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How Can Business Owners Lower Last Year’s Tax Bill?
Good news! Business taxpayers may still be able to take actions to lower their federal income tax liabilities for 2020, as well as for future years. Consider these ideas for reducing your tax bill before…
- Kirsch CPA Group
- Feb 18, 2021
Last-Minute Tips for Your 2020 Personal Return
Goodbye, 2020. Hello, tax season. Individual taxpayers have until April 15, 2021, to pay Uncle Sam for taxes owed for 2020. (Remember, you can extend the deadline for filing your return until October 15, but…
- Dreama Gordon-Tipton
- Feb 18, 2021
Opportunity Zone Investments: A Tax Deferral Opportunity You May Have Overlooked
Many investors are unaware of the potential to defer taxes by investing in a qualified opportunity zone (“QOZ”). Created by the Tax Cuts and Jobs Act of 2017 and intended to spur economic development in…
- Kirsch CPA Group
- Feb 17, 2021
Are You Thinking About Selling Your Business?
Private business owners today face a challenging landscape, and some are now considering selling their businesses before Congress has a chance to increase the rates on long-term capital gains. Before putting your business on the…
- Kirsch CPA Group
- Jul 20, 2024
CAA Offers Tax Breaks for Manufacturers
The Consolidated Appropriations Act (CAA) — the massive spending package passed in December 2020 — includes many tax breaks designed to help businesses that have been struggling during the COVID-19 pandemic. Specifically, the new law…
- Kirsch CPA Group
- Feb 04, 2021
Important Tax Figures for 2021
The following table provides some important federal tax information for 2021, as compared with 2020. Some of the dollar amounts are unchanged and some changed only slightly due to inflation. Social Security/ Medicare 2021 2020 Social…
- Kirsch CPA Group
- Feb 04, 2021
Contractors: Fraud Prevention Starts with You
From equipment theft to padded time to cyberattacks, contractors are vulnerable to a variety of fraud schemes. According to the Association of Certified Fraud Examiners, the median loss due to internal fraud is $200,000 for…
- Kirsch CPA Group
- Feb 04, 2021
Is Your Estate Plan Aging as Gracefully as You Are?
A lot can change over a lifetime — including with your wealth, family composition, and priorities. That's why you need to revise your estate plan as you progress through life. Milestones such as becoming a…
- Kirsch CPA Group
- Feb 04, 2021
Nonprofits Need to Educate Donors About New Tax Benefits
The Consolidated Appropriations Act (CAA) enacted in December 2020 extends and modifies several key tax provisions originally included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act provided several forms of…
- Kirsch CPA Group
- Feb 04, 2021
Three New Payroll Tax Provisions For Eligible Employers
Signed into law in the waning days of 2020, the Consolidated Appropriations Act (CAA) provides some new tax breaks for employers — including three payroll-related items. These are the employee retention tax credit, family and…
- Kirsch CPA Group
- Feb 04, 2021
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