We are proud sponsors of The 112th Annual Gala Celebration & Awards Premier. Watch on YouTube both at 12 Noon and 7pm for the presentation of Annual Business Awards as well as highlights of the year’s successes.
Go to www.GHCC.com on October 8 (12pm or 7pm) to watch the premier!
#GvilleHallBiz
Greater Hall Chamber of Commerce
Yesterday at 1:45 PM ·
The Greater Hall Chamber's Annual Gala is going virtual!
For the last 111 years, the Chamber has conducted an annual meeting with the Chairman’s passing of the gavel, leadership recognition and business and community awards. Due to the COVID-19 pandemic, the event will be presented virtually this year.
The 112th Annual Gala Celebration & Awards Premier launches on Thursday, October 8th via YouTube both at 12 Noon and 7pm and includes the presentation of Annual Business Awards as well as highlights of the year’s successes.
Go to www.GHCC.com on October 8 (12pm or 7pm) to watch the premier!
AT&T is the presenting sponsor of the Gala Celebration & Awards Meeting.
Title Sponsors:
Northeast Georgia Health System
Carroll Daniel Construction
Georgia Power
Jackson EMC
King's Hawaiian
Lakewood Baptist Church
Rochester & Associates
Sponsors:
Delta Community Credit Union
Lanier Islands
Lawson Air Conditioning & Plumbing, Inc.
Rushton
Stewart Melvin & Frost
Turner, Wood, & Smith Insurance Agency
#GvilleHallBiz
#TaxTipTuesday
All taxpayers should review their withholding annually. They can use the IRS Tax Withholding Estimator to check and make sure they're not having too little or too much federal tax withheld. This tool offers workers, retirees, and self-employed individuals a step-by-step method to help figure out if they should adjust their withholding.
• This tool will help determine if they should complete a new Form W-4.
• It will also help users determine what information to put on a new Form W-4.
• It will save them time because they don't need to complete the form worksheets. The Estimator does the worksheet calculations.
If you have any questions, please contact Christina page at (770) 287-7800 or cpage@rushtonandcompany.com.
Rushton was named one of the best Accounting Firms to Work for in 2020 earlier this year. We are thrilled to announce that Rushton was recently ranked 11th out of 40 in the small firms category in the 2020 Best Firms to Work For.
https://www.accountingtoday.com/list/meet-the-2020-best-small-firms-to-work-for
#TaxTipTuesday
The IRS has suspended the mailing of three notices – the CP501, the CP503 and the CP504 – that go to taxpayers who have a balance due on their taxes. Although the IRS continues to make significant reductions in the backlog of unopened mail that developed while most IRS operations were closed due to COVID-19, this temporary adjustment to processing is intended to lessen any possible confusion that might be associated with delays in processing correspondence received from taxpayers.
If you have any questions, please contact Christina Page at (770) 287-7800 or cpage@rushtonandcompany.com.
Thank you to everyone that contributed to our Georgia Accounting Food Fight campaign. The mission of our local food banks are extremely important to us with this being the Community we call home. Your efforts helped Rushton raise the equivalent of 4,843 meals for Georgia Mountain Food Bank, which also earned us 1st place for our region. We helped the accounting community raise the equivalent of 1,140,468 meals total to distribute to families struggling with hunger across our State. We would not have been able to accomplish this without your generosity.
We want to hear from you! When it comes to taxes, what do you want to know? Comment or direct message us your questions and topics for our next #TaxTipTuesday!
On Sept. 25th, 10 members of the Rushton team volunteered their time to paint at the Boys & Girls Clubs of Lanier through United Way.
#TaxTipTuesday
Did you know that unemployment payments you receive are taxable and that you can choose to have federal income tax withheld?
Unemployment is taxable and should be included as income for the year. Taxpayers should receive form 1099-G, Certain Government Payments, by Jan. 31 showing the amount received and the amount of any federal income tax withheld. Those who receive unemployment can choose to have federal income tax withheld. Those choosing not to have tax withheld may need to make estimated payments throughout the year.
For more information, contact Todd Mershon, CPA, at (770) 287-7800 or tmershon@rushtonandcompany.com.
Yesterday, some of our team members attended the Chamber Chase 5k hosted by the Greater Hall Chamber of Commerce at Lanier Islands and some members participated in the virtual race as well!
#TaxTipTuesday Your tax filing status affects your standard deduction amounts and the amount of tax you should pay. Understanding your status and any possible changes that may occur through out your life can help you save money on your tax return. For example, if you are single and have a dependent, you may be eligible to file as Head of Household, potentially saving you thousands of dollars in taxes.
For more information please contact Christina Page at 770-287-7800 or cpage@rushtonandcompany.com.
