nasonaccountin

February 15, 2021
Men driving red convertible

New Mileage Rates for 2021

The optional standard mileage rates for business use of a vehicle will decrease in 2021, after increasing slightly last year, the IRS announced. For business use of […]
January 15, 2021
checklist

Reminder

Reminders   W-2’s and 1099’s must be sent to employees and contractors no later than January 31, 2020.   Also, 4th quarter payroll reports are due […]
December 30, 2020
loan forgiveness

PPP Loan Forgiveness

For those of you with PPP Loans, now is the time most of you can apply for forgiveness.  Please be aware that, as of now, the […]
November 30, 2020

The Inflation Adjusted Thresholds for Various Tax Levels Announced

The IRS recently issued the 2021 annual inflation adjustments for many tax provisions,  These adjusted amounts will be used to prepare tax year 2021 returns in […]
October 6, 2020
check

2020 Charitable Donations

Don’t forget that Congress included a provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which is intended to provide some relief for charitable […]
September 6, 2020
Time for taxes

What taxpayers should do if they get a letter or notice from the IRS

Here are some dos and don’ts for taxpayers who receive one:
August 27, 2020
commercial property

Unclaimed Property Reporting Requirements

Did you know all businesses are required to submit an unclaimed property report to the State Treasurer’s Office by November 1 each year? If you didn’t, […]
July 6, 2020
IRS

IRS Announces Rollover Relief for Required Minimum Distributions

The Internal Revenue Service today announced that anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now has the opportunity […]
June 26, 2020

IRS Allows Midyear Changes to Health Coverage

As part of its response to the coronavirus pandemic, the IRS announced that it is permitting increased flexibility for midyear elections under a Sec. 125 cafeteria […]