August 2020 - AFSG Consulting

Unemployment compensation is taxable; have tax withheld now and avoid a tax-time surprise
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Unemployment compensation is taxable; have tax withheld now and avoid a tax-time surprise

Coronavirus, Employees, Employees & Independent Contractors, Individual Income Tax, Penalties and Interest, Tax Payments

Unemployment compensation is taxable; have tax withheld now and avoid a tax-time surprise

By Lauryn Charles|2020-08-25T14:40:18-04:00August 25th, 2020|Coronavirus, Employees, Employees & Independent Contractors, Individual Income Tax, Penalties and Interest, Tax Payments|

IRS.gov IR-2020-185, August 18, 2020 WASHINGTON — With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation that they can have tax withheld from their benefits now to help avoid owing taxes on this income [...]

Did You Receive $500 per Child Stimulus Payment?

By Lauryn Charles|2020-08-14T14:27:29-04:00August 14th, 2020|Coronavirus, Individual Income Tax, Parents and Children|

Issue Number: IR-2020-180 IRS.gov IRS takes new steps to ensure people with children receive $500 [...]

Working from Home? Here’s what you should know about the home office deduction

By Lauryn Charles|2020-08-06T15:26:30-04:00August 6th, 2020|Business Start-Ups and Closures, Coronavirus, Corporate Income Tax, Employees & Independent Contractors, Home Owners|

Source: Tax Tip 2020-98: Here’s what taxpayers need to know about the home office deduction www.irs.gov Here’s what taxpayers need to know about the home office deduction The home office deduction allows qualifying taxpayers to deduct certain home expenses on their tax return. With more people working from home [...]