When Should Not-for-Profit Organizations Return Donations?

Jan 07, 2021 Kirsch CPA Group

A donor makes a cash contribution to a nonprofit community health organization. The donor itemizes income tax deductions and meets the IRS’s substantiatio...

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A Dozen New Year’s Resolutions for Small Business Owners

Jan 07, 2021 Kirsch CPA Group

Have you made any New Year’s resolutions for 2021? Resolutions usually take the form of personal goals like eating healthier or getting rid of clutter aro...

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Appropriations Law Adds Some Business Tax Breaks and Extends Others

Jan 07, 2021 Kirsch CPA Group

President Trump signed the Consolidated Appropriations Act (CAA) into law on December 27, 2020. The legislation adds a few new tax breaks for businesses and ext...

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The Tax Implications of Closing a Schedule C Business

Jan 07, 2021 Kirsch CPA Group

Unfortunately, many businesses have already been forced to close their doors due to the economic fallout from COVID-19, and more will surely follow. Closing a b...

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Energy-Related Tax Breaks Are Extended in the New Law

Jan 07, 2021 Kirsch CPA Group

The massive economic stimulus and government spending law, which was signed on December 27, 2020, extends several energy-related tax breaks. Before the Consolid...

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COVID-Related Tax Relief Is Signed Into Law

Dec 28, 2020 Kirsch CPA Group

On December 27, President Trump signed the Consolidated Appropriations Act of 2021 (CAA), which provides pandemic relief, as well as other tax and health-relate...

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Just in Time for the Holidays: Pandemic Relief for Individuals

Dec 23, 2020 Kirsch CPA Group

On December 21, Congress passed the Consolidated Appropriations Act of 2021 (CAA), which provides pandemic relief for individuals and businesses, as well as oth...

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Covid Relief – Second Act Stimulus

Dec 22, 2020 Kirsch CPA Group

On Monday, December 21, 2020, Congress voted to approve a long-awaited stimulus related to the ongoing Covid-19 Coronavirus pandemic. The legislation is expecte...

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Current Individual Federal Income Tax Rate Scene

Dec 17, 2020 Kirsch CPA Group

Here’s an overview of the current individual tax rates under the Tax Cuts and Jobs Act (TCJA). Many of its provisions that affect individuals will expire ...

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Tax Implications of Holding Precious Metal Assets in Your IRA

Dec 17, 2020 Kirsch CPA Group

Given today’s stock market valuations and historically low-interest rates on fixed-income investments, some IRA owners may be interested in moving some fu...

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