In spite of (or in some cases, because of) the COVID-19 pandemic, and with near-record-low home mortgage interest rates, the housing market has been booming. September 2020 existing home sales were up 9.4% from August 2020 and 20.9% from 2019, according to the National Association of Realtors. If you sold your home this year or […]
As every year at CRV we organize update conferences on Tax Reforms for our collaborators, clients and partners Date And Time Mon, Jan 18, 2021 17:00 – 20:00 GMT About this event Speaker CP AND MI Jorge Velázquez Ávalos Managing Partner of the tax area of the firm CRV & Co. He is a Public Accountant […]
Low- and moderate-income workers can take steps to save for retirement and earn a special tax credit. The saver’s credit, also called the retirement savings credit, helps offset part of the first $2,000 workers voluntarily contribute to traditional or Roth individual retirement arrangements (IRAs), SIMPLE IRAs, SEPs, 401(k) plans, 403(b) plans for employees of public […]
Filing annual wage reports is just one of the many end-of-year responsibilities expected of every business. But the task is not as straightforward as some would think. The reports get sent to the people who have received wages, and at the same time they get filed with the Social Security Administration (SSA) or the Internal […]
One of the more tax-troubling issues this year has been the distribution of what Congress referred to as the recovery rebates. You may know these payments as the Economic Impact Payments (EIPs) or stimulus payments, names that the IRS took the liberty of creating. These payments were meant to provide financial assistance to individuals and […]
This is our annual reminder that if you use workers other than employees to perform services for your business and pay them $600 or more for the year, you are required to issue each one a Form 1099-NEC after the end of the year to avoid facing the loss of the deduction for their labor […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce David Kim of Sejong. David has joined IR as our exclusive Audit & Assurance Services Member in South Korea. On the basis of our people and deep experience in the accounting, payroll, cash management, and tax compliance issues, set forth below is […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Joey Yoon of Sejong. Joey has joined IR as our exclusive Audit & Assurance Services Member in South Korea. On the basis of our people and deep experience in the accounting, payroll, cash management, and tax compliance issues, set forth below is […]
COVID-19 has caused the death of over 300,000 people. There have been nearly 19 million reported cases in the United States. COVID-19 has touched nearly every aspect of the lives of every American. It has even affected finances for most Americans as well, creating waves of economic stress. It will have some tax implications that many […]
After several months of the Republicans and Democrats not being able to agree on additional COVID-related tax relief and other matters, as 2020 was coming to an end, horses were traded, and deals were made so that Congress could put together the much-needed legislation. The result is a nearly 5,600-page omnibus bill, the Consolidated Appropriations […]
It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market value so low that it is impractical and unreasonable to account for it, the gift’s value would be treated as a de minimis fringe benefit. As such, it would […]
Now is a great time for small business owners to think about tax planning strategies, either to close out this year or to prepare for 2021. Here are some examples. Read More