In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs Act, these expenses aren’t deductible through 2025 if they’re considered expenses for the production of income. But they are [...]
COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations. 1. Working from home. Many employees have been told not to come into their workplaces due to the pandemic. If you’re an employee who “telecommutes” [...]
https://www.newburg.com/the-great-experiment-remote-work-and-the-new-reality-of-real-estate/
https://www.newburg.com/partnership-aspects-of-final-and-proposed-regulations-on-business-interest-expense-deduction-under-section-163j/
https://www.newburg.com/employee-payroll-tax-deferral-irs-notice-and-employer-dilemma/
Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule. In any event, parents may be eligible for certain tax breaks to help defray the cost of education. Here is a summary of some of the tax breaks available [...]
The technology industry is proving out its resilience. As every industry responds to change and disruption, tech companies are being relied upon more than ever to accommodate remote work, food and supply access, health services, communication, connectivity and entertainment. Innovation remains imperative. While it’s difficult to predict the near-term [...]
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020, waived required minimum distributions (RMDs) from tax-qualified defined contribution retirement plans (such as 401(k) and 403(b) plans) and individual retirement accounts (IRAs) that were otherwise due in 2020 to help Americans cope with the uncertainty [...]
While you probably don’t have any problems paying your tax bills, you may wonder: What happens in the event you (or someone you know) can’t pay taxes on time? Here’s a look at the options. Most importantly, don’t let the inability to pay your tax liability in full keep [...]
You may use a qualified disclaimer to refuse a bequest from a loved one. Doing so will cause an asset to bypass your estate and go to the next beneficiary in line. What are the reasons you’d take this action? Here are five reasons: 1. Gift and estate tax [...]
