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TAX BLOG

Home Office Deduction

I hope you and your families are doing well and staying safe & healthy! One of the deductions that was eliminated with the Tax Cuts and Jobs Act of 2017 was the home office deduction. Prior to TCJA, employees could deduct from their income a portion of expenses...

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CARES Act

Fast on the heels of passing the Families First Coronavirus Response Act (a law which ensures paid sick leave and unemployment benefits for employees affected by the COVID-19 pandemic along with payroll tax credits for affected employers), Congress passed and the...

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Tax Season Update

I hope you and your families are doing well and staying safe & healthy! Just wanted to provide an update on our tax season operations given the extraordinary developments related to the coronavirus epidemic. We are working as we normally would. I am in the...

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Roth Conversions

Roth Conversions As more and more baby boomers continue to reach retirement age, many are looking at the benefits of converting traditional IRA accounts to Roth IRAs.  The way a Roth conversion works is that tax would be due on the converted amount since it was...

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Stretch IRA strategy curtailed under new law

Stretch IRA strategy curtailed under new law Last month, in the midst of all the impeachment proceedings, Congress quietly passed legislation that would make significant changes to the tax laws governing retirement plans. The most significant provision would require...

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