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Setting Every Community Up for Retirement Enhancement (SECURE) Act

Highlights of spending package’s tax law changes The federal government spending package titled the Further Consolidated Appropriations Act, 2020, does more than just fund the government. It extends certain income tax provisions that had already expired or that were due to expire at the...
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Excess business loss rule may be unfavorable to you

Sole proprietorships and pass-through entity structures, which include partnerships, S-corporations and certain limited liability companies (LLCs), provide owners with some valuable tax benefits, such as avoidance...
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Form-1099 Engagements Information Guide

How do I gather information to issue a 1099? Collect the following form from vendors: IRS Form W-9 Complete this vendor template Submit to Hancock Askew...
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The TCJA limit on interest expense deductions

The Tax Cuts and Jobs Act introduced a variety of tax benefits for businesses. At the same time, the act placed limits on several tax breaks,...
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Donor Advised Funds

Do you have a donor-advised fund?  Do you know why you might want one?  Do you know what one is?  If you are a charitably inclined taxpayer, you should become familiar with these funds as one may be right for you. A donor advised...
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Taxes and the Gig Economy

By: Susan G. Corderman Clifford, CPA, Principal If you skip choosing a designated driver and take an Uber or Lyft instead, if you bypass the hotel...
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Tax Implications of Funding a Grandchild’s Education

By Susan G. Corderman Clifford, CPA – Principal If you are a grandparent in a financial position to help your grandchildren with their college education, you...
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IRS and Treasury Release Second Set of Opportunity Zone Guidance

On April 17, 2019, the IRS and Treasury issued its much anticipated second set of proposed regulations under Internal Revenue Code, Section 1400Z-2, Special rules for capital gains invested...
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Ways to Avoid Selling in a Down Market and Still Take Your Required Minimum Distribution

Prepared by Susan Clifford, CPA – Principal Are you taking required minimum distributions?  Does the fluctuating market have you worried about having to sell in a down market...
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Waived Estimated Tax Penalties

You may have noticed some additional cash in your pocket this year, perhaps a little too much. Some taxpayers have potentially paid too little through income...
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