Tax Archives - Page 26 of 31 - HW&Co. CPAs and Advisors

Coronavirus (COVID-19): Tax relief for small businesses

By: David M. Reape

Businesses across the country are being affected by the coronavirus (COVID-19). Fortunately, Congress recently passed a law that provides at least some relief. In a separate development, the IRS has […]

Electronically-filed Tax Returns With Scheduled Withdrawals of Tax Payments

By: David M. Reape

Part of the electronic filing process of individual returns is setting up automatic withdrawals to pay taxes that were due on April 15th. If your personal 2019 return was already […]

Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed

By: David M. Reape

On Friday, the IRS officially announced that, because of COVID-19, tax returns due April 15 will not have to be filed until July 15 this year. The notice applies to […]

IRS deferred tax payment guidance update

By: David M. Reape

This follow up is to keep you as up to date as possible on tax changes emerging as a result of COVID-19. IRS issued Notice 2020-17 clarifying Secretary Mnuchin’s comments. […]

IRS will defer tax payments with no interest or penalties

By: David M. Reape

Dear valued clients and friends of the firm: HW&Co.’s number one priority is the safety and well-being of our people, clients, families and the communities in which we live and […]

Small business owners still have time to set up a SEP plan for last year

By: David M. Reape

Do you own a business but haven’t gotten around to setting up a tax-advantaged retirement plan? Fortunately, it’s not too late to establish one and reduce your 2019 tax bill. […]

Determine a reasonable salary for a corporate business owner

By: David M. Reape

If you’re the owner of an incorporated business, you probably know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. […]

Do you run your business from home? You might be eligible for home office deductions

By: David M. Reape

If you’re self-employed and work out of an office in your home, you may be entitled to home office deductions. However, you must satisfy strict rules. If you qualify, you […]

Do you want to go into business for yourself?

By: David M. Reape

Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity. 1. You may qualify for the […]

How taxes affect your nonprofit’s donors

By: David M. Reape

The deductibility of most charitable gifts hasn’t changed since the passage of the Tax Cuts and Jobs Act, but some recordkeeping requirements have. Helping your donors who itemize deductions understand […]

Do your employees receive tips? You may be eligible for a tax credit

By: David M. Reape

Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a tax credit involving the Social Security and Medicare […]

Numerous tax limits affecting businesses have increased for 2020

By: David M. Reape

An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your […]

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