What You Need to Know About the Deferral of Payroll Tax Obligations
Our office has received numerous inquiries about President Trump’s recent memorandum. On August 8, 2020, President Trump signed an executive order allowing an elective deferral of the 6.2% employee share of Social Security tax. The…
- Kirsch CPA Group
- Sep 15, 2020
CARES Act Changes Rules for NOL Carrybacks and QIP
Consider these two favorable federal income tax rule changes included in the Coronavirus Aid, Relief and Economic Security (CARES) Act when deciding whether to take advantage of first-year depreciation breaks for assets placed in service…
- Kirsch CPA Group
- Sep 15, 2020
Paying for Group Health Plan Administrative Expenses
Here's a question from an employer about paying the administrative expenses of a group health plan. Q. Due to declining health care spending during the COVID-19 pandemic, we anticipate receiving a medical loss ratio rebate…
- Kirsch CPA Group
- Sep 15, 2020
Hobby or Business? How to Treat COVID-19 Sideline Activities for Taxes
Today, many people sell homemade products online or work on some unincorporated sideline venture outside of their regular day jobs. Such activities can generate extra spending money. This can be especially helpful for retired people…
- Kirsch CPA Group
- Sep 15, 2020
Kirsch CPA Group Named Best of the Best
INSIDE Public Accounting (IPA) has unveiled its list of the Best of the Best public accounting firms in the nation for 2020 and... Kirsch CPA Group is a Best of the Best, again! Kirsch CPA…
- Diane Glover
- Sep 03, 2020
Avoid Personal Liability for Unpaid Federal Payroll Taxes
During the COVID-19 pandemic, some cash-strapped employers may fail to pay federal income and employment taxes that were withheld from employee paychecks to the U.S. Treasury. In the eyes of the IRS, this is a…
- Kirsch CPA Group
- Sep 03, 2020
Meet our Newly Promoted Senior Analysts
We are proud to announce the promotion of Ryan Smith and Alex Getz to Senior Analyst. "Both Ryan and Alex have provided our clients with exceptional value. We are excited to promote these two individuals…
- Kirsch CPA Group
- Sep 03, 2020
Forecasting Cash Flow for Valuation in COVID-19 Era
Business valuation is a prophecy of the future. That is, investors typically value a business based on its ability to generate future cash flow. The COVID-19 crisis has caused operations to change for many businesses,…
- Kirsch CPA Group
- Sep 03, 2020
The IRS Releases this Year’s Dirty Dozen Tax Scams
Each year, the IRS compiles a list of 12 common tax scams that taxpayers may encounter during the year. This year, the "dirty dozen" list focuses on scams that target individual taxpayers, with special emphasis…
- Kirsch CPA Group
- Aug 24, 2020
Tax Considerations for Principal Residence Foreclosures Today
Despite the COVID-19 crisis, residential real estate prices generally remain stable or are even rising in many areas. Even so, pandemic-related financial stress may cause some homeowners to be unable to make their mortgage payments.…
- Kirsch CPA Group
- Aug 19, 2020