As the events of the COVID-19 pandemic evolve, we are continuing to adapt to the changing tax landscape and world events. We are continually evolving to ensure that we do what is in the best interest of our clients, staff and community.
In order to keep our clients informed of the rapidly changing tax and business landscape we have developed a COVID-19 Resource Center to communicate important information, timely and accurately.
We strongly encourage you to leverage our expertise during these trying times. We have a deep understand and broad view of the economic climate which can add significant value during these uncertain times. We are committed to assisting you in successfully managing through the rapidly changing economic environment.
Tax Planning Tools
Since our primary focus is on planning, we develop a variety of planning tools to help you through out the year. Here is our most recent current tax development to help with your planning.
Under current law, 100% bonus depreciation will be phased out in steps for property placed in service in calendar years 2023 through 2027. Thus, an 80% rate will apply to property placed in service in 2023, 60% in 2024, 40% … Continue reading
In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This may result in federal “nanny tax” obligations. Keep in mind that the nanny tax may apply to all household … Continue reading