For most of us, 2020 has been a punch to the gut. The intense impact of COVID-19 has put unforeseen pressure on many of us. Hopefully, your disaster plan was in place and you kept the mindset of when and not if! So, how did yours do? Although it may still be a little early […]

Who says that spring is the best season for cleaning. With the October 15th tax deadline for extended filers passed, let’s take inventory of what tax information you need to retain and what can be destroyed. Let’s channel our inner Marie Kondo and tidy things up! The general rules At minimum, you should keep tax […]

Passive activity loss rules can be some of the most confusing parts of this great nation’s tax code. No need to worry, Rudler, PSC can help guide you through these complex issues. If the ventures are passive activities, the passive activity loss rules prevent you from deducting expenses that are generated by them in excess […]

Many businesses have taken a hit during the COVID-19 pandemic. Consumers and businesses may not necessarily be in the buying mood, resulting in sales staff returning less than desirable numbers. Below you will find 4 simple steps to help focus your sales staff to seek more definite sales, which can save both time and energy […]

When filing a tax return with your spouse the “default” option is to file jointly. However, many people do not think of the potential implications this can have on the spouse or taxpayer as individuals. Depending on your situation, the spouse may be just as liable for tax liability as the taxpayer. This can lead […]

For many, the IRS is not an agency which suggests a welcoming message. Receiving a letter requesting payment of overdue taxes or a change to your return is rarely pleasant and can lead to additional stress to your already stressful life. By staying prepared and anticipating an audit from the IRS, your stress can be […]

Whether it’s a smart phone, tablet or laptop, mobile devices have become the constant companions of today’s employees. From a productivity standpoint, this is a good thing. So many tasks that once kept employees tied to their desks are now doable from anywhere on flexible schedules. All this convenience, however, brings considerable risk. Multiple threats […]

As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Now, because many estates won’t be subject to estate tax, more planning can be devoted to saving income taxes for your heirs. Before 2011, a much smaller exemption amount […]

Almost every business has purchased computer software that they have developed, bought, leased, or sold to other businesses. Business owners should be aware of the complex rules that apply to the tax treatment of software expenses. Purchased software Some software costs are deemed to be costs of “purchased” software, meaning software that’s either: Non-customized software […]

In the recent pronouncement, Notice 2020-7, the IRS announced updated per diem rates that can be used to substantiate the amount of business expenses incurred for travel away from home on or after October 1, 2020. Employers using these rates to set per diem allowances can treat the amount of certain categories of travel expenses […]