Rushton is proud of our own Chelsea Sullivan, CPA for giving back to our community in meaningful ways. Congratulations, Chelsea, as you assume the role of Executive VP for Junior League of Gainesville-Hall County.
Junior League of Gainesville-Hall County
October 12 at 1:23 PM ·
Meet Your (Board) Member Monday: Chelsea Sullivan with Rushton
#jlghc #juniorleague #communityservice #gainesvillega #gvlga #hallcounty #leadershp #Leaders #womenleadingwomen
The Gainesville Jaycees
October 21 at 1:30 PM ·
As we approach this Friday's kickoff of the 4th annual Carlos B Elmore Golf Tourney we'd like to begin thanking each and every one of our sponsors who have dug down deep this year to help us out with raising funds for our charities.
We'd like to thank Rushton for their generous contributions to our charities! Rushton has been a staunch supporter of the Jaycees over the years, facilitated by numerous alumni from years ago, as well as current partners and other employees of the company who are still active in the Jaycees. Fun fact: for many years, the Jaycees held their executive and regular board meeting sessions at Rushton's offices. We can't thank them enough for their countless efforts of support throughout the many decades!
If you are in need of auditing, tax consultations, tax preparations, estate planning, or other tax or business/non-profit auditing related issues among many other areas of expertise, then give Rushton a call today!
Rushton is seeking an entry-level Audit Associate in our growing Government and Non-Profit Division. At Rushton, you will have the opportunity to work closely with your peers and clients to develop your leadership, technical and professional skills while working on challenging and exciting engagements. Read more about the open position here: https://www.rushtonandcompany.com/government-audit-associate-gainesville-ga
#TaxTipTuesday
New for 2020 - Form 1099-NEC replaces box 7 on 1099-MISC.
If you pay a non-employee over $600 in 2020, this is no longer reported to the recipient and IRS on Form 1099-MISC. New for 2020, all non-employee compensation will be reported on Form 1099-NEC.
For more information, contact Erin Pitts at (770) 287-7800 or epitts@rushtonandcompany.com.
#ServiceSpotlight With significant experience in construction, Rushton has provided sound counsel for years in bonding, lending and other financial areas that are key factors for any builder or developer. Read more:
http://www.rushtonandcompany.com/construction-accounting/
#TaxTipTuesday The Social Security Administration (SSA) announced that the maximum amount of wages subject to the old age, survivors, and disability insurance (OASDI) tax will increase to $142,800 in 2021 from $137,700 in 2020. The OASDI tax rate is 6.2%, so an employee with wages up to or above the maximum in 2021 will pay $8,853.60 in tax, with the employer paying an equal amount. Self-employed individuals pay tax at a 12.4% rate up to the limit, for a $17,707.20 maximum amount of OASDI tax.
The Medicare hospital insurance tax of 1.45% each for employees and employers, or 2.9% for the self-employed, has no wage limit.
For more information, contact Gail Iverson at (770) 287-7800 or giverson@rushtonandcompany.com.
Rushton employees had some fun today with our annual Halloween costume contest complete with awards, prizes and a pizza lunch. Winners were: Most Creative -- Anna Lyle for her 8 Ball costume, Worst -- Greyson Schuebert for no costume, Scariest -- Paige Patton for her Alabama Fan costume, and Best Overall -- Cindy Campbell for her Deviled Egg costume. Congrats to the winners and thank you Rushton for sprinkling a little fun into our work day! #workhardplayhard #RushtonCPA
Tax Season doesn't have to be scary. Trust your Rushton professionals this year! Call us at 770-287-7800 or visit www.RushtonandCompany.com to see how we can help you.
If you are married and run your business as a sole proprietorship, it can be a tax-smart move to hire your spouse as an employee. These plans are often referred to as "Section 105 Plans."
http://bit.ly/hirespouses
#TaxTipTuesday For individuals who itemize their deductions, the CARES Act allows cash contributions to qualifying charities to be deductible up to 100% of AGI for 2020. The law prior to the CARES Act limited deductions to 60% of AGI.
For more information please contact Andrew Beauchamp at (770) 287-7800 or abeauchamp@rushtonandcompany.com.
We have been nominated for Best of Hall 2021 in the following categories:
• Accounting Firm
• Financial Planning
• Bookkeeper
• Business Consulting
We would like to invite you to vote for us in one or all of these categories, now through November 30th. You may vote once per day here: https://gainesvilletimes.secondstreetapp.com/Best-of-Hall-2021/
Thank you for your continued support and nomination again this year!
