COVID-19 Grants: Taxable or Not?
Billions of dollars in grants are being doled out to individuals and businesses in the wake of the COVID-19 pandemic. [...]
Bharmal & Associates, Inc. Receives First Reviews on Clutch, Maintains Perfect 5.0-Star Average on the Platform
We’re no ordinary accounting firm here at Bharmal & Associates, Inc.! With years of experience as a professional service organization, [...]
Changes to RMD Laws Due to COVID-19
Due to the COVID-19 pandemic, Congress made changes to the tax law related to retirement account distributions. The changes open [...]
Tax Advantages of Hiring Your Children
The COVID-19 pandemic may create tax benefit opportunities for you and your family members. For example, you could hire your [...]
Congress Released These Dead Tax Provisions
Congress let many tax provisions expire on December 31, 2017, making them dead for your already- filed 2018 tax returns. [...]
What Can You Do To Compensate For the Loss of Alimony Deductions?
The Tax Cuts and Jobs Act (TCJA) permanently eliminated federal income tax deductions for alimony payments required by divorce agreements [...]
2019 Last Minute Tax Planning for Your Family
2019 Last Minute Tax Planning for Your Family If you are thinking of getting married or divorced, you need to [...]
IRS Limiting Residential Solar Credit
Here’s an important point to know about the solar credit. The 30 percent residential solar credit drops to 26 percent [...]
Fraudulent Form 1099s
Here’s a true story from the IRS. To put the story in context, we are putting you in the driver’s [...]
Tax Deductions for Sponsoring a Sports Team
Have you wondered what it takes to deduct the costs of sponsoring a sports team? What if you play on [...]