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Jar with cash and coins with "H.S.A." on it next to pink piggy bank
11.30.20

Do You Know the “Hidden” Advantage of HSAs?

A Health Savings Account (HSA) coupled with a high-deductible health plan can be a powerful tool for funding medical expenses on a tax-advantaged basis. For…

Lady with white suit and short gray hair typing on laptop
11.30.20

Catching up on Catch-up Contributions

When it comes to retirement planning, many people tend to focus on two things: opening a retirement savings account and then eventually drawing funds from…

Tax deduction written on a piece of paper.
11.30.20

The Tax Impact of Business Property Remediation

If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be tax-deductible as ordinary and necessary business…

Person in wheelchair reaching for object on high shelf
11.30.20

ABLE Accounts Help Those With Disabilities

There’s a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility for government benefits…

Calculator with tax 2020 typed into it
11.28.20

Small Businesses: Cash in on Depreciation Tax Savers

As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other…

White silhouette woman figure walking om chess board with "s corporation elections" above it
11.26.20

The Importance of S Corporation Basis and Distribution Elections

S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses…

Warning sign for charity fraud with man silhouette running away with money bag
11.25.20

‘Tis The Season for Charity — and Charity Fraud

Americans generally feel generous during the holidays and usually are eager to donate to worthy charitable causes. At the same time, they’re so busy and…

Headshot of Mike Reilly, Managing partner at Dannible & McKee, LLP
11.24.20

IRS Confirms the Non-Deductibility of PPP Loan Related Expenses

In April, the Internal Revenue Service (IRS) released Notice 2020-32 to address the deductibility of certain expenses relating to the Paycheck Protection Program (PPP). Ordinarily,…

The White House emblem
11.17.20

Consider Reevaluating Your Tax Plans Based on the Outcome of the Presidential Election

Now that Joe Biden has been projected as the winner of the presidential election by major news outlets*, you may wonder if your federal taxes…

Headshot of Deborah Finch, Partner at Dannible & McKee
11.10.20

Be Aware: Telecommuting During COVID-19 Can Trigger State Nexus

It’s no secret that the sudden shut-down of businesses across the country in response to the COVID-19 pandemic resulted in a dramatic increase in the…