// current events
Are small business exempt from FFCRA?
The Families First Coronavirus Response Act (FFCRA) offers a limited exemption for struggling small businesses. It can be used when such leaves would jeop...
02 Mar 2026 0 views
Current Events
// current events
What is the mortgage interest limitation?
$750,000 Mortgage Interest Deduction Limit Today, the limit is $750,000. That means this tax year, single filers and married couples filing jointly can de...
02 Mar 2026 0 views
// current events
Are out-of-pocket medical expenses taxable?
In 2020, the IRS allows all taxpayers to deduct their total qualified unreimbursed medical care expenses that exceed 7.5% of their adjusted gross income i...
01 Mar 2026 0 views
// current events
Do I have to file taxes if I am over 70?
Since many of those who are age 70 and older earn below the income minimums, it’s common to generalize and say seniors aren’t required to file. No matter ...
01 Mar 2026 0 views
// current events
Is stem OPT 3 years?
In March 2016, the Department of Homeland Security published a final rule changing the OPT extension for STEM students from 17 months to 24 months. Studen...
01 Mar 2026 0 views
// current events
Can you have employees as a sole proprietorship?
You don’t need to change your business structure to hire employees. But even though you can have employees in a sole proprietorship, you might choose to c...
01 Mar 2026 0 views
// current events
How do I report a rent to the IRS?
In most cases, a taxpayer must report all rental income on their tax return. In general, they use Schedule E (Form 1040) to report income and expenses fro...
01 Mar 2026 0 views
// current events
Can a minor be a beneficiary of a trust?
Generally any child who is under the age of 18 years can be the beneficiary of a Minor’s Trust. The trust can have multiple beneficiaries. Can child suppo...
01 Mar 2026 0 views
// current events
What does actively participate mean?
Active participation is a way of working that supports an individual’s right to participate in the activities and relationships of everyday life as indepe...
01 Mar 2026 0 views
// current events
When do you have to file Form 4868 for extension?
You can file your tax return any time before the extension expires. Don’t attach a copy of Form 4868 to your return. Interest You’ll owe interest on any t...
01 Mar 2026 0 views