For non-employee compensation paid during 2020, payers must provide Form 1099-NEC (instead of Form 1099-MISC) to the recipients and to the IRS no later than January 31, 2021.
8/19 WEBINAR: 2020 Retirement Plan Update – COVID-19 Edition
Join us for our next webinar with a special guest presentation from our colleague at Holland & Hart, Ben Gibbons. In this presentation, Ben will discuss the latest retirement plan-related COVID-19 guidance and how it impacts plan sponsors and their retirement plans. Ben Gibbons is an associate at Holland & Hart and counsels employers on a broad range of qualified retirement …
PPP Forgiveness Changes Passed as Trump Signs Bill
In another win for small businesses, they now have an extended period of time to spend PPP funds and still qualify for forgiveness of the loans.
Determining Real Estate & Construction’s Coronavirus Risk: A Checklist for Industry Leaders
Ascertaining lost revenue and income stemming from these extraordinary circumstances is key to minimizing the financial consequences of this pandemic.
Tax Implications & Benefits Of Holding Rental Property
Whether you convert your main residence to a rental property or buy a property to be held as a rental, there are several tax considerations to be aware of.
Rental Real Estate and the QBI Deduction
One of the most difficult issues for purposes of determining the amount of the deduction is determining what qualifies as trade or business income under Code section 199A. This article points out key factors that can help you and your business analyze your income to properly take full advantage of this new tax provision.
AnchorPoint Accounting and Clark Anderson McNelis & Co. Joins Harris CPAs
Harris CPAs has announced a merger with AnchorPoint Accounting of Boise, Idaho and Clark Anderson McNelis & Co. of Coeur d’Alene, effective January 1, 2020. The mergers adds a total of 11 professionals to Harris CPAs Meridian and Coeur d’Alene offices.
Which Method of Accounting is Right For Land Developers?
Land developers have three methods of accounting to choose from. It is important to understand the tax implications of each one before deciding which method works best for you.
Deferring Capital Gains Through a 1031 Exchange
A 1031 exchange allows the taxpayer to sell a piece of property and purchase another “like-Kind” piece of property without depleting the cash flow from the sale due to capital gains tax. But the rules can be complex.
Tax Tips Every Realtor Needs to Know In Their First Year
Now that you have become a realtor, you are considered self- employed for tax purposes and you should approach this like any business venture. This means that it is now time to keep track of your income and expenses to track the monetary success (and failures) of your new business.
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