Tax Strategies

Tucked in among more than 5,000 pages of legislative text, the congressional bill providing COVID-19 relief and 2021 government funding includes dozens of tax breaks for beneficiaries ranging from downtown restaurants and the film industry to motor-sports racetracks.

Greg Engel is anticipating another year of tumultuous changes as clients deal with the coronavirus pandemic and new policies from the incoming Biden administration.

Small business owners who got Paycheck Protection Program loans could qualify for big write-offs from their rescue money, amounting to what Treasury Secretary Steven Mnuchin has called a tax-break “double dip.”

The holiday season reminds us to savor time with family and friends, because with the new year, the tax season jumpstarts.

The House and Senate are set to vote Monday on $900 billion in pandemic relief aimed at boosting the U.S. economy into the early spring, combined with $1.4 trillion to fund regular government operations for the rest of the fiscal year.

Among other things, an evenly divided Senate represents a significant hurdle.

What Congress, clients and others did this year, and how it will impact next year.

The Internal Revenue Service is beefing up its controls to safeguard against improper self-employed retirement deductions, according to a new report.

Here are some obvious and not-so-obvious year-end tax tips to consider as we prepare ourselves and our clients for the new year.

The twin dynamics of expiring relief and a transition to a new presidential administration are making the end of 2020 a turbo-charged version of the usual rush to lock in tax reductions.