2021 Business Tax Highlights
The pandemic continues to influence your business tax life, are you capturing all the breaks and changes? Here are highlights for what's new in 2021.
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The pandemic continues to influence your business tax life, are you capturing all the breaks and changes? Here are highlights for what's new in 2021.
It almost never fails to surprise clients when depreciation recapture is involved. A sold building that looks like a loss can easily create a taxable event! This video attempts to help clients understand the basics of depreciation recapture in a light hearted way.
The new Child Tax Credit currently in place for 2021, introduces tons of changes and multiple variables. This video is a great recap that will help save you tons of time explaining this credit.
Clients are either not thinking about this year's tax obligation or are unaware of what is changing. Yet no one wants surprises. This video can help!
Here are some simple tips to help preparing your tax return less of a chore. And if you do nothing else... follow this one tip.
Too often taxes paid during retirement are too high simply because tax planning is not understood. Here is a simple way to ensure your clients are ahead of the game...and the tax man!
Beginning in 2020, nonemployee compensation must now be reported on 1099-NEC. While the 1099-MISC does not go away, using the wrong form is going to cause problems. This video can help clarify the inevitable confusion.
Most of the time Head of Household is easy to use, but when it is in contention, it wastes time, creates confusion and ultimately loses a potentially lower tax.
Want a larger monthly check from Social Security? Here's how.
Your unearned income is ripe for overpaying income tax. But not if you understand what to look for and ask questions
Your clients' understanding of Kiddie Tax can be a long-term tax savings tool. It can also be a huge, unpopular tax surprise. This video can help create understanding.
Deep within the pages of a government funding bill are changes to popular retirement plan rules. Here is what your clients will need to know.
The worst news you can give a client is a surprising tax bill. This video helps head off 4 of the most common areas of tax surprises faced by most clients.
Most clients do not realize the tremendous tax burden that occurs during their retirement years. This video gives four key areas where they could use your help.
Lost in the noise of refunds or a tax bill when filing a tax return is the true tax paid by your clients. Understanding how to calculate the effective tax rate based on the amount of tax actually paid, is the starting point for developing tax reduction strategies for all your clients.
Tired of explaining the difference between a tax credit and a deduction? This enjoyable, light hearted, video clarifies the difference in a very memorable way!
Use this video to help your clients understand what the marginal tax rate is and how they can use it to their advantage.
The opportunities for tax free income are pretty limited. With the advent of easy web-based rental tools, everyone should know about this one!
Too often, businesses make unwitting mistakes that are paid for when the IRS scrutinizes their taxes and business practices. The good news? The IRS is up front with you on what is in their audit focus. Now there is a video that helps you communicate this with your valued small business clients.
Here's a video your clients should view each year. These 5 topics are sure to catch the unwary taxpayer, but with a quick review it can save both you AND your client time and money.
Clients need to be fully aware of their documentation obligations. Mess up here and you lose lots of time and sleep trying to explain why the IRS disallowed a deduction.
This video takes an in-depth look at the new rules surrounding itemized deductions.
Helps clients understand what is needed to document and defend their deductions.
Help clients learn how the recent changes to the Child Tax Credit affect them.
Sometimes the best defense in an audit is knowing how to prepare. Here are some great client ideas.
Deep inside a 5,500 plus page bill is additional relief due to the ongoing pandemic. Here is what you need to know.
There is a ton of COVID-19 assistance, but only if you know about it. Here is a great place to start.
Help your business manage through the coronavirus pandemic with these five essentials.
Both companies and employees benefit from this new law when staying home because of coronavirus situations.
An executive order allows employers to stop withholding employee Social Security through the end of 2020. But as it stands, employees must pay it back in early 2021. Clients need to check their paycheck!
Non-cash donations can really reduce a client's tax obligation, but only if they know the rules.
You can begin taking Social Security Retirement benefits from age 62 to age 70. When should your clients start? Every situation is different and this TaxVid tries to help.
How long do I keep this? This video describes the Federal recordkeeping guidelines.
Clients overlook tax deductions. Here are five things every client should know.
Use this video to keep your clients on course and explain the Tax Cuts and Jobs Act changes in more depth.
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Each video is under a minute and addresses some big life events and how they affect taxes.
Help clients understand the tax impacts of getting married.
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