We’re extremely dog-friendly here at Nissen & Associates, and our friendly office greeters would like to prove it. Our furry friends often keep us company while we work, so you may encounter one of our three resident “office greeters’ on your next visit. If you prefer not to be greeted at the door by one …
Tax Blog
Increased Business Meal Deductions for 2021 and 2022
With increased business meal deductions for 2021 and 2022, the business lunch is back! If you recall, the Tax Cuts and Jobs Act (TCJA) eliminated the business-related deduction for entertainment, amusement or recreation expenses. However, it retained a deduction for business meals when the expense is ordinary and not extravagant. Especially when a business meal …
Increased Business Meal Deductions for 2021 and 2022Read More
Standard Mileage Rates for 2021 Just Announced
Recently, the IRS announced the standard mileage rates for 2021 which outlines the use of a vehicle for business, medical and moving purposes. This baseline is based on a number of factors in order to determine the standard mileage rates for the following year. Recently, the IRS announced the 2021 optional standard mileage rates. Thus, …
What Are the Tax Advantages of Home Ownership?
Housing is a big expense, but there are a few tax advantages of home ownership that tip the scale towards owning over renting. However, home ownership often means financing in order to make that major purchase a reality. Despite the cost, as of November 2020, the nationwide average for a 30-year fixed-rate mortgage was just …
How to Address Rising Tax Problems During COVID-19
If you’re looking to address rising tax problems during COVID-19, you are not alone. COVID-19 has caused the death of over 300,000 people. And there have been nearly 19 million reported cases in the United States. Consequently, COVID-19 has touched nearly every aspect of the lives of people worldwide. This is to say nothing about creating …
It Passed! What’s In The New COVID Relief Law?
Stimulus checks are just a small part of it the new COVID relief law. To sum up, this includes more unemployment help, EIDL loans, PPP, Employee Retention Credit, EIC, CTC, Eviction moratorium, and much more. After several months of not being able to agree on additional COVID-related tax relief, Congress finally finalized the much-needed legislation. …
Saver’s Credit Can Help You Save For Retirement
The saver’s credit helps eligible taxpayers offset the cost of saving for retirement. Now, low and moderate income workers can take steps to save for retirement and earn a special tax credit. What is the saver’s credit? The saver’s credit is a tax credit worth up to $1000 ($2,000 if married filing jointly). The saver’s …
Video: COVID Tax Relief Act Is Coming
After months of political bickering, Congress is finally passing a new COVID Tax Relief Act. Watch this video for a summary of what you can expect from this tax relief package.
Help is on The Way – Emergency Coronavirus Relief Agreement Reached
After months of political bickering, Congress has reached an agreement on an emergency coronavirus relief bill. Although not all the details are fully available yet, the following provides a good overview of the provisions affecting individual taxpayers and small businesses. Emergency coronavirus relief provisions Stimulus Payments Eligible adults will receive a $600 stimulus payment. This …
Help is on The Way – Emergency Coronavirus Relief Agreement ReachedRead More
