. Click here to learn the distinctions.

    Saved on 11-16-2021 - Remove
  • What's New With the Kiddie Tax?

    So many tax provisions changed with the Tax Cuts and Jobs Act, passed at the end of 2017. The so-called kiddie tax changed as well. Click through for an examination of this complex provision and how it might affect you.

    Saved on 11-16-2021 - Remove
  • Behavioral Red Flags for Internal Fraud

    It can be difficult to identify whether there is fraud at your company. An audit can help, but other signs may reveal that something is wrong. Click through for a review of the various clues that may indicate a problem.

    Saved on 11-16-2021 - Remove
  • Understanding Pre-Tax and After-Tax 401(k) Plans

    A recent study showed that when 401(k) plans are offered, about 90 percent of all employees who have the option to contribute do so. There is, however, an important difference between pre-tax and after-tax contributions. Click through to learn about this key distinction.

    Saved on 11-16-2021 - Remove
  • IRS Clarifies Deductible Expenses

    The Internal Revenue Service has updated the rules to reflect changes resulting from the Tax Cuts and Jobs Act. Click through to zero in on changes involving deductible expenses, to make sure you're in compliance.

    Saved on 11-16-2021 - Remove
  • How Long Since You've Reviewed Your Estate Plan?

    An estate plan is not a one-time event. It's a living series of documents you must continue to address throughout your life. Click through for some guidance on what events may trigger a need for a change.

    Saved on 11-16-2021 - Remove
  • Is This Your Situation: Worried That It's Too Early for Tax Planning

    Good tax planning is a year-round activity that requires knowing your options and keeping good records. Circumstances change. Even if you have used the standard deduction for the past several years, click through to learn why that may no longer be the right option for you.

    Saved on 03-25-2020 - Remove
  • 401(k) Plans: Know the Rules

    The benefits of retirement programs, for both companies and employees, can be substantial, but the rules are complicated. You need to figure out how to help your employees while being compliant. Click through for an introduction to 401(k) plans and their rules.

    Saved on 12-26-2021 - Remove
  • Coulter & Justus Honored as Best Accounting Firms to Work For

    Coulter & Justus, P.C. was recently named as one of the 2021 Accounting Today’s Best Accounting Firms to Work For. Click PHOTO to read more.

    Saved on 12-26-2021 - Remove
  • IRS Reminds Taxpayers of Limited-Time Donation Rules

    Special rules allow limited charitable deductions even for taxpayers who don't itemize, and there are other donation changes for individuals and businesses. But these benefits run out soon! Click through to learn how to take advantage of them now.

    Saved on 07-14-2022 - Remove
  • Cybersecurity and the Importance of Data Privacy

    Ensuring that your business is in compliance with applicable laws and monitoring your data are equally important, but both tasks may be more difficult than they sound. Click through for tips on starting a sound cybersecurity program.

    Saved on 11-17-2021 - Remove
  • FLSA Mistakes To Avoid

    Most employers must adhere to the Fair Labor Standards Act. But the FLSA can be complex — and mistakes are common and costly. Click through for a quick list of common FLSA errors you should avoid.

    Saved on 01-16-2022 - Remove
  • It's Time To Check Your Withholding

    You may have been advised to check your tax withholdings at least once a year. But in 2021, considering all the pandemic-related changes, it’s a good idea to check more frequently. Click through for some IRS withholding advice to forestall any surprises at tax season.

    Saved on 01-16-2022 - Remove
  • An Overview on Tax and Education Credits

    Tax credits can help offset the costs of higher education, but the rules can get complicated. Click through to learn how education credits can work in order to make sure you're taking full advantage of government programs.

    Saved on 01-16-2022 - Remove
  • Employee Retention Credit (ERC) provides a valuable opportunity for small business owners

    Due to the significant potential benefit of this credit, we wanted to again highlight the scenarios under which your business may qualify for 2020 or 2021. 

    Saved on 01-16-2022 - Remove
  • The SCOTUS Vaccine Mandate Ruling: The Details

    Now that the Supreme Court has blocked OSHA's vaccinate-or-test rule for large employers, you may be wondering what it means for your business and what your next steps should be. Click through to find out. 

    Saved on 07-15-2022 - Remove
  • What's the Deal with Health Savings Accounts?

    You can use practical and flexible HSAs for medical deductibles, copayments — and even long-term savings. Click through to learn about these special insurance plans and how they can help you.

