The IRS, acting pursuant to a Presidential Memorandum dated August 8, 2020, issued guidance last Friday on implementation of the deferral of employee Social Security taxes. The deferral period will be September 1-December 31, 2020. READ MORE

This year, U.S. unemployment jumped from a historically low 3.5% in February to 14.7% in April and remained at 10.2% in July. The pandemic-induced spike impacted many long-term employees, especially workers in industries vulnerable to social-distancing mandates. First-time recipients are often surprised to learn that unemployment benefits are taxable. As such, the IRS reminds us, they are. READ MORE

Jarad Hunter, Cincinnati, Ohio financial adviser at JHunter, is dedicated to streamlining your tax accounting processes, freeing your time to focus on business operations. With experienced bookkeeping, payroll, and tax preparation services, you will enjoy more efficient operations and a better understanding of your finances. This objective was the main goal of JHunter’s work with client Legendary Custom Homes. In the first calendar year of working with JHunter, Legendary Custom Homes’ sales increased by more than 90%, and their bright prospects continue. READ MORE