2020 Tax Planning
Have you looked into your 2020 tax planning recently?
Individuals, do you:
– understand continuing impact of tax law changes related to past tax reform?
– know your required Q4 2020 estimated taxes due on January 15, 2021?
– take advantage of tax benefits for education, insurance, and retirement?
– want to convert (or unconvert) Roth IRAs?
Businesses, do you:
– understand 20% business income tax deduction?
– need to set-up retirement plans or required payroll?
– know your cash flow needs?
Please contact us to review your 2020 tax planning opportunities.
Goloboy CPA LLC team
Newsletter
Telecommuting Employees: Are Your Home Office Expenses Deductible?
If you are an employee who telecommutes, you may be eligible to deduct some of your home office expenses. But you must first comply with certain rules.
Employer’s Convenience
The first requirement is that your use of the home office be for the convenience of your employer. You may be able to satisfy this test if your employer requires you to have a home office and to work there, if the home office is necessary for the operation of your employer’s business, or if the home office allows you to perform your work duties properly. You will not be able to satisfy this requirement if the home office is for your own convenience
Online Payment