Contending With the Patchwork of State Requirements for Nonprofits

Not-for-profits are held to strict reporting standards. For instance, your organization is required to annually file Form 990 with the IRS to preserve your tax–exempt status, among other requirements. But reporting isn't limited to the federal…


  • Kirsch CPA Group
  • Dec 17, 2020

When It Comes to Trusts, Silence May Be Golden

The idea of leaving a significant inheritance to your children or grandchildren may give you pause. Could the promise of wealth make your heirs act financially irresponsible or reckless? Anticipating a cash cushion, will they neglect…


  • Kirsch CPA Group
  • Dec 17, 2020

Contractors: Act Now to Plug Cybersecurity Holes

The coronavirus pandemic has forced many construction companies to embrace a more distributed workforce. Employees who can work remotely are keeping connected with online and mobile technology. Meanwhile, team members on jobsites may be accessing…


  • Kirsch CPA Group
  • Dec 17, 2020

FAQs About COVID-19 Tax-Free Disaster Relief Payments

Many people are struggling to make ends meet during the COVID-19 pandemic. Fortunately, some individuals qualify for federal-income-tax-free disaster relief and disaster mitigation payments paid by some employers under Internal Revenue Code Section 139. Here…


  • Kirsch CPA Group
  • Dec 17, 2020

Is EEOC Enforcement Reform Coming?

Although the Equal Opportunity Employment Commission (EEOC) is intended to be nonpartisan, run by a five-member Commission, a president can appoint a new chairman and vice-chairman when their terms expire. Currently, both of those positions…


  • Kirsch CPA Group
  • Dec 17, 2020

Beware: Several CARES Act Tax Provisions Will Soon Expire

The CARES Act granted several valuable federal tax breaks for individuals and businesses. But most will expire at the end of 2020 or at the end of tax years that begin in 2020. Here's a…


  • Kirsch CPA Group
  • Dec 03, 2020

PPP Loan Not Forgiven? There’s a Safe Harbor for Deducting Expenses

The IRS recently issued guidance that provides a safe harbor allowing certain taxpayers to claim a deduction in 2020 for some otherwise deductible eligible expenses if the taxpayers received Paycheck Protection Program (PPP) loans. (Revenue…


  • Kirsch CPA Group
  • Dec 03, 2020

Overtime Pay Rules for Fluctuating Workweeks

If you pay employees who are nonexempt and who have fluctuating workweeks, there's a formula you can use to calculate their overtime pay. The formula is laid out in newly revised U.S. Department of Labor…


  • Kirsch CPA Group
  • Dec 03, 2020

Should You Buy or Lease Equipment?

If your business is in a position to acquire equipment or machinery, management faces a tough decision: Should you lease it, or should you buy it? There's no universal "right" answer. Here are some factors…


  • Kirsch CPA Group
  • Dec 03, 2020

Year-End Estate Planning Tips for 2020

Most people aren't currently exposed to the federal estate tax, thanks to the generous unified federal estate and gift tax exemptions. However, there are still good reasons to review your estate plan and possibly update…


  • Kirsch CPA Group
  • Dec 03, 2020

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