New IRS guidance expands the possibilities for what is an adverse COVID-19 impact on you for purposes of taking up to $100,000 out of your retirement accounts and repaying it without penalties. First, let’s look at the rules as they existed before this new IRS...
The COVID-19 pandemic may create tax benefit opportunities for you and your family members. For example, you could hire your under-age-18 children, pay them, say, $10,000 each, and they could pay zero federal income taxes. And you or your corporation, the employer,...
Tags: Virtual CFO, Virtual CFO Services, Role of CFO, Outsourced CFO, Outsourced CFO Services It’s no secret that the COVID-19 pandemic has drastically reshaped the way that most companies operate. Working remotely is now a norm— even for businesses that never...
If the federal tax you pay is dependent on where you are physically located, then COVID-19 likely has thrown a wrench in your physical tax location (and tax situation). If you were living abroad and had to return to the U.S. because of COVID-19, you may wonder if...
Tags: Virtual CFO, Virtual CFO Services, Role of CFO, Outsourced CFO, Outsourced CFO Services According to research, the number one task that business owners and entrepreneurs dread the most is bookkeeping. Most of us don’t open businesses to bury our heads in...
