Economic fallout from the COVID-19 crisis may cause some cash-strapped individuals to default on loans they've taken out from company qualified retirement plans, including 401(k) and profit-sharing plans. Defaulting on a plan loan will cause adverse tax and retirement-saving consequences.…
Purchases of new and used business vehicles may qualify for tax breaks under current tax law. If you need a new vehicle to use for business purposes, review these details before you go shopping. Some vehicles may qualify for bigger…
The second half of 2020 has begun. What steps can small business owners take today to lower taxes for the current tax year? Alternatively, would it make more sense to maximize taxable income this year if you expect higher income…
Today, many people sell homemade products online or work on some unincorporated sideline venture outside of their regular day jobs. Such activities can generate extra spending money. This can be especially helpful for retired people and stay-at-home parents — or…
What happens when an employee quits and you can’t find her to send a final paycheck? What if a customer has a credit balance on an account and you can’t locate him to return it? Or what happens when you…
The Internal Revenue Service and Treasury Department announced new guidance for employers requiring them to report the amount of qualified sick leave and family leave wages they paid to employees under the Families First Coronavirus Response Act on Form W-2.…
The tax filing deadline for 2019 tax returns has been extended until July 15 this year, due to the COVID-19 pandemic. After your 2019 tax return has been successfully filed with the IRS, there may still be some issues to…
We want to update you on our back-to-work and office closure policy as of July 1, 2020. Our Overland Park and Topeka offices will remain closed to clients through August 3. Our employees are returning to our offices in a…
Andrew Spikes talks with Accounting Today reporters about how Mize CPAs has leveraged RPA (Robotic Process Automation) to save the firm over 2,500 within the first year, allowing professionals to focus more time and energy helping clients. You can read…
How can restaurant owners leverage their lease agreements during a pandemic? Alex Gray of Mize CPAs offers suggestions for owners to consider when looking at lease agreements. https://www.bisnow.com/national/news/retail/how-the-pandemic-might-reshape-restaurant-leases-104891