Many people have turned to gig work due to the increase in reduced work hours, furloughs, and job loss caused by the coronavirus pandemic. Unemployment reached a record high in April 2020 of 14.7%. The unemployment rate fell to 8.4% in August 2020. The gig economy is booming. According to GigSmart gig work is on…
While it might seem like tax season just ended, it is never too early to do a “Paycheck Checkup” to make sure the right amount of tax is withheld from earnings – and avoid a tax surprise next year when filing your 2020 tax return. As a reminder, because income taxes operate as a pay-as-you-go…
More people are working from home than ever before, taxpayers may be wondering if they can claim a home office deduction when they file their 2020 tax return next year. Here are some tips to help you understand the home office deduction and determining whether you can claim the home office deduction on your tax…
On August 8th, 2020, the president signed four executive orders have a direct impact on unemployment insurance benefits, evictions, student loans, and payroll taxes. Here’s a Brief Summary Lost Wages Assistance (LWA) Program- The executive order provides federally funded supplemental unemployment benefits of $300 a week and requires the state to cover an additional supplemental payment…