Taxable vs. Nontaxable Income

Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there’s more to it than that. Taxable income includes any money you receive,…

Post Election Tax Planning & Strategies Webinar

Post Election Tax Planning & Strategies Webinar January 28th, 10am CST Our Post Election Tax Planning & Strategies webinar discusses the potential tax impact of the Biden administration on individuals, businesses, and their owners. We discuss both what is known at this time, as well as changes that will likely take place for 2021, and…

COVID-related Tax Relief Act of 2020

COVID-related Tax Relief Act of 2020 The Consolidated Appropriations Act, 2021, H.R. 133 included funding for the government, extensions for expiring tax extenders, COVID tax relief under the COVID-related Tax Relief Act of 2020, and many more items. Passed by both the House and Senate, it was signed into law by President Trump on December…

Working Remotely Could Affect Your Taxes

When COVID-19 struck last March, employers quickly switched to a work-from-home model for their employees, many of whom began working in a state other than the one in which their office was located. While some workers have returned to their offices, many have not. If you’re working remotely from a location in a different state…