We're back for day two of our 2020 last minute tax tips series. If you missed yesterday's post, here's a link to tip #1 : Prepay expenses using the IRS safe harbor. Here is one rock-solid, time-tested, easy strategy to reduce
Our first tip of our last minute year end tax deductions series: Prepay Expenses Using the IRS Safe Harbor You just have to thank the IRS for its tax-deduction safe harbors. IRS regulations contain a safe-harbor rule that allows cash-basis taxpayers
Your goal should be to get the IRS to owe you money. Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize the cash
We honor the bravery and sacrifice of those who have served America in the armed forces. It is also a time to appreciate the commitment of our active military personnel and their dedicated families. Let us honor their courage. Please join us
The IRS grouped all of the rights taxpayers have under the law into the Taxpayer Bill of Rights. Included in the list is the right to retain representation. Here’s what the right to retain representation means to taxpayers: Taxpayers have the
We are sending out notice of MGCC's small business COVID-19 grant program, which opens today at noon and closes on November 13. Please go to the MGCC website to learn more about eligibility criteria and required documentation. Small businesses with
We are both delighted and disheartened to announce that Louise Oliveira is retiring. Louise has been a tremendous employee and was invaluable in making our office run smoothly. Louise's retirement is our loss, but a well-deserved respite for her. We
On October 14, 2020, FinCEN posted an incorrect message on its Bank Secrecy Act (BSA) E-Filing website. FinCEN removed it within 24 hours. The message incorrectly stated there was a new filing extension until December 31, 2020 for all filers
Holiday Reminder: Our office will be closed on Monday 10/12 in observance of Columbus Day. We'll be back in the office on Tuesday the 13th
On its website, the IRS has added Audi, MINI, and Toyota Prius models to the list of vehicles that are eligible for the plug-in electric drive motor vehicle credit. Code Sec. 30D(a) provides a credit to the purchaser of a qualified