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The COVID-19 pandemic has changed the world and had an enormous financial impact, on both small and large businesses across the U.S. Financial experts agree, year-end tax planning is especially critical this year, as the disruption of the virus has led to a number of important issues with tax implications. There are a number of[…]

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The COVID-19 pandemic has created a historic need for support for millions of struggling families and communities across the country. Globally, people continue to suffer from hurricanes, floods, fires and regional disasters like the devastating Beirut explosion.  To encourage charitable giving, the Coronavirus Aid, Relief and Economic Security (CARES) Act has increased tax incentives for[…]

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If you, or someone you know, are headed to college, be sure to familiarize yourself with FAFSA – Free Application for Student Aid. Regardless of your family’s income, everyone should complete the form, and the sooner, the better, according to financial advisors and college admission officials. The application became available Oct. 1 for the 2021-2022[…]

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Fantasy sports earnings are taxable and should be reported to the IRS..

If you’re among the nearly 60 million fantasy sports players in the U.S. and Canada, it’s important to understand the tax implications of both your winnings and losses. Whether you’re creating your fantasy team through DraftKing, Yahoo!, ESPN or any of the other platforms, fantasy sports earnings must be reported to the IRS, just as[…]

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