In August, a Presidential Memorandum was issued allowing the deferral of the employee’s portion of Social Security tax withholding, which is 6.2% of wages. This is a deferral, not forgiveness…..
Author: Eric Lee, CPA
Eric has worked in public accounting since 2017. His primary focus is in tax, working with closely-held businesses and individuals. Eric has worked in a wide range of business industries, including: construction and manufacturing. He has worked with business start-ups, ensuring proper entity structure and assisted with federal, state and local compliance for new business owners. In addition, Eric has enjoyed working in international taxation, helping individuals abroad satisfy their U.S. reporting requirements.
Reviving Your Itemized Deduction with Donor-Advised Funds
Itemized deductions are dead. That was the truth for many taxpayers in 2018. The number taxpayers itemizing in 2018 dropped by 88% compared to 2017. A knowledgeable taxpayer will realize, if they are not…