Monthly Archives: October 2020

Independent Contractors

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https://www.irs.gov/pub/irs-pdf/p334.pdf

The above link will take you to the IRS guide for 2019 for Schedule C small business filers.

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Charity deduction for Individual Filers 2020

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Under new Sec. 62(a)(22), for tax years beginning in 2020, eligible individuals (those who do not itemize) may deduct up to $300 in qualified charitable cash contributions. Cash contributions are any contributions paid with “cash, check, electronic fund transfer, payroll deduction, etc.” (IRS Publication 526, Charitable Contributions).