Blog – Page 10 – Stephen T. Evans, CPA, PA

President Trump Signs Executive Orders to Extend Unemployment, Defer Payroll Taxes

President Donald Trump announced four executive actions on Saturday, including continued expanded unemployment benefits and a temporary payroll tax deferral for some workers, as the coronavirus pandemic continues to hobble the U.S. economy. Trump also ordered continued eviction protection and student-loan relief. The moves could jeopardize negotiations with congressional Democrats over an additional coronavirus relief [...]

By Steve Evans|2020-08-10T13:52:22+00:00August 10th, 2020|Personal Finance|0 Comments

Pandemic teleworking causes state tax withholding issues

A half-century ago, tax withholding was one of the simpler issues for taxpayers and practitioners. A more mobile society makes state tax withholding more complicated today given the ease of conducting cross-jurisdictional business and the increase in teleworking or remote work arrangements. Meanwhile, the web of inconsistent state and local income tax and withholding rules [...]

By Steve Evans|2020-07-27T17:46:26+00:00July 27th, 2020|Business Finance|0 Comments

IRS updates annual Dirty Dozen tax schemes for 2020

The IRS on Thursday issued its “Dirty Dozen” tax scams for 2020, pointing out that it was placing special emphasis on aggressive and evolving schemes related to coronavirus tax relief, including economic impact payments (IR-2020-160). “Tax scams tend to rise during tax season or during times of crisis, and scam artists are using pandemic to [...]

By Steve Evans|2020-07-20T15:02:29+00:00July 20th, 2020|Personal Finance|0 Comments

Myrtle Beach approves requiring face masks in public places

The City of Myrtle Beach has passed an emergency ordinance requiring face masks in public, which will go into effect just in time for the busy July 4 holiday weekend. Myrtle Beach approves requiring face masks in public places The council approved the measure Thursday morning. It triggers at 12 a.m. Friday morning, the day [...]

By Steve Evans|2020-07-06T13:38:51+00:00July 6th, 2020|Uncategorized|0 Comments

Tax Benefits to Renting Rather than Selling a Vacation Home

Got a vacation home? There’s a big tax break if you rent it out—but a potential hit if you sell. First, the break: Long-standing rules allow owners of vacation homes to rent out their cottages or condos, pocket the rent checks and completely sidestep taxes on the rental income. I’ll use owner Olivia to illustrate [...]

By Steve Evans|2020-06-29T14:52:46+00:00June 29th, 2020|Personal Finance|0 Comments

Board Approves Budget

June 19, 2020 Board Approves Budget Today, the University of South Carolina’s Board of Trustees approved the University's budget plan for the upcoming fiscal year, which includes freezing tuition system wide while implementing a series of cost-saving measures to prepare for the impact of COVID-19. “The budget outlook before us is more serious than any the university [...]

By Steve Evans|2020-06-22T15:13:39+00:00June 22nd, 2020|Personal Finance|0 Comments

COVID-19: How to reopen and keep employees safe

Pausing business operations may have stretched companies in 2020, but reopening is proving challenging in its own right. Public health leaders, governments, and businesses are considering phased reopening as their countries pass peaks of COVID-19’s initial wave, but 44% of businesses polled in a Gartner survey were unsure how a return to work will play [...]

By Steve Evans|2020-06-08T14:16:58+00:00June 8th, 2020|Business Finance|0 Comments

PPP forgiveness guidance issued as Congress mulls changes

Treasury and the U.S. Small Business Administration (SBA) released new Paycheck Protection Program (PPP) guidance Friday night that provided some clarity on several loan forgiveness questions but didn’t address the two parts of PPP that arguably have generated the most concerns among the millions of small businesses and other entities that have received funding. Two [...]

By Steve Evans|2020-05-26T14:43:29+00:00May 26th, 2020|Business Finance|0 Comments

How will your company recover after COVID-19?

The economic impact of the coronavirus pandemic came so quickly and hit so hard that companies worldwide are trying to stabilise their business to the point where they can recover. When Deloitte surveyed CEOs, senior managers, and HR leaders in China, which was affected by the coronavirus first, 66% said they were unable to serve [...]

By Steve Evans|2020-05-18T14:10:08+00:00May 18th, 2020|Business Finance|0 Comments

Taxpayers must act soon for direct deposit of stimulus payments

The IRS announced Friday that time is running out for taxpayers to go to the Get My Payment website to enter their direct deposit information in order to receive an electronic economic impact payment (IR-2020-92). Taxpayers must enter their bank account information, if needed, by noon on Wednesday, May 13. After that date, any stimulus payments that [...]

By Steve Evans|2020-05-11T13:48:33+00:00May 11th, 2020|Personal Finance|0 Comments