    Saved on 07-15-2022 - Remove
  • What to Know About Tax Prep

    In the coming weeks, taxpayers will be getting various documents needed to prepare their annual income tax returns. Click through for some tips on organizing your papers to make the process easier as we approach April 15.

    Saved on 07-15-2022 - Remove
  • Proposed regs for inherited IRAs bring unwelcome surprises

    The proposed regs cover numerous topics, but one of the most noteworthy is an unexpected interpretation of the so-called “10-year rule” for inherited IRAs and other defined contribution plans. If finalized, this interpretation — which contradicts earlier IRS guidance — could lead to larger tax bills for certain beneficiaries.

    Saved on 07-15-2022 - Remove
  • What You Don't Know About Estate Planning

    Do you know what estate planning really is? Some people think it's only for the very wealthy, or that they don't have to worry about it until they're old—but those are misconceptions! Click through for the real facts on estate planning.

    Saved on 04-19-2022 - Remove
  • IRS Clarifies Charity Benefits

    The IRS has released guidance explaining how legislation passed in December 2020 delivered several provisions to help individuals and businesses that give to charity. Click through to make sure you're taking full advantage of the current tax rules.

    Saved on 04-19-2022 - Remove
  • SSA Updates Key Numbers for 2022

    Each year, the Social Security Administration takes a fresh look at various numbers and usually makes changes. Click through for the recently announced 2022 changes, so you can make financial plans for the new year.

    Saved on 04-19-2022 - Remove
  • Taxable and Nontaxable Employee Benefits

    Offering the right employee benefits can help employers attract and retain employees. Before deciding to offer a benefit to the workforce, however, it is important to understand the difference between taxable and nontaxable benefits. Click through for an overview of how benefits are taxed.

    Saved on 04-19-2022 - Remove
  • OSHA Issues Emergency Temporary Standard on Coronavirus

    With this new rule, covered employers must develop, implement and enforce a mandatory vaccination policy, or a policy requiring a choice between vaccination or testing. Click through for an overview of the new compliance rules.

    Saved on 04-19-2022 - Remove
  • IRS Announces 2022 Limits for Retirement Plans

    The IRS has released maximum amounts for 401(k) plans and phase-out ranges for traditional IRAs. Most—but not all—numbers have gone up, and the rules can be confusing. Click through for an overview of the new numbers.

    Saved on 04-19-2022 - Remove
  • Wishing You an Abundantly Wonderful Thanksgiving Holiday

    Have a memorable Thanksgiving! Wishing you the happiness of good friends, the joy of family and the abundance of the holiday season. Click through for a special Thanksgiving greeting.

    Saved on 04-19-2022 - Remove
  • The Tax Situation When You Have Employees

    When people perform work for you, you face a whole new world of responsibilities and deadlines. The rules are detailed and complex. Click through for an introduction to tax rules for employers.

    Saved on 04-19-2022 - Remove
  • Can You Be Exempt and Nonexempt at the Same Time?

    The Fair Labor Standards Act has two categories of employees: exempt and nonexempt. But can an employee have two jobs at a company, one in each category? Click through to see how the rules would work in this situation.

    Saved on 04-19-2022 - Remove
  • Filing the Final Tax Return

    When you're a spouse or personal representative of a deceased individual’s estate, you discover that even the deceased needs to file a final tax return. Click through to find out what responsibilities you have to square things with the IRS.

    Saved on 04-19-2022 - Remove
  • Security Is Key for Shared Applications

    Taking measures to secure your personal and identifiable information has always been important. It is even more important now that many companies that share applications with their employees are all operating remotely. Click through for tips on how to protect your personal information. 

    Saved on 04-19-2022 - Remove
  • 3 Ways To Show Emotional Intelligence

    Emotional intelligence is more important than ever in this era of rapid change and remote working. Have you given thought to how you can improve yourself? Click through for tips on how you can strengthen your work relationships.

    Saved on 04-19-2022 - Remove
  • What Retirement Plans Must Report

    Once you offer retirement plans, you'll have reporting and disclosure requirements — reports and forms that the IRS and the Department of Labor want to receive. Click through to see how your obligations depend on the type of plan.

    Saved on 07-15-2022 - Remove
  • Employers Get Tax Breaks for Vaccination Leave

    Washington wants everyone to get a COVID-19 shot, so it is giving a refundable tax credit to employers who grant paid time-off to staff to receive—or recover from—a vaccination. Click through for eligibility rules.

