• 2019 IRS Payments & 2020 estimates DELAYED – Filing dates not changed

    March 18, 2020 The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns remains April 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can’t…

  • SEP for 2020

    In 2020 the MAX SEP is changed to 20% of earned income up to max of $57,000. […]Read More… from SEP for 2020

  • CAPITAL LEASE v TRUE LEASE

    There are two kind of leases. Let’s say you “lease” a copier for three years. Sales tax is paid (per Florida lease rules) and at the end of the three years you can buy it for one dollar. That is called a CAPITAL LEASE. It is really just another form of financing. In that case…

  • Mileage Deduction 2020

    The 2020 standard mileage rate for business driving falls to 57.5¢ a mile. The mileage allowance for medical travel and military moves declines to 17¢ a mile in 2020. But the charitable driving rate stays put at 14¢ a mile. It’s fixed by law. […]Read More… from Mileage Deduction 2020

  • Medical Device Tax – GONE as is Cadillac penalty

    Two Obamacare excise taxes are gone for good: The 2.3% medical device tax and the 40% tax on employer-sponsored “Cadillac” health insurance plans. […]Read More… from Medical Device Tax – GONE as is Cadillac penalty

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