As part of a year-end budget bill, Congress just passed a package of tax provisions that will provide savings for some taxpayers. The White House has announced that President Trump will sign the Further Consolidated Appropriations Act of 2020 into law. It also includes a retirement-related law titled the Setting Every Community Up for Retirement Enhancement (SECURE) Act. Here’s a rundown of some ...

Some fraud schemes refuse to die. Jury duty scams existed long before phishing, malware and other cybercrime methods became synonymous with identity theft. Yet just this month, the U.S. Marshals Service issued a fraud advisory about this old-school con that’s enjoying a resurgence. Common methods Here’s how jury duty scams work: Perpetrators posing as court officers, U.S. Marshals and other memb...

  The number of people engaged in the “gig” or sharing economy has grown in recent years, according to a 2019 IRS report. And there are tax consequences for the people who perform these jobs, such as providing car rides, renting spare bedrooms, delivering food, walking dogs or providing other services. Basically, if you receive income from one of the online platforms offering goods and ...

  Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few strategies, including: 1. Buying assets.Thinking about purchasing new or used heavy vehicles, heavy equipment, machinery or office equipment in the new year? Buy it and place it in service by December 31, and you can deduct 100% of the cost as bo...

  If you devote all your business’s security resources to fending off hackers and other cybercriminals, you may be unlocking the door, literally, to more basic types of theft. “Creepers” are criminals who gain access to offices or other physical facilities via unlocked doors and social engineering tactics. Once in, they steal proprietary information, inventory, computers and personal prope...

  According to various estimates, approximately 25% to 30% of online dating accounts involve scammers. Therefore, if you maintain a dating platform account, you need to know that a significant portion of accounts — including possible “matches” that contact you — belong to fraud perpetrators. Here’s something else you should know: The dating app provider may be using these bad actors to pad...

  Like many employers, you may allow employees to carry over unused vacation pay from one year to the next. With the year winding down, and gift giving on the minds of many, certain staff members might inquire about donating their unused vacation pay to charity. In turn, you may wonder: Is doing so allowed under IRS rules? “Assignment of income” Indeed, it is. For federal tax purpose...