Insight - Encore Partners

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Encore Partners Insights

Buying and selling mutual fund shares: Avoid these tax pitfalls

October 20, 2020

If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares.

What tax records can you throw away?

October 16, 2020

October 15 was the deadline for individual taxpayers who extended their 2019 tax returns.

Why it’s important to plan for income taxes as part of your estate plan

September 30, 2020

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.

The tax rules for deducting the computer software costs of your business

September 28, 2020

Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others?

Business website costs: How to handle them for tax purposes

September 21, 2020

The business use of websites is widespread. But surprisingly, the IRS hasn’t yet issued formal guidance on when Internet website costs can be deducted.

Tax Implications | Working from home & collecting unemployment

September 18, 2020

Are you fortunate to be working from home because of the pandemic? Or have you lost your job and collecting unemployment due to COVID-19? Both of these situations could have tax implications.

Homebuyers: Can you deduct seller-paid points?

September 10, 2020

Homes have always been the foundation of our lives, but due to the pandemic, it is even more true that THERE IS NO PLACE LIKE HOME.

Tax Saving Opportunity – Excess Business Losses

August 28, 2020

Did you know that the CARES Act temporarily suspends the excess business loss (EBL) restrictions for individuals?

Can’t pay your income taxes on time?

August 20, 2020

What happens if you (or someone you know) can’t pay taxes on time?

What qualifies as a “coronavirus-related distribution” from a retirement plan?

June 25, 2020

Have you been thinking about taking a distribution from your retirement plan? Many people have been contemplating whether they should or shouldn’t take advantage of this provision in the Coronavirus Aid, Relief and Economic Security (CARES) Act.

Tax Tips – Good records are the key to tax deductions and trouble-free IRS audits

June 17, 2020

Many of you owning small business, start- up companies or plan to start up a company during this crazy time, you may be wondering how important record keeping is to your business.