Hobby-Related Loss Deductions Are Disallowed, but Don’t Give Up Hope

February 13, 2020

Let’s say you have an unincorporated sideline activity that you think of as a business, including an activity involving horses. If you have a net loss (deductible expenses exceed revenue) on that activity and you think you can deduct that loss on your personal federal income tax return, think again!

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Congress Approves New Disaster-Area Tax Relief

February 13, 2020

A flurry of tax legislation passed at the end of 2019 as part of an omnibus spending package. You might have already heard about changes to the retirement plan rules and tax extenders that were part of this package.

However, there are some lesser-known changes that you might not know about. Specifically, the disaster-related provisions of the Taxpayer Certainty and Disaster Tax Relief Act provide valuable relief to taxpayers affected by federally declared disasters that happened between January 1, 2018, and January 19, 2020.

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10 Tax Elections to Save Money on Your 2019 Return

February 13, 2020

2020 is a presidential election year. You’ll have an opportunity to cast a vote for your favored presidential candidate in November, but you can make several other key “elections” this year when filing your 2019 tax return. These elections may be influenced by the Tax Cuts and Jobs Act (TCJA), as well as the year-end spending package that was signed late last year. 

Here are ten important choices that individuals and small business owners can make this tax season.

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Improve Your Construction Firm’s Chance of Winning a Bid

February 11, 2020

Like the saying “You gotta be in it to win it,” many construction firm owners submit many bids for local jobs to be in it.

But to thrive and survive, you need to do more than just be in the bidding process. Your firm must be able to submit bids that have a reasonable chance of approval. And your firm must win often enough to thrive.

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Five Issues to Consider When Making Charitable Donations

February 11, 2020

Do you plan on making contributions to charity this year? If you’re in a giving mood, you may be rewarded with sizeable charitable deductions on your tax return. But the tax law is fraught with numerous twists and turns, so you must be careful to navigate the rules.

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Is Your Family Medical Leave Policy Up-to-Date?

February 11, 2020

The Administrator of the Department of Labor’s Wage and Hour Division (WHD) periodically responds to new Family Medical leave Act (FMLA) compliance questions from employers and employees. Notable ones are posted for the benefit of people facing similar situations. Here’s a sampling.

A recent case deals with whether an employee’s time away from work to attend regular meetings at her children’s school qualifies as FMLA-sanctioned leave. The meetings were with school officials to discuss the special needs of the children and appropriate “individualized education plans.” 

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Age-Related Tax and Financial Planning Milestones

February 11, 2020

In an era of uncertainty, you can count on one thing: Time marches on. While you can’t beat Father Time, you can prepare for these age-related tax and financial planning milestones as you and your loved ones grow older.

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Job Posting – Finance Consultant

February 6, 2020

Ryan and Wetmore, P.C. in Bethesda, Maryland needs a qualified Finance Consultant to perform the following job duties: PROVIDING MERGERS & ACQUISITIONS SUPPORT, INCLUDING SERVICES THROUGHOUT THE ENTIRE PROCESS FROM BUY/SELL DECISIONS AND STRATEGIES, DUE DILIGENCE, CRITICAL TRANSACTION ELEMENTS, CLOSING ASSISTANCE, AND INTEGRATION ACTIVITIES. CONDUCTING COMPREHENSIVE BUSINESS PLANNING TO ACHIEVE SHORT- AND LONG-TERM GOALS. IMPLEMENTING CORPORATE OPERATIONAL ASSESSMENTS AND PROCESS IMPROVEMENTS. FINANCIAL ANALYSIS AND DOCUMENT REVIEW TO SUPPORT LITIGATION SERVICES. PROVIDING FINANCIAL MANAGEMENT INFORMATION BY PREPARING ADVANCED FINANCIAL STATUS ANALYSES AND WRITTEN REPORTS. COMMUNICATING WITH CLIENTS TO DISCUSS FINANCIAL AND OPERATIONAL GOALS; EXPLAIN PROPOSED BUSINESS PLANS AND OPTIONS; EXPLAIN ADVANTAGES AND RISKS; AND ANSWER QUESTIONS. MONITORING CLIENTS’ FINANCIAL SITUATION BY TRACKING CHANGES IN WEALTH AND LIFE CIRCUMSTANCES; ANALYZING FINANCIAL PLAN RESULTS; IDENTIFYING AND EVALUATING NEW FINANCIAL STRATEGIES; RECOMMENDING CHANGES IN GOALS AND PLANS. ACCOMPLISHING ORGANIZATIONAL GOALS BY ACCEPTING OWNERSHIP FOR NEW AND VARIED PROJECTS; EXPLORING OPPORTUNITIES TO ADD VALUE TO JOB ACCOMPLISHMENTS. UPDATING JOB KNOWLEDGE BY TRACKING INDUSTRY-SPECIFIC ECONOMIC CONDITIONS; PARTICIPATING IN EDUCATIONAL OPPORTUNITIES; READING PROFESSIONAL AND TECHNICAL PUBLICATIONS; MAINTAINING PERSONAL NETWORKS; PARTICIPATING IN PROFESSIONAL ORGANIZATIONS. CONFIDENTIALITY OF FIRM AND CLIENT INFORMATION IS CRITICAL.  Requirements: Master’s in Finance, Accounting or Economics plus one year of experience in job offered or one year of experience as an investment analyst. Experience in job offered or related field must include the following:  Experience with financial products and investment strategies. 40hour work week. Applicants contact: Traci Getz, Partner: 301-668-7860.

TIIIS NOTICE IS BEING POSTED IN CONNECTION WITH THE FILING OF AN APPLICATION FOR PERMANENT ALIEN LABOR CERTIFICATION. ALL APPLICANTS SHOULD REPORT DIRECTLY TO TRACI GETZ. ANY PERSON MAY PROVIDE DOCUMENTARY EVIDENCE BEARING ON THE APPLICATION TO THE NATIONAL PROCESSING CENTER. INCLUDE THE FOLLOWING ADDRESS:

UN ITED STATES DEPARTMENT OF LABOR EMPLOYMENT AND TRAINING ADMIN IST RAT IO N ATLANTA NATIONAL PROCESSING CENTER HARRIS TOWER

233 PEACHTREE STREET. SUITE 410

ATLANTA. GA 30303

TELEPHONE: (404) 893-0101

FAX: (404) 893-4642

Breaking the Cycle of Broken Appointments

February 4, 2020

Awkward. That’s likely the word that comes to mind when you or members of your staff think about confronting patients who have a habit of arriving late — or not at all. Discussing a patient’s penchant for no-shows takes a bit of fancy footwork at the very least. Mishandle the situation and you may lose a loyal patient.

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Facing a HIPAA Audit

February 4, 2020

Early in the history of the Health Insurance Portability and Accountability Act (HIPAA), violations typically involved receiving a warning letter from the Department of Health and Human Services (HHS). It was basically toothless and carried no penalties. In 2009, Congress passed the Health Information Technology for Economic and Clinical Health Act (HITECH), which supplied the government with a range of tools to support enforcement. In short, HIPAA grew fangs.

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