    Saved on 07-15-2022 - Remove
  • DOL Withdraws Independent Contractor Rule

    In January 2021, the Department of Labor issued a rule clarifying the standard for employees versus independent contractors under the Fair Labor Standards Act. It has now withdrawn the rule. Click through for a review of what this means.

    Saved on 07-15-2022 - Remove
  • What to Know About the Restaurant Revitalization Fund

    The American Rescue Plan Act established the Restaurant Revitalization Fund to provide funding to help pandemic-affected restaurants. Click through to see if your business is eligible, and how to take advantage.

    Saved on 07-15-2022 - Remove
  • IRS Adjusts HSA Limits for 2022

    The government has announced inflation-adjusted changes for health savings accounts. The new limits are a small increase over 2021. Click through for the details to remain in compliance next year.

    Saved on 07-15-2022 - Remove
  • When Is It Time To Refinance a Home?

    You can refinance a home to save money or make it easier to pay your monthly bills. But it can be tricky to figure out when a refi makes sense. Click through for details that will help you make the right financing decision.

    Saved on 03-04-2022 - Remove
  • What Exactly Is a "Tax Year"?

    Tax years are based on annual accounting periods in which you keep records and report income and expenses. A tax year may not be a calendar year. Click through to discover the myriad annual accounting periods you may or may not adopt.

    Saved on 03-04-2022 - Remove
  • What's the Tax Deal on IRAs?

    IRAs are tax-favored personal savings accounts that set aside money for retirement. Most people have heard of them, but not everyone knows the tax details. Click through to make sure you understand how the tax advantages work.

    Saved on 03-04-2022 - Remove
  • When Should You Take Your Company Public?

    Is the lure of taking your company public becoming irresistible? Maybe it's time, but there's a lot to think about first. Click through to read an introduction to this complex and risky step so you know what you're getting into.

    Saved on 03-04-2022 - Remove
  • Payroll Tax Rates and Contribution Limits for 2022

    The payroll tax rates and contribution limits for 2022 have been released, and there are lots of changes. Click through to see exactly what is changing so you can make plans for the coming months.

    Saved on 07-16-2022 - Remove
  • Coulter & Justus Announces Promotions

    We are excited to recognize the following group of outstanding people who not only enjoy working together but also take great care of our clients. We are fortunate to have each of them as part of our team. Click the image to see our 2021 promotions.

    Saved on 06-09-2022 - Remove
  • Should You Introduce Profit-Sharing — and How?

    Profit-sharing is a group incentive plan for employees to share in profits. Click through to change your culture from "Let’s get it done" to "We’re all in this together."

    Saved on 10-07-2021 - Remove
  • How to Manage Inventory

    Whether you sell gardening supplies or computer components, inventory can be a nightmare, especially in this era of disruptions related to COVID-19. Click through for some tips to manage your inventory in a productive way.

    Saved on 06-09-2022 - Remove
  • Tax Breaks for Older Couples Who Sell Their Homes

    Homes often appreciate, especially when you've been living in them a long time. This is good but can create tax problems. Click through for tips on the tax situations impacting homes, to make sure you manage your home sale situation correctly.

    Saved on 06-10-2022 - Remove
  • What It Means To Die Intestate

    Are you settling an estate for someone who didn't leave a will? This can lead to problems, but they're not insurmountable. Click through to become familiar with intestate succession laws that control who inherits property if no will exists.

    Saved on 04-29-2022 - Remove
  • What Is FATCA?

    The Foreign Account Tax Compliance Act requires that U.S. individuals who hold foreign financial assets must report those assets to the IRS. Click through for an overview of your responsibilities under FATCA rules.

    Saved on 04-29-2022 - Remove
  • Special Tax Rules for Rehiring Staff

    In these rapidly changing times, you may want to rehire, at least on a temporary basis, staff who have formally retired. But does that change their pension status? Click through to learn how to follow the complex tax rules in this situation.

    Saved on 04-29-2022 - Remove
  • Tax Changes to Think About in 2022

    A lot has changed since provisions of the Tax Cuts and Jobs Act expired Dec. 31, 2021, rather than being extended. Plus, the proposed Build Back Better Act is on the horizon. Click through for some insight into the 2022 tax landscape.

