BDK Advisors – CPAs https://bdkadvisors.com/ The Trusted Accounting and Tax Advisors Thu, 18 Feb 2021 17:55:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://i0.wp.com/bdkadvisors.com/wp-content/uploads/2020/08/5.png?fit=32%2C32&ssl=1 BDK Advisors – CPAs https://bdkadvisors.com/ 32 32 184780915 Taxpayers must report gig income https://bdkadvisors.com/gig-taxable/?utm_source=rss&utm_medium=rss&utm_campaign=gig-taxable https://bdkadvisors.com/gig-taxable/#respond Thu, 18 Feb 2021 17:55:49 +0000 https://bdkadvisors.com/?p=2897 Issue Number: COVID Tax Tip 2021-21 In 2020, many people joined the gig economy to help make ends meet during the pandemic. Whether it’s a side business or a primary source of income, all taxpayers need to understand how their gig work affects their taxes. The bottom line is taxpayers must report gig economy income on […]

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]]> https://bdkadvisors.com/gig-taxable/feed/ 0 2897 Most taxpayers can deduct up to $300 in charitable contributions without itemizing deductions https://bdkadvisors.com/deduct-charitable-contributions-2020/?utm_source=rss&utm_medium=rss&utm_campaign=deduct-charitable-contributions-2020 https://bdkadvisors.com/deduct-charitable-contributions-2020/#respond Mon, 14 Dec 2020 21:42:21 +0000 https://bdkadvisors.com/?p=2855 Issue Number: COVID Tax Tip 2020-170 Following tax law changes, cash donations of up to $300 made this year by December 31, 2020 are now deductible without having to itemize when people file their taxes in 2021. The Coronavirus Aid, Relief and Economic Security Act includes several temporary tax law changes to help charities. This […]

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]]> https://bdkadvisors.com/deduct-charitable-contributions-2020/feed/ 0 2855 8 Pitfalls to avoid when settling your own IRS tax debt https://bdkadvisors.com/8-pitfalls-to-avoid/?utm_source=rss&utm_medium=rss&utm_campaign=8-pitfalls-to-avoid https://bdkadvisors.com/8-pitfalls-to-avoid/#respond Sat, 12 Dec 2020 10:40:00 +0000 https://bdkadvisors.com/?p=2853 As an avid DIY’er myself, I respect your right to handle your tax resolution matters yourself and truly wish you the best of luck on your journey. If you have chosen this path I would like to take a moment to remind you of a few important facts and issues that may arise to help […]

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]]> https://bdkadvisors.com/8-pitfalls-to-avoid/feed/ 0 2853 8 questions to ask before paying any tax resolution firm a penny https://bdkadvisors.com/8-questions-to-ask/?utm_source=rss&utm_medium=rss&utm_campaign=8-questions-to-ask https://bdkadvisors.com/8-questions-to-ask/#respond Thu, 10 Dec 2020 21:57:56 +0000 https://bdkadvisors.com/?p=2848 When it comes to choosing a firm to settle your tax liabilities, it’s important to conduct thorough research on them before permitting them to represent you before the IRS. But you might ask, “What sort of things should someone be asking?” 8 questions to ask before paying any tax resolution firm a penny. Is OIC […]

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]]> https://bdkadvisors.com/8-questions-to-ask/feed/ 0 2848 IRS warns people about a COVID-related text message scam https://bdkadvisors.com/irs-warns-covid-text-scam/?utm_source=rss&utm_medium=rss&utm_campaign=irs-warns-covid-text-scam https://bdkadvisors.com/irs-warns-covid-text-scam/#respond Tue, 08 Dec 2020 20:51:47 +0000 https://bdkadvisors.com/?p=2835 This alert from the IRS just came across my desk. I wanted to put it out there so everyone can be informed and vigilant. Stay safe out there. Issue Number:  COVID Tax Tip 2020-167 “The IRS and its Security Summit partners are warning people to be aware of a new COVID text message scam. The thief’s goal is […]

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]]> https://bdkadvisors.com/irs-warns-covid-text-scam/feed/ 0 2835 Is my PPP loan taxable? https://bdkadvisors.com/ppp-taxable-or-deductible/?utm_source=rss&utm_medium=rss&utm_campaign=ppp-taxable-or-deductible https://bdkadvisors.com/ppp-taxable-or-deductible/#respond Tue, 01 Dec 2020 22:52:22 +0000 https://bdkadvisors.com/?p=2829 If not, are my PPP expenses deductible? The CARES Act states that an eligible recipient of a PPP loan can request debt forgiveness on amounts used to pay covered expenses (i.e. Payroll costs, etc.).  It also states that any forgiven amounts should not be included as taxable income. But in May, the IRS came out […]

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]]> https://bdkadvisors.com/ppp-taxable-or-deductible/feed/ 0 2829 Taxpayers have the right to representation when working with the IRS https://bdkadvisors.com/taxpayer-representation-rights/?utm_source=rss&utm_medium=rss&utm_campaign=taxpayer-representation-rights https://bdkadvisors.com/taxpayer-representation-rights/#respond Fri, 13 Nov 2020 23:48:54 +0000 https://bdkadvisors.com/?p=2807 IRS Tax Tip 2020-152, November 10, 2020 “The IRS grouped all of the rights taxpayers have under the law into the Taxpayer Bill of Rights. Included in the list is the right to retain representation. Here’s what the right to retain representation means to taxpayers: Taxpayers have the right to retain an authorized representative of their […]

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]]> https://bdkadvisors.com/taxpayer-representation-rights/feed/ 0 2807 Welcome to the Tax Tips Today Blog! https://bdkadvisors.com/welcome-to-the-tax-tips-today-blog/?utm_source=rss&utm_medium=rss&utm_campaign=welcome-to-the-tax-tips-today-blog https://bdkadvisors.com/welcome-to-the-tax-tips-today-blog/#respond Thu, 24 Sep 2020 21:12:51 +0000 https://bdkadvisors.com/?p=2357 We are happy to present our own platform for you to access all the valuable and timely information you need. This will allow us to present you our very best advice, tax tips, updates, and information timely and directly from the source. Have a topic you would like us to cover? Just let us know. […]

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