Many family businesses have been adversely affected by the novel coronavirus (COVID-19) pandemic. But there's a silver lining: Proactive tax planning can help your family business take advantage of potential opportunities in the COVID-19 era. Here are some tax-smart ideas to consider: https://bit.ly/COVID19taxplanning
#TaxTipTuesday The Taxpayer Relief Initiative is a new program to help taxpayers who are unable to pay their taxes because of the pandemic. Taxpayers who owe taxes now have more options.
For more information, please contact Perry Barnett at (770) 287-7800 or pbarnett@rushtonandcompany.com.
Rushton is seeking an entry-level Audit Associate in our growing Government and Non-Profit Division. At Rushton, you will have the opportunity to work closely with your peers and clients to develop your leadership, technical and professional skills while working on challenging and exciting engagements. Read more about the open position here:https://www.rushtonandcompany.com/government-audit-associate-gainesville-ga
Everyone at Rushton wishes you and your family a happy and healthy Thanksgiving this year!
#TaxTipTuesday The IRS recently released guidance about the deductibility of expenses in connection with the Paycheck Protection Program (PPP) loan under the CARES Act. The IRS position is that taxpayers cannot claim a deduction for any otherwise deductible expense if the payment of the expense results in forgiveness of a PPP loan because the income associated with the forgiveness is excluded from gross income under the CARES Act.
Read more here: https://www.journalofaccountancy.com/news/2020/nov/ppp-loan-forgiveness-irs-safe-harbor.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=20Nov2020
For more information, please contact Perry Barnett at (770) 287-7800 or pbarnett@rushtonandcompany.com
#ServiceSpotlight Located within the heart of Northeast Georgia's most vibrant medical community, Rushton has developed keen insight into the operations of physician practices, including general, multi-specialty, dental, eye and other practices. Because of our vast experience in medical practice accounting, we don't need a learning curve to adapt to the unique requirements of your business. We can even help your practice with highly regulated areas such as HIPPA (Health Insurance Portability and Accountability Act) and The Stark Law. Read more about what we can do for you: https://www.rushtonandcompany.com/healthcare
#TaxTipTuesday The IRS, state tax agencies and the tax industry are warning of a new text scam created by thieves that trick people into disclosing bank account information under the guise of receiving the $1,200 Economic Impact Payment.
The IRS, states and industry, working together as the Security Summit, remind taxpayers that neither the IRS nor state agencies will ever text taxpayers asking for bank account information so that an EIP deposit may be made.
For more information, please contact Gail Iverson at (770) 287-7800 or giverson@rushtonandcompany.com.
#TaxTipTuesday As the year comes to an end, people often think about donating to charities. The IRS has a tool, Tax Exempt Organization Search (TEOS), giving taxpayers the ability to search for organizations that are tax-deductible charities. This tool can be found on the IRS.gov website at https://www.irs.gov/charities-non-profits/tax-exempt-organization-search .
For more information, please contact Christina Page at (770) 287-7800 or cpage@rushtonandcompany.com.
Read about the Federal Tax Breaks for individuals that are set to expire at the end of 2020: https://bit.ly/FederalTaxBreaksExpiring
Get an inside look at important tips for year-end tax planning here:
https://www.rushtonandcompany.com/2020-Year-End-Tax-Letter
The IRS published new travel per diem rates for 2021. See methods of reimbursing employees for actual travel costs:
https://bit.ly/NewTravelCostRules
While Americans are entitled to take every legitimate deduction to manage their taxes, the Internal Revenue Service (IRS) places limits on your creativity. See some examples: https://bit.ly/CreativeTaxdeductions
The Emergency Coronavirus Relief Act of 2020 is in the final stages of being passed and although all details are yet to be finalized, there is a general framework that warrants consideration and planning. One of the main focuses is renewed support for the Paycheck Protection Program (PPP). This means a second round of PPP for small businesses who previously received funds and an opportunity for first time recipients of PPP funds. For those with existing PPP loans, there is the possibility of a more simplified forgiveness process for loans under certain thresholds.
What you need to know. As of this writing, the following is being proposed when it comes to PPP:
There are two Eligible Groups:
• Second draw loans for the hardest hit borrowers with 300 or fewer employees; and 20-30% gross receipts decline in any quarter in 2020 compared to the same quarter in 2019.
• First time borrowers
o Similar criteria as original PPP loans
o Adds 501(c)(6) organizations (chambers of commerce, economic development, tourism) with 150 or fewer employees
Costs eligible for loan forgiveness:
• Same as original PPP: payroll costs, covered mortgage interest, rent and utilities
• Covered worker protection expenditures and facility modification costs: PPE and cost to comply with COVID-19 federal health and safety guidelines
• Covered supplier costs: expenditures to a supplier that are essential to the