    Saved on 06-14-2022 - Remove
  • Can You Claim the Credit for Other Dependents?

    If you don't qualify for the child tax credit, you may be able to claim the credit for other dependents. Click through for an introduction to this often forgotten tax break, to see whether you're eligible to claim it on your tax return.

    Saved on 07-22-2022 - Remove
  • January Tax Due Date Is Approaching

    Businesses have to adhere to a strict tax schedule, and January 31 is a red-letter date. A variety of filings are due. Click through for an overview of your business tax responsibilities as the year draws to a close.

    Saved on 06-15-2022 - Remove
  • How to Cater to Consumer Privacy Concerns

    As users continue to become more and more concerned about their privacy and the protection of their personal information on the internet, many companies have been forced to make changes to how they use data as well as how they go about informing users about how their data is used. Click through to learn more about handling privacy issues and catering to consumer privacy concerns in regard to your company.

    Saved on 06-16-2022 - Remove
  • Deducting Business Expenses: Separating Fact From Myth

    Few business tax issues are as confusing or as subject to misunderstanding as what you can deduct. Mistakes can lead to wasted money and serious legal trouble. Click through for an introduction to what is and what is not deductible.

    Saved on 06-21-2022 - Remove
  • Cybersecurity and Remote Work: 6 Steps To Protect Your Business

    In 2020, the FBI reported 1.4 million cybercrime complaints, mostly identity theft, up from 651,000 in 2019. The cost to victims is estimated at $5.9 billion. Click here to read about six low-cost steps to take to protect your business.

    Saved on 06-23-2022 - Remove
  • Congress eyes further retirement savings enhancements

    The U.S. House of Representatives passed the Securing a Strong Retirement Act by a 414-5 vote. Also known as SECURE 2.0, the bill contains numerous provisions that — if enacted — would affect both individuals and employers. 

    Saved on 06-18-2022 - Remove
  • Voluntary Correction Programs for Benefit Plans

    If your employee benefit plan is not compliant with regulations, you could face audits and penalties. Click through to learn about voluntary correction programs that can help you avoid or minimize the consequences of noncompliance.

    Saved on 06-20-2022 - Remove
  • Can You Use a Business Coach?

    As you master new skills and solve problems that arise, your confidence will grow. If you are thinking about hiring a business coach, click through to see if hiring a business coach can help as you overcome weaknesses, learn new skills, and expand beyond your comfort zone.

    Saved on 06-20-2022 - Remove
  • What Is Dollar-Cost Averaging?

    Dollar-cost averaging is a simple system that can yield big results. It lowers what you pay overall for investments, all while minimizing your risks. Click through to learn why buying securities at regular intervals, regardless of price, can lead to big wins.

    Saved on 06-20-2022 - Remove
  • How To Preplan for a Nursing Home

    We can't know what life will throw at us, but we can make some what-if plans. Click through to contemplate what may happen if you reach a point someday when you can no longer take care of yourself.

    Saved on 06-20-2022 - Remove
  • Should You Add Your Children to Your Deed and Bank Accounts?

    It would seem that an easy way to avoid probate and enable your children to assist you as you age is to add them to your bank accounts and home's deed. But that technique can be perilous. Click through to find out why other methods are usually better.

    Saved on 06-20-2022 - Remove
  • New & Noteworthy

    What are the latest development in the personal finance, tax and business worlds? Click through for links to current reports from leading news sources. 

    Saved on 06-20-2022 - Remove
  • After tax day: Take these action steps

    The April tax filing deadline has passed, but that doesn’t mean you should push your taxes out of your mind until next year. Here are three tax-related actions that you should consider taking in the near term (if you filed on time and didn’t file for an extension).

    Saved on 06-05-2022 - Remove
  • Tax Items To Check as the Year Winds Up

    The fourth quarter is a good time to take stock of your tax situation and ask yourself the important questions: Do you need any adjustments to your withholding? What 2021 changes will affect you when you prepare your taxes? Click through for an end-of-year tax review.

    Saved on 06-05-2022 - Remove
  • Wishing You Happy Holidays and a Season Filled with Peace and Joy

    Wishing you a season of peace and joy! May you enjoy warm memories with loved ones, and may the spirit of the holiday season fill your hearts. 

