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Latest Articles
Employee Business Expense Deductions: Who Qualifies? - Jan 2021 (Money)
Prior to tax reform, an employee was able to deduct unreimbursed job expenses, along with certain other miscellaneous expenses, that was more than two percent of adjusted gross income (AGI) as long...
Mukesh Makker
Protecting Business Taxpayers From Identity Theft - Jan 2021 (Money)
Starting December 13, 2020, the IRS began masking sensitive data on business tax transcripts. Previously, only sensitive data on individual tax transcripts was masked.Here's what you nee...
Mukesh Makker
Understanding the Excise Tax - Jan 2021 (Money)
An excise tax is a tax that is generally imposed on the sale of specific goods or services, or on certain uses. Examples of things a federal excise tax is usually imposed on include the sale of fuel, ...
Mukesh Makker
Standard Mileage Rates for 2021 - Jan 2021 (Money)
Starting January 1, 2021, the standard mileage rates for the use of a car, van, pickup, or panel truck are as follows:56 cents per mile driven for business use, down 1.5 cents from the...
Mukesh Makker
The COVID-related Tax Relief Act of 2020 - Jan 2021 (Money)
The Consolidated Appropriations Act, 2021, H.R. 133 included funding for the government, extensions for expiring tax extenders, tax relief under the COVID-related Tax Relief Act of 2020, and many m...
Mukesh Makker
Credit Reports: What You Should Know - Jan 2021 (Money)
Creditors keep their evaluation standards secret, making it difficult to know just how to improve your credit rating. Nonetheless, it is still important to understand the factors that determine cre...
Mukesh Makker
Identity Protection PIN Available To All Taxpayers - Jan 2021 (Money)
Starting in January 2021, the IRS Identity Protection PIN Opt-In Program will be expanded to all taxpayers who can properly verify their identity. Previously, IP PINs were only available to identit...
Mukesh Makker
Important Tax Changes for Individuals and Businesses - Jan 2021 (Money)
Every year, it's a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here's a checkli...
Mukesh Makker
Charitable Donation Deduction Could Lower Your Tax Bill - Dec 2020 (Money)
The Coronavirus Aid, Relief and Economic Security (CARES) Act, enacted last spring, includes several temporary tax changes that help charitable organizations. One such provision allows taxpayers to de...
Mukesh Makker
Beware of Gift Card Tax Scams - Dec 2020 (Money)
There's never an off-season when it comes to scammers and thieves who want to trick people to scam them out of money, steal their personal information, or talk them into engaging in questionable be...
Mukesh Makker

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