Waterfront Tax & Accounting Blog

Follow me
Services for Real Estate Pros - Lisa D Church CPA, EA, MBA, NTPI Fellow
With more and more people deriving income from a variety of sources, including side jobs, self-employment and “gig economy” work, the IRS has reported a substantial increase in the number of Americans who underpay federal income tax during the year. Underpayment can lead to an unpleasant spring t...
I was recently talking to a client who told me she was interested in leaving her job to start her own business. Starting your own business can be a good idea or a bad idea as there are many pros and cons to running your own business. If you are very good at what you do, and your skills solve a pr...
The IRS has warned taxpayers about new and ongoing scams targeting both people affected by natural disasters and those seeking to help disaster victims. In many of these fraudulent schemes, the scammers impersonate IRS representatives or charitable organizations. SCAMS INVOLVING BOGUS OFFERS OF T...
An Executive Order issued in August allows U.S. employers the option to defer collection of the employee's share of Social Security tax between September 1, 2020 and December 31, 2020. The employee's share of this tax makes up the majority of paycheck withholding labeled as FICA on most worker pa...
The IRS Lifetime Learning Credit (LLC) can offer substantial tax savings for students or their parents, especially for students who have previously completed four years of higher education. If you paid tuition and school fees in 2020 for yourself, your spouse or a dependent, you may be able to cl...
The IRS has extended the deadline for some Americans to register to receive their 2020 coronavirus Economic Impact Payments (EIPs, also called stimulus payments). The new deadline of midnight on November 21, 2020 primarily applies to those who are not required to file federal income tax returns, ...
For taxpayers who requested extensions to file various 2019 returns, the filing due date for those returns is October 15, 2020. This deadline applies to multiple filings that were originally due on April 15, 2020. (For most of these forms, the filing due date without an extension was subsequently...
If you, your spouse or any of your dependents are currently enrolled in a higher education program or were enrolled for a previous academic period in 2020, you may qualify for the American Opportunity Tax Credit (AOTC). The AOTC program allows eligible taxpayers to claim a credit for tuition cost...
 The following are tips to help you manage your own business: Online Business Resources:www.sba.gov. The U.S. Small Business Administration (SBA) provides programs for businesses in the areas of technical assistance, training and counseling, financial assistance, assistance with government contra...
Due to the economic impact of the COVID-19 (coronavirus) pandemic, individuals may have had to file for Unemployment Insurance (UI) benefits for the first time. These benefits include the federal Pandemic Unemployment Assistance (PUA) program created under the CARES Act, which provides an additio...

Lisa Church

IRS tax representation in Anne Arundel County, MD
Ask me a question