My First Podcast Interview
I recently had the honor of being interviewed by Mark Goldman for his podcast Where Accountants Go. It is a weekly national podcast geared toward college students and young accountants to give career advice. I was picked because of my position with ADKF as Director of Tax Controversy, but I was asked to talk about […]
How Long Should You Keep Those Old Tax Returns?
Its January! One of my first new year tasks each year is to clean out my files and one of my New Years resolutions every year is to be more organized for the coming year. Easier said than done, right? Inevitably, I find myself needing something Ive shredded already and at the end of the […]
Start 2021 On Sound Financial Ground
A new year and a new start to your goals. Follow these helpful tips to get your year started on a sound foundation. REVIEW YOUR SPENDING PLAN Look back on your spending for 2020 and see which areas you need to adjust for 2021. At the same time review your financial goals and make sure […]
Effects of Tariffs on America Looking Forward
Has President Trumps trade war helped or hurt the American economy? What does the Biden administration plan to do about the tariffs imposed during the Trump administration? While we can look back and assess the effects of the trade war, a forward-looking plan is unclear. Biden has not specifically addressed the Trump tariffs, although he […]
The Stars Have Aligned: Congress Passes $900 Billion COVID-19 Relief Bill
Just as Jupiter and Saturn converged on the evening of December 21, the House and Senate likewise converged and passed a $900 billion COVID-19 relief bill right before midnight with assurances from President Trump that he would sign the bill the following day. Fast forward to late Sunday, December 27th, and President Trump has finally […]
Unemployment, Side Gigs, and Tax
The pandemic has been front and center most of this year and it may have tax implications for you. If you collected unemployment compensation from either your state or the federal government, it is all taxable as ordinary income. You will receive a Form 1099-G by January 31 that shows you how much compensation you […]
December 2020 Short Bits
OVERTIME UPDATE Earlier this year, the U.S. Department of Labor adjusted their rule on who is eligible for overtime pay. The new rule updates earnings thresholds required to make executive, administrative and professional employees exempt from overtime. These employees will now need to earn at least $684 per week as a salaried employee and a […]
December 2020 Question and Answer
Question Leslie relocated in 2020 for a job opportunity. Her new employer didnt provide any financial assistance for the move. Can she deduct any of her moving expenses from her tax return? Answer Unfortunately, due to the Tax Cuts and Jobs Act, moving expenses are no longer tax deductible. The only exception is for members […]
Leadership Lab
In December 2019, I applied to be a part of the North San Antonio Chambers Leadership Lab Program. Leadership Lab is the North Chambers award-winning leadership and professional development program. Every year, a class of up to 100 professionals (from varying industries) apply to become a part of a nine-month training program that focuses on […]
Summary Of The Consolidated Appropriations Act, 2021
Late on Monday, December 21, 2020, Congress announced they reached an agreement on a new $900 billion stimulus package. President Trump is expected to sign the act into law on Tuesday. The Act not only extends unemployment benefits and another round of PPP (Payroll Protection Program) loans, but also has many sections impacting individual taxpayers […]