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Stay up to date with the most recent industry news and what’s happening at Topel Forman
The IRS issues guidance on the executive action deferring payroll taxes (September 2, 2020)
The IRS has issued guidance on the payroll tax deferral scheduled to begin on September 1. Here’s what it says.
What does the executive action deferring payroll taxes mean for employers and employees? (August 12, 2020)
Using an executive action, President Trump defers payroll taxes from Sept. 1 through the end of the year. But there are many unanswered questions.
More parents may owe “nanny tax” this year, due to COVID-19 (August 11, 2020)
Do you have a nanny, housekeeper, or other household workers? If you pay him or her cash wages of $2,200 in 2020, you must withhold and pay Social Security and Medicare taxes. Learn about this and other tax obligations for household workers.
Are scholarships tax-free or taxable? (July 29, 2020)
Scholarships are generally tax-free but there are times when academic awards result in taxable income.
COVID-19-related leave donation programs now eligible for tax relief (July 8, 2020)
Employers can help battle COVID-19 by allowing employees to give up paid time off and then donating cash to a qualified charity. The IRS is now offering tax relief for such programs.
IRS guidance provides RMD rollover relief (July 1, 2020)
IRS guidance has provided relief to individual taxpayers affected by COVID-19 who take distributions or loans from retirement plans and offers guidance to employers regarding the administration of loan relief.
What qualifies as a “coronavirus-related distribution” from a retirement plan? (June 24, 2020)
If you need money due to COVID-19, you may be able to take a tax-free “coronavirus-related distribution” from a retirement plan. The IRS has released guidance explaining who qualifies for one of these distributions.
Is it time to outsource finance and accounting? (June 15, 2020)
Outsourcing has been a hot topic for businesses during the COVID-19 crisis. Here’s what you should know before applying this cost-cutting strategy to your finance and accounting department.
PPP borrowers get concessions, additional guidance on forgiveness (June 8, 2020)
The Paycheck Protection Program Flexibility Act eases PPP loan forgiveness restrictions. Here are the details of the law, along with some recent guidance for borrowers.
IRS releases 2021 amounts for Health Savings Accounts (May 27, 2020)
There are many advantages to Health Savings Accounts (HSAs). Here are a few of them, along with the HSA inflation-adjusted amounts for the 2021 calendar year.
Looking for a trust that can also act as a financial backup plan? Consider a SLAT (May 21, 2020)
A spousal lifetime access trust (SLAT) can be a valuable tool to help a spouse remove significant wealth from his or her taxable estate while providing a safety net in the event financial circumstances change.
Independent assurance inspires confidence in sustainability reports (May 20, 2020)
What is a “sustainability” report? What reporting standards apply? And why does your report need an external audit? Find the answers here.
No results found.
The IRS issues guidance on the executive action deferring payroll taxes (September 2, 2020)
The IRS has issued guidance on the payroll tax deferral scheduled to begin on September 1. Here’s what it says.
What does the executive action deferring payroll taxes mean for employers and employees? (August 12, 2020)
Using an executive action, President Trump defers payroll taxes from Sept. 1 through the end of the year. But there are many unanswered questions.
More parents may owe “nanny tax” this year, due to COVID-19 (August 11, 2020)
Do you have a nanny, housekeeper, or other household workers? If you pay him or her cash wages of $2,200 in 2020, you must withhold and pay Social Security and Medicare taxes. Learn about this and other tax obligations for household workers.
Are scholarships tax-free or taxable? (July 29, 2020)
Scholarships are generally tax-free but there are times when academic awards result in taxable income.
COVID-19-related leave donation programs now eligible for tax relief (July 8, 2020)
Employers can help battle COVID-19 by allowing employees to give up paid time off and then donating cash to a qualified charity. The IRS is now offering tax relief for such programs.
IRS guidance provides RMD rollover relief (July 1, 2020)
IRS guidance has provided relief to individual taxpayers affected by COVID-19 who take distributions or loans from retirement plans and offers guidance to employers regarding the administration of loan relief.
What qualifies as a “coronavirus-related distribution” from a retirement plan? (June 24, 2020)
If you need money due to COVID-19, you may be able to take a tax-free “coronavirus-related distribution” from a retirement plan. The IRS has released guidance explaining who qualifies for one of these distributions.
Is it time to outsource finance and accounting? (June 15, 2020)
Outsourcing has been a hot topic for businesses during the COVID-19 crisis. Here’s what you should know before applying this cost-cutting strategy to your finance and accounting department.
PPP borrowers get concessions, additional guidance on forgiveness (June 8, 2020)
The Paycheck Protection Program Flexibility Act eases PPP loan forgiveness restrictions. Here are the details of the law, along with some recent guidance for borrowers.
IRS releases 2021 amounts for Health Savings Accounts (May 27, 2020)
There are many advantages to Health Savings Accounts (HSAs). Here are a few of them, along with the HSA inflation-adjusted amounts for the 2021 calendar year.
Looking for a trust that can also act as a financial backup plan? Consider a SLAT (May 21, 2020)
A spousal lifetime access trust (SLAT) can be a valuable tool to help a spouse remove significant wealth from his or her taxable estate while providing a safety net in the event financial circumstances change.
Independent assurance inspires confidence in sustainability reports (May 20, 2020)
What is a “sustainability” report? What reporting standards apply? And why does your report need an external audit? Find the answers here.
No results found.
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