The Tax Implications of Employer-Provided Life Insurance

August 3, 2020

Does your employer provide you with group term life insurance? If so, and if the coverage is higher than $50,000, this employee benefit may create undesirable income tax consequences for you. â..

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Are Scholarships Tax-Free or Taxable?

July 28, 2020

COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even if it’s just for online learning, and some parents will be facing tuition b..

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School District Eligibility for the FFCRA Tax Credit

July 24, 2020

We have received many inquiries about The Families First Coronavirus Response Act (the "FFCRA") tax credit for COVID-related paid leave and whether they are applicable to school districts. The FFCRA p..

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Take Advantage of a “Stepped-Up Basis” When You Inherit Property

July 23, 2020

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. Fair market value rules Under the fair market ..

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Conduct a “Paycheck Checkup” to Make Sure Your Withholding is Adequate

July 14, 2020

Did you recently file your federal tax return and were surprised to find you owed money? You might want to change your withholding so that this doesn’t happen next year. You might even want to d..

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After You File Your Tax Return: 3 Issues to Consider

July 8, 2020

The tax filing deadline for 2019 tax returns has been extended until July 15 this year, due to the COVID-19 pandemic. After your 2019 tax return has been successfully filed with the IRS, there may..

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