The impact of the COVID-19 pandemic has left millions of Americans on unemployment benefits—many of them for the first time. As businesses close or as they reduce their staff size, former employees are turning to unemployment income to make ends meet. But what many first-time...
Contributing to your retirement accounts is an important investment into your financial future—but it can offer you some tax benefits too. It’s important that you consider both the immediate and future tax implications of your retirement contributions so that you can take control of your...
For those who have never had Social Security Benefits on their tax return, it’s important to understand how Social Security is taxed. Many people believe that this type of income is never taxed, but this is not always the case. The amount of your benefits...
As the saying goes, “Breaking up is hard to do.” Whether it’s a personal or professional relationship, ending it can get uncomfortable and, sometimes, quite complicated. If you’re considering ending your business relationship with your current CPA, the potential complications of switching to a new...
For those in the powersports industry, Lightspeed accounting software provides niche features that make bookkeeping and inventory management simpler and easier. And while the specialized nature of this accounting software is ideal for use in the powersports industry, it does make it difficult to find...
Last month, the federal government began issuing stimulus payments to qualifying U.S. citizens in an attempt to prop up the economy in the wake of COVID-19. These checks come as a relief to many who are struggling financially at this time, and were just a...
In the wake of COVID-19’s impact on individuals’ daily lives and the US economy as a whole, President Trump recently announced a relief plan for both individuals and business. The highlights of this plan included economic impact payments for every citizen: $1,200 per person, plus...
The COVID-19 pandemic continues to spread across the United States, and people throughout the country are feeling the heavy impact of this virus in their day-to-day lives. The latest recommendations from the government include avoiding gatherings with more than 10 people, which has led to...
The Setting Every Community Up for Retirement Enhancement (or SECURE) Act was signed into law on December 20, 2019, and went into effect at the beginning of this year. This act was designed to assist Americans in preparing and saving for retirement, and many of...
The IRS has recently announced that it will be increasing its efforts and taking a more direct approach to handling taxpayers who haven’t filed tax returns. Their primary focus will be on high-income taxpayers who did not file a tax return in 2018 or previous...
