Tax Department's articles on BeachFleischman CPAs

Tax implications of working from home and collecting unemployment

September 16, 2020 September 15, 2020 Tax Department COVID-19, Tax Bites CARES, COVID-19, deductible expenses, unemployment, working from home

Have you lost your job and collecting unemployment? Or are you fortunate to be working from home because of the pandemic? Both of these situations could have tax implications.

Back-to-school tax breaks on the books

September 1, 2020 September 2, 2020 Tax Department Tax Bites higher education, tax credits, TCJA, tuition

Back to school in the COVID-19 era may mean remote learning for your college student. But parents may be able to take advantage of one of these tax breaks for their education expenses.

What happens if an individual can’t pay taxes

August 19, 2020 August 18, 2020 Tax Department Tax Bites failure to file, tax filing status, tax penalties

Tax liabilities don’t go away if left unaddressed. Here’s a look at what happens in the event you (or someone you know) can’t pay taxes on time.

Arizona Tax Credit Alert 2020

August 17, 2020 Tax Department Tax Bites arizona, tax credits, tax savings

The Arizona legislature has retained and expanded some of the incentives for charitable giving for 2020. This alert explains the credits for individuals only. The dollar limits differ depending on marital status. Your payments will make a positive impact on the recipient organization, while at the same time reducing your Arizona income tax liability dollar[ … ]

The tax implications of employer-provided life insurance

August 4, 2020 Tax Department Tax Bites life insurance, phantom income, tax implications

Employer-provided group term life insurance can be a nice employee benefit. But depending on the amount of coverage, it may cause an unwanted tax result. Here’s why.

Are scholarships tax-free or taxable?

July 30, 2020 Tax Department Tax Bites academic awards, scholarships, taxable income

Scholarships are generally tax-free but there are times when academic awards result in taxable income.

Take advantage of a “stepped-up basis” when you inherit property

July 21, 2020 July 31, 2020 Tax Department Estates & Trusts, Tax Bites estate assets, estate planning, estate tax, tax saving strategies

If you’ve inherited assets or you’re planning your estate, it’s crucial to understand the fair market value basis rules (also known as the “step-up and step-down” rules). That way, you won’t pay more tax than you’re legally required to.

Businesses: Get ready for the new Form 1099-NEC

July 15, 2020 Tax Department Tax Bites compliance, Form 1099-NEC, NEC, nonemployee compensation

A tax form that used to be filed back in the 1980s is coming back for 2020. Here’s what businesses need to know.

Tax implications of working from home and collecting unemployment

Back-to-school tax breaks on the books

What happens if an individual can’t pay taxes

Arizona Tax Credit Alert 2020

The tax implications of employer-provided life insurance

Are scholarships tax-free or taxable?

Take advantage of a “stepped-up basis” when you inherit property

Businesses: Get ready for the new Form 1099-NEC

Author: Tax Department

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