    Saved on 06-05-2022 - Remove
  • Build Back Better Act Awaits Senate Vote

    The U.S. House of Representatives passed a crucial part of President Biden’s agenda by a vote of 220-213 on November 19. The Build Back Better Act (BBBA) includes numerous provisions related to areas ranging from health care, climate change and immigration to education, social programs and, of course, taxes.

    Saved on 06-05-2022 - Remove
  • What Papers Do You Need To Save?

    Are you cleaning out old filing cabinets or your attic? You no doubt are coming across reams of old financial papers. Do you need to keep them? Click through for some guidelines on what to save.

    Saved on 06-05-2022 - Remove
  • IRS Announces Mileage Rates for 2022

    Each year, the government announces the mileage rates taxpayers can use when applying for reimbursement. Click through for the new rates and for information on when you can legally take the deductions. 

    Saved on 06-05-2022 - Remove
  • IRS Presents Filing Tips for 2022

    It's been a busy few months on the tax front, and as the filing date draws closer, the IRS is giving some filing advice. Click through for a summary to help you prepare for your financial reckoning on April 15.

    Saved on 06-05-2022 - Remove
  • Credits vs. Deductions: What's the Difference?

    Many people think that tax deductions and credits are the same, but they're not. Tax deductions reduce your taxable income, but tax credits reduce your tax bill dollar for dollar. Click through to find out what that means and when it matters.

    Saved on 06-05-2022 - Remove
  • Insurers Must Now Cover COVID-19 Tests

    The Biden-Harris administration is requiring insurers to cover the cost of over-the-counter, at-home COVID-19 tests. Click through to see how those with private health coverage can now get free tests.

    Saved on 06-05-2022 - Remove
  • 2022 Tax Calendar

    To help you make sure you don’t miss any important 2022 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them.

    Saved on 06-05-2022 - Remove
  • IRS Updates Recovery Rebate Credit FAQ

    Questions about the complex Recovery Rebate Credit? The IRS has revised its FAQ list. It's an impressive 35 pages. Click through for an overview of some key points and a link to the complete document.

    Saved on 06-05-2022 - Remove
  • IRS Faces Challenges for Tax Filing Season

    A statement from Chuck Rettig, Commissioner of the Internal Revenue Service, concerning the challenges of this tax filing season. Today, millions of people are still waiting for prior years’ returns to be processed, and refund checks to arrive in the mail, while preparing for their upcoming tax filing.

    Saved on 06-05-2022 - Remove
  • What's the Story on DOL Posters for Remote Workers?

    Employers generally have to publicly display certain key labor rules. But what are their responsibilities when most, or all, of the employees work remotely? Click through to make sure you're still in compliance as the work world changes.

    Saved on 06-05-2022 - Remove
  • Biden Issues Executive Order on Cryptocurrencies

    On March 9, 2022, President Biden signed an executive order (EO) entitled “Ensuring Responsible Development of Digital Assets.” Click through to learn more about what the executive order on cryptocurrencies means and what it says about how the government views cryptocurrencies.

    Saved on 06-05-2022 - Remove
  • Trusts: Good for a Variety of Families

    Contrary to popular belief, you don't need to be a Silicon Valley billionaire to create a trust. How do you know if a trust is the right tool for you? Click through to see why a trust can be a useful estate-planning tool for lots of people.

    Saved on 06-05-2022 - Remove
  • For Retro ERC, Use Form 941-X

    Legislation enacted in December 2020 made changes to the employee retention tax credits previously made available, such as extending the Employee Retention Credit (ERC). Click through to make sure you're getting full benefits, on time.

    Saved on 07-12-2022 - Remove
  • How Do S Corporations Work?

    Particularly for certain smaller businesses, the S corporation can be a much more beneficial entity than the traditional C corporations, but there are strict rules. Click through for an introduction to the advantages and drawbacks.

    Saved on 07-12-2022 - Remove
  • Do You Need Umbrella Insurance?

    Do you need extra liability protection? Those who have extra risks may need additional insurance. Fortunately, it's easily available and not very expensive. Click through to find out whether an umbrella policy is right for you.

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  • Cutting Costs During Inflationary Times

    Coming on the heels of the disruptions caused by the COVID-19 pandemic, the current inflationary cycle feels even more severe than it is. Click through for some practical cost-cutting suggestions. 

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Coulter & Justus, P.C.
Coulter & Justus, PC
(865) 637-4161
9717 Cogdill Rd, Suite 201
Knoxville, TN 37932
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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