Robert, Here Are Your Articles for Monday, November 23, 2020
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Saved Articles

  • Our Client and Employee COVID Procedures

    During this time, we want to update you on what we are doing to lessen the risk for our employees and especially you, our clients. Beyond the health and safety of our employees, we are working to ensure our customers have reliable access to our staff and our services. Our goal is to minimize risk. Click the image for the steps we are currently taking:

    Saved on 08-16-2020 - Remove
  • Working at Home — the New Reality

    Both businesses and workers have been ambivalent about telecommuting, but the pandemic may have forced everyone's hands. Click through for some insights into why, for many businesses, working from home may be the new normal.

    Saved on 08-16-2020 - Remove
  • Congress Loosens PPP Loan Restrictions

    Although the Payroll Protection Program is popular, businesses had been complaining that some rules made the program difficult to use. Click through to learn about recent legislative changes that have made the PPP more flexible.

    Saved on 08-16-2020 - Remove
  • Depreciation: How Does It Work?

    Depreciation is a tax deduction allowing the recovery of asset costs. You can get a tax break from depreciation, but the rules are complicated. Click through for an introduction to the tax and accounting strategies surrounding it.

    Saved on 08-16-2020 - Remove
  • Leave Rules on Caring for a Spouse, Child or Parent

    Employee leave comes in many forms, including family leave to care for a sick spouse, child or parent. With the pandemic, the need for family leave is more urgent than ever. Click through for a discussion of the rules.

    Saved on 08-16-2020 - 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 08-16-2020 - 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 08-16-2020 - Remove
  • Budgeting Tips for Managers

    It may not be the most entertaining part of your job, but it's often one of the most essential: budgeting. Is there a way to make it less painful? Click through for some tips on managing your department's budgeting responsibly.

    Saved on 08-16-2020 - Remove
  • What Small Businesses Need To Know About Tax

    Many common tax problems vexing small-business owners involve underpayment of taxes and poor record-keeping. Click through for an introduction to some basic rules, so you can make life easier for yourself.

    Saved on 08-16-2020 - Remove
  • Gig Economy and Taxes

    The so-called gig economy may be the wave of the future for a substantial number of workers. There are lots of implications—especially regarding taxes. Click through for an introduction to how the IRS handles gig workers.

    Saved on 08-16-2020 - Remove
  • PPP Loans: We Answer Your Questions

    The Paycheck Protection Program, part of the CARES Act, is in full swing, but there are still a lot of questions about this powerful, but confusing, program. Click through for the latest info to see if and how your business can benefit.

    Saved on 08-16-2020 - Remove
  • How to Leave Your Worldly Goods

    Where will you leave your assets when you're gone? Sometimes it seems obvious, but you still have a lot of choices. Click through for some thoughts on who your beneficiaries should be and why you need to consider your choices carefully.

    Saved on 08-16-2020 - Remove
  • How To Deal With Stress During Quarantine

    There is no lack of stressors today! We're worried about our health, our jobs, our retirement accounts, our children and our communities. Click through for some thoughts on what you're going through and how to take care of yourself.

    Saved on 07-03-2020 - Remove
  • Pandemic Puts the CIO Upfront

    Companies trying to find new ways to operate in the COVID-19 pandemic have been forced to rely ever more heavily on their chief information officers. And that won't change even after the initial crisis passes.

    Saved on 08-16-2020 - 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 08-21-2020 - 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 08-21-2020 - Remove
  • When Identity Theft Hits Your Taxes

    Tax-related identity theft occurs when someone uses your stolen personal information to claim a fraudulent refund. It's an especially virulent kind of identity theft. Click through to understand how it happens and what you can do.

    Saved on 08-22-2020 - Remove
  • How Workers Can Return

    Some jobs cannot be done from home on a long-term basis, so businesses may gradually bring employees back to offices. Click through for tips on how best to do this to protect everyone's well-being as the pandemic subsides.

    Saved on 10-08-2020 - Remove
  • Telecommuting as a Reasonable Accommodation

    COVID-19 has brought both telecommuting and reasonable accommodation to the fore, raising issues that likely will continue long after the pandemic has passed. Click through for insight into policy and regulation.

    Saved on 08-26-2020 - Remove
  • The Major Tax Changes: An Overview

    The recently approved tax bill contains massive changes, and financial professionals will be poring over the details for months. For now, everyone should know at least the basics. Click through for an overview of the changes.

    Saved on 08-27-2020 - 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 08-28-2020 - Remove
  • Tax Credits on Their Way Out

    A number of tax credits and incentives are set to expire at the end of 2020 — although it is possible some may be extended. Click through for a list of those that, at least for now, are set to expire in the near future.

    Saved on 08-29-2020 - 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 09-20-2020 - 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 09-20-2020 - 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 09-20-2020 - Remove
  • Q&A: Can I Ask Employees Why They Need a Leave?

    An employee—perhaps one who has been working fine so far—suddenly requests a leave. Click through to see what questions you can ask.

    Saved on 09-20-2020 - Remove
  • Payroll Tax Holiday and Unemployment Boost Are in Flux

    There's a lot of information flying around about where we are with additional pandemic relief, but only minimal official guidance. Click through for a summary of where we are and what may happen in the future.

    Saved on 09-20-2020 - Remove
  • Q&A: Do OSHA’s Regulations Apply to the Home Office?

    OHSA generally has no authority over the home. Click through for the full details, however.

    Saved on 09-20-2020 - Remove
  • Tax Scams: The Pandemic Edition

    With all the things that are changing in 2020, there is one constant you can count on: Tax scams are still with us. Click through to learn what to watch out for as scammers find ways to incorporate the pandemic into their schemes.

    Saved on 09-21-2020 - Remove
  • IRS Updates Form 941 To Reflect COVID-19 Tax Credits

    Are you required to offer paid leave for COVID-19 reasons? Were you forced to suspend your business operations, or did sales drop sharply? If so, you may claim tax credits on IRS Form 941. Click through to make sure you don't miss out.

    Saved on 09-21-2020 - Remove
  • Pass-Through Entities and the 20 Percent Tax Break

    Much talk has been made of the new 20 percent tax deduction for pass-through entities but, as with most tax laws, it can get very complicated very quickly. Click through to learn more, and find out if you're entitled to the break!

    Saved on 09-21-2020 - Remove
  • IRS Announces Inflation-Adjusted HSA Numbers for 2021

    The IRS is making modest inflation-adjusted changes to Health Savings Accounts for calendar year 2021. Click through for the full details on the changes, and a brief review of HSA provisions.

    Saved on 11-04-2020 - Remove
  • IRS Issues Final Regs on Meals and Entertainment

    The 2017 TCJA changed the rules for M&E deductions, but years later many subtleties have continued to cause confusion. Fortunately, recent IRS guidance may answer a lot of questions. Click through for an overview of the final regulations.

    Saved on 11-08-2020 - Remove
  • Pensions and Taxes: Know the Score

    The traditional defined-benefit pension plan may not be as common as it was, but some individuals still have one, and they need to know the tax situation. Click through for an introduction to the complex world of pensions and taxes.

    Saved on 11-08-2020 - Remove
  • A Quick Introduction to Trusts

    In these difficult times, families should think about how a trust could help them. They are more affordable than many realize, and they have scores of uses for a variety of situations. Click through for a basic primer on how trusts may be able to help you.

    Saved on 11-08-2020 - Remove
  • Is This Your Situation: You're Worried About Retirement Tax Issues

    You get your tax returns done year after year, but do you step back and think about how taxes fit in with your retirement plans? Click through to learn how to improve your financial health by doing some major tax planning.

    Saved on 11-08-2020 - Remove
  • What Is FATCA and How Does It Affect You?

    A powerful and controversial financial law, FATCA is designed to help the U.S. government track down tax evaders throughout the world. What does it mean to you? Click through for an introduction to FATCA.

    Saved on 11-08-2020 - Remove
  • What Small Businesses Need To Know About Tax

    Many common tax problems vexing small-business owners involve underpayment of taxes and poor record-keeping. Click through for an introduction to some basic rules, so you can make life easier for yourself.

    Saved on 11-13-2020 - Remove
  • The SECURE Act and Other Last-Minute Tax Changes

    The year finished up with a bang as Congress enacted a number of changes that affect the retirement landscape and other tax situations. Click through for a summary of these changes and how they could affect you.

    Saved on 11-13-2020 - Remove
  • IRS Updates Mileage Rates for 2020

    As 2019 drew to a close, the IRS issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for various purposes. Click through to see how the new rates may affect you.

    Saved on 11-13-2020 - Remove
  • Effective Communication in Difficult Times

    More than ever, in a rapidly changing business environment where telework is the new norm, effective communication is a skill every leader should have. Click through for three strategies to enhance communication at work.

    Saved on 11-17-2020 - Remove
  • Final Rule: Employers Can Truncate SSNs on Employees' Form W-2

    The federal government has taken many steps to combat identity theft. One of those measures is a recent final rule allowing employers to mask Social Security numbers on Form W-2. Click through to find out what this means.

    Saved on 11-17-2020 - Remove
  • Capital Gains and Schedule D

    When you sell a capital asset, the sale results in either a capital gain or capital loss. The government wants a full accounting, and the rules are complicated. Click through to learn what you have to report on Schedule D of Form 1040.

    Saved on 11-17-2020 - Remove
  • Restructuring Debt as a Business Strategy

    The Covid-19 pandemic — like earlier business crises — has forced many businesses to make hard choices regarding their future. Click through to learn about restructuring debt and whether that's an option you should consider.

    Saved on 11-28-2020 - Remove
  • A Business Bankruptcy: Helpful but Complex

    Starting and running a business is hard, and there's no guarantee of long-term success. Sometimes, a bankruptcy is the only exit plan. Click through for an introduction to the key rules of business bankruptcy.

    Saved on 11-22-2020 - 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 11-23-2020 - 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 11-23-2020 - Remove
  • Capital Gains and Schedule D

    When you sell a capital asset, the sale results in either a capital gain or capital loss. The government wants a full accounting, and the rules are complicated. Click through to learn what you have to report on Schedule D of Form 1040.

    Saved on 11-23-2020 - Remove
  • Final Rule: Employers Can Truncate SSNs on Employees' Form W-2

    The federal government has taken many steps to combat identity theft. One of those measures is a recent final rule allowing employers to mask Social Security numbers on Form W-2. Click through to find out what this means.

    Saved on 11-23-2020 - Remove
Flowers Rieger & Associates, PLLC
Flowers Rieger & Associates, PLLC
www.flowersrieger.com
6125 E. Grant Road
Tucson, AZ 85712
(520) 327-8706
michael@flowersrieger.com
tim@flowersrieger.com
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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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