Dennis, Here Are Your Articles for Wednesday, April 07, 2021
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Saved Articles

  • 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 12-03-2020 - Remove
  • Welcome to Dennis & Associates Newsletter

    Welcome to our firm's newsletter! We plan to give you helpful information every two weeks. Click through to learn all about the valuable free information we'll be sending.

    Saved on 12-03-2020 - Remove
  • Touchless Payments: A Result of the COVID-19 Pandemic

    Touchless payments have been around for a while, but the pandemic may give them a boost, as businesses and consumers both want to avoid physical contact. Click through to learn about how they work, and their advantages.

    Saved on 12-03-2020 - Remove
  • A New Normal in an Uncertain World

    Strategizing for an uncertain future is not easy. But businesses that take a closer look at their response to the pandemic can learn how to do just that. Click through to learn about strategic planning in today's environment, which also can help you in the future.

    Saved on 12-03-2020 - Remove
  • Is This Your Situation: Concerned About Strategic Tax Planning and Itemizing

    The changes made by the Tax Cuts and Jobs Act of 2017 make itemizing deductions out of reach for most taxpayers. With good tax planning, however, taxpayers still may be able to itemize. Click through to learn about alternate-year itemizing and other strategies.

    Saved on 12-03-2020 - Remove
  • What Are the Rules on Hazard Pay?

    Since the arrival of COVID-19, whether employees should receive hazard pay has been much discussed. Are there rules or best practices? Click through to learn about hazard pay and whether you should provide it.

    Saved on 12-03-2020 - Remove
  • Disaster Relief Payments: A Simple Way To Help Employees

    There's an underrated benefit flying under the radar as the COVID-19 pandemic rages on — and it comes in the form of tax-free disaster relief payments. Click through for insight into this simple, tax-advantaged program.

    Saved on 12-03-2020 - Remove
  • Tip-based Businesses: Know the Rules

    If you're running a business where gratuities are a major part of your employees' pay, you need to know the regulations. Click Full Article below for a quick introduction to make sure you and your staff are compliant.

    Saved on 12-03-2020 - Remove
  • Short-Term Investing Options

    In these confusing times, you may want to keep some money set aside and not make an immediate long-term commitment. Fortunately, you have a range of choices. Click through for unique ways to earn money in the short term.

    Saved on 12-03-2020 - Remove
  • Handling Politics in the Workplace

    Talking about politics in the workplace can lead to arguments, disrupt daily work routines and lower morale. You cannot stop the discussions, but there are some steps you can take to calm your workplace and make everyone feel included.

    Saved on 12-03-2020 - 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 12-03-2020 - Remove
  • 5 Best Practices for Online Video Meetings

    Although many employers used videoconferencing before the pandemic, in recent months, its use has soared. Still, many users are confused about how best to use it. Click through for tips on hosting successful video meetings.

    Saved on 12-03-2020 - Remove
  • We Hope You Scare Up Some Fun This Halloween!

    Halloween night is coming! Light your lanterns and roam around to scoop up as many candies as can be found. Click through for a special spooky greeting.

    Saved on 12-03-2020 - 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 12-03-2020 - Remove
  • Small PPP Loan Borrowers Get Big Break

    The SBA has issued a new form that makes it much easier for smaller borrowers to qualify for loan forgiveness, and also has clarified due dates. Click through to see if your company is eligible for the simplified paperwork.

    Saved on 12-03-2020 - Remove
  • Filing Responsibilities With Income or Loss From Business

    In these uncertain times, many taxpayers who normally were on staff have turned part time or full time to the "gig economy." This means they have to file Schedule C as part of their tax return. Click through for an introduction to the tax requirements.

    Saved on 12-03-2020 - 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 12-03-2020 - Remove
  • Compensation Planning in the Covid-19 Era

    Compensation planning in the Covid-19 era is like nothing we have seen before. The financial and economic effects of the pandemic continue to be shifting. Click through for guidance about how your company should handle compensation, especially if facing a cash crunch.

    Saved on 12-03-2020 - Remove
  • Employees, Vaccines and Covid-19: What Are the Legal Issues?

    Covid-19 isn't the only pressing health issue: The flu is also forcing companies to deal with health-related issues. Click through for information about practical and legal ramifications as well as advice to keep your employees safe.

    Saved on 12-03-2020 - Remove
  • Is This Your Situation: Differentiating Between Independent Contractors and Employees

    Identifying who is an independent contractor and who is an employee can be a complicated task, and the penalties for making an incorrect classification can be severe. Click through to make sure you understand how to correctly make this determination.

    Saved on 12-03-2020 - 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 01-15-2021 - Remove
  • Know About the Unemployment Tax

    If you have employees, you must report and pay unemployment taxes to the IRS — and the devil is in the details. Click through for the rules of how to set aside amounts for the tax and report it on Form 940.

    Saved on 01-15-2021 - 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 01-15-2021 - 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 01-15-2021 - 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 01-15-2021 - Remove
  • How Are Trusts Taxed?

    Trusts are subject to taxation, but not in the same way businesses and individuals are. They have their own special rules, and both grantors and beneficiaries need to be aware of them. Click through for an introduction to trusts and taxation.

    Saved on 01-15-2021 - Remove
  • Business Interest Expense: The New Rules

    The IRS has issued final regulations about deductions for business interest expense under the TCJA. Click through to see how the agency tackles the definition of interest and learn about exceptions that may apply to you.

    Saved on 01-15-2021 - Remove
  • Don't Get Over Your Head in Investing

    Too many stories have appeared in the news about naive investors who lose their savings because of overreliance on tools that make Wall Street look safe and easy. Click through for some thoughts on being careful.

    Saved on 01-15-2021 - Remove
  • IRS Introduces the New Form 1099-NEC

    Although the rules on paying freelancers haven't changed, the paperwork has. The IRS has rolled out Form 1099-NEC, which businesses must use for paying nonemployee compensation. Click through to learn how it works.

    Saved on 01-15-2021 - Remove
  • Can the COVID-19 Vaccine Be Mandatory?

    Many employers have a strong case for requiring employee vaccinations, say legal experts, but it's a complex landscape. Click through to see what your vaccination policies should include — and exclude.

    Saved on 01-15-2021 - 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 01-15-2021 - 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 01-15-2021 - 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 01-15-2021 - Remove
  • IRS: Tax Return Status

    Where is your federal tax return refund? It depends. The IRS hasn't updated its information since the beginning of December, but there is some info. Click through to see what, if anything, you can do to find out what's happening with your return.

    Saved on 01-15-2021 - Remove
  • Aid Package Signed Into Law

    The much discussed and debated relief package has been signed into law. As it's over 5,000 pages, it's full of provisions whose details are still being reviewed. Click through for a basic outline of what taxpayers can expect.

    Saved on 01-15-2021 - Remove
  • 6 Tips for Handling Virtual Layoffs

    It's never pleasant when layoffs become a necessity, and now the pandemic has turned the process virtual. Conducting layoffs through online meetings is the new norm. Click through for six ways to navigate layoffs in the virtual sphere.

    Saved on 03-10-2021 - Remove
  • Estate Planning If You're Living Overseas

    Estate planning is complex enough, and when you're living overseas, that just makes it worse. Click through to learn about the myriad techniques that can mitigate the punitive effect of transfer taxes.

    Saved on 03-10-2021 - Remove
  • New Stimulus Has Plenty for Small Business

    The pandemic relief measure provides $325 billion in small-business funds and gives businesses another bite at the PPP apple. Click through for the details on what's available to make sure you get the cash you're entitled to.

    Saved on 02-18-2021 - Remove
  • How To Raise and Maintain a Credit Score

    More than ever, in today's tumultuous world, it is important to maintain a good credit score, even while economic difficulties make it tough. Click through to learn how to build and maintain healthy credit habits in good times and bad.

    Saved on 02-18-2021 - Remove
  • QuickBooks: Invoices and the Billing Process

    Managing invoices can be a tiresome task for small businesses. Fortunately, there are ways to simplify the process. Click through to see how QuickBooks can make the whole billing process easier.

    Saved on 02-18-2021 - Remove
  • Is This Your Situation: Protecting Against Employee Theft

    Business owners lose about $50 million a year to employee theft and fraud, according to the U.S. Chamber of Commerce. Click through for a glimpse at some of the many ways employees could be stealing from you.

    Saved on 02-18-2021 - Remove
  • The SEP-IRA: Just Right for Small Businesses

    Traditional pensions plans and 401(k)'s may not be appropriate for small businesses and the self-employed. However, that doesn't mean there are no other options. Click through to learn about the powerful and adaptable SEP-IRA.

    Saved on 02-18-2021 - Remove
  • Filing Taxes for the Deceased

    Tax responsibilities don't end with death. Indeed, it's an important part of the executor's job to file the deceased person's state and federal final income tax returns for the year of death. Click through to address specific tax filing responsibilities.

    Saved on 02-18-2021 - 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 02-18-2021 - Remove
  • Estate Plan Building Blocks

    You hear a lot of talk about having an estate plan, but what is it all about? What are the pieces in a plan—is it more than just a will? Click through for an overview of an estate plan, to help you understand why everyone needs one.

    Saved on 02-18-2021 - Remove
  • What To Know About the Alternative Minimum Tax

    The dreaded AMT has been with us for a while, but that doesn't mean it hasn't changed over the years. Is it likely to affect you, and if so, how? Click through for a review of the AMT and what it may mean to you.

    Saved on 02-18-2021 - 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 02-18-2021 - Remove
  • What's the Story With an IRS Offer in Compromise?

    An offer in compromise allows you to settle your tax debt for less than the full amount you owe. And in this complicated tax year, you may want to know more about it. Click through to understand how to take advantage of this program.

    Saved on 02-19-2021 - Remove
  • IRS Turbocharges the Employee Retention Tax Credit

    Last year the government created an employee retention tax credit to keep employees on their payroll. Recent tweaks have made it even more attractive. Click through to see if it's something your business should take advantage of.

    Saved on 02-19-2021 - Remove
  • What To Know About S-Corp Returns

    S-Corps are a special kind of business entity, and they have their own special tax rules, which can get complicated. Are you making sure you're following all the filing rules? Click through for an intro to the complex world of S-Corp taxation.

    Saved on 02-19-2021 - Remove
  • What's the Story Behind Estimated Taxes?

    If you're a typical worker, your employer withholds taxes from each paycheck. But for the self-employed, it's a different story: they have to file estimated taxes throughout the year. Click through for an overview of the estimated tax rules.

    Saved on 02-19-2021 - Remove
  • Will You Be Subject to a Penalty for Not Filing Your 2020 Estimated Taxes?

    2020 was a hard year. But taxes for that crazy year still will be due on April 15, 2021, and if you underestimated the amount of tax you owe, you may be subject to a hefty penalty. Click through to find out whether you could be delinquent.

    Saved on 02-19-2021 - Remove
  • What the New PPP Means for Your Business

    The new round of Paycheck Protection Program loans is available to both new and second-time borrowers. Who gets the money? And what are the rules? Click through to see what might be in store for your business.

    Saved on 02-19-2021 - Remove
  • Leave-Sharing Programs: What You Need To Know

    These are difficult times, and to work effectively, companies must consider new programs, such as altruistic leave-sharing arrangements. Click through for insight into these programs and how to avoid legal pitfalls.

    Saved on 04-01-2021 - Remove
  • Foreign Earned Income: The Tax Situation

    If you are a U.S. citizen or a resident alien living in a foreign country, you're still subject to the same U.S. income tax laws that you would be if you lived in the United States. Click through for an introduction to the tax situation.

    Saved on 04-01-2021 - Remove
  • The Whys and Hows of Medicaid Trusts

    A Medicaid asset protection trust is designed to protect assets from being counted for Medicaid eligibility. There are a lot of provisions, however. Click through to understand how it works and whether it might be right for you.

    Saved on 04-01-2021 - Remove
  • Small Businesses and the ADA

    A pioneering civil rights law, the Americans with Disabilities Act affects businesses of all sizes. But small businesses may not realize all the requirements. Click through for a quick review of the act's key provisions.

    Saved on 04-01-2021 - Remove
  • Federal Tax Date Postponed to May 17

    The IRS has announced that the federal income tax filing due date, as well as any payments, for individuals for the 2020 tax year will be automatically extended to May 17. Click through to learn how this will work.

    Saved on 04-05-2021 - Remove
  • Why Offer a 401(k) Plan?

    A company-sponsored retirement plan is one of the most popular benefits a business can offer its employees. But it's not a one-way street: A retirement plan offers advantages to employers as well. Click through to learn what's in it for the company.

    Saved on 04-05-2021 - 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 04-05-2021 - Remove
  • What's in the New 2021 Stimulus Bill?

    The American Rescue Plan Act has been much tweaked and much debated. But what's actually in it and who benefits from it? Click through for a summary of the main provisions of this landmark 600-page bill.

    Saved on 04-05-2021 - Remove
  • IRS Offers More Details on Relief Bill

    The recently passed American Rescue Plan Act is chock-full of provisions, and the IRS has started to issue guidance on key aspects. Click through for some additional details on this important new law.

    Saved on 04-05-2021 - Remove
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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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