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What You Need to Know About the SECURE Act

Inherited IRAs and the SECURE Act of 2019 At the end of 2019, the SECURE Act (Setting Every Community Up for Retirement Enhancement Act) was signed into law, modifying RMD (required minimum distribution) rules for inherited IRAs and retirement accounts.  Under the SECURE Act, inherited IRAs and retirement accounts must be distributed and taxed within 10 years of the original owner’s death.  Prior to the SECURE Act, inherited IRAs were frequently referred to as “stretch” Read more [...]
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Special Edition: Preparations We’ve Made for You to Keep You Safe During the Coronavirus COVID-19 Spread

We sincerely hope that you and your family are healthy and happy and will not be directly impacted by the highly contagious coronavirus during this flu season. In our tax and accounting office, we have taken serious precautions to fight the spread of this disease, and we wanted to let you know your health and safety is of paramount importance to us.  Virtual Services For people who prefer to restrict their social activity, we understand and are ready to serve you virtually through Read more [...]
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Staying Productive While Working From Home

How to Work from Home More Often If you agree that “there’s no place like home,” then you may also have a wish to work from home more often. In many cases, you can, and here are some tools you need to get started.  If the products and services your business sells can be sold or delivered digitally, then you’re a candidate for working from home most of the time. If you have a storefront where customers visit to purchase your products and services, you can still perform some Read more [...]
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Special Edition: Families First Law

Changes Affecting Small Business Employers Disclaimer: This article will provide a broad overview of this act.  Be sure to consult with legal experts to fully understand how this legislation affects your business.  The Families First Coronavirus Response Act was passed on March 18, 2020 and contains several provisions that affect private businesses with fewer than 500 employees and all public employers. It goes into effect April 2, 2020. The major sections affecting employers include: Emergency Read more [...]
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The Augusta Rule: How to Receive Tax-Free Income

What is the Augusta Rule? The Augusta Rule, known to the IRS as Section 280A, allows homeowners to rent out their home for up to 14 days per year without needing to report the rental income on their individual tax return.  Originally created to protect residents of Augusta, Georgia who would rent out their homes to attendees of the annual Masters golf tournament, the Augusta Rule applies to any taxpayer who owns a home in the United States, provided that your home is not your primary Read more [...]