New IRS FAQs: 2020 Employment Tax Deposits/ Payments Deferral
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New IRS FAQs: 2020 Employment Tax Deposits/ Payments Deferral

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides employers with a deferral mechanism for the employer portion of any Social Security taxes and self-employed individuals with a deferral mechanism for the employer portion of any self-employment taxes... David E. Peritz, CPA

The Gig Economy
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The Gig Economy

The gig economy is a growing income sector in the world and a growing niche for tax professionals to harvest. Before jumping into this market, it is necessary to know some things about this area of practice. Let’s start with the definition of a gig, per Merriam-Webster: “a job usually for ... Kathryn M. Morgan, EA

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Tax Implications of Home Flipping: Dealer Or Investor

With today’s hot real estate market and rapidly escalating property values, many clients are engaging in real estate investing and house flipping. Indeed, there are many reality TV shows and real estate networks dedicated to glamorizing the quick profits that can be made in these activities. What these programs fail to mention are the tax consequences of these transactions. As tax professionals, that’s where we come in... Keith A. Espinoza, EA