Tax Bites Archives - BeachFleischman CPAs

Why it’s important to plan for income taxes as part of your estate plan

September 30, 2020 Tax Department Estates & Trusts, Tax Bites estate planning, estate tax exemption

With the federal estate tax exemption so large, you may not be worried about estate taxes anymore. But it’s a good time to focus on saving income taxes for your heirs.

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 22, 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 September 19, 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[ … ]

Latest PPP FAQ Document Provides Clarity on Some Aspects of Forgiveness

August 12, 2020 September 22, 2020 Dave Iaconis and CariAnn Todd COVID-19, Tax Bites COVID-19, loan forgiveness, payroll costs, PPP, SBA

The Small Business Administration (SBA) and Treasury released an updated Paycheck Protection Program (PPP) FAQ on Aug. 4 in an effort to address PPP loan forgiveness issues that have arisen as borrowers begin to complete their applications. The 23 FAQs address various aspects of PPP forgiveness including general loan forgiveness, payroll costs, non-payroll costs, and[ … ]

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.

Why it’s important to plan for income taxes as part of your estate plan

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

Latest PPP FAQ Document Provides Clarity on Some Aspects of Forgiveness

The tax implications of employer-provided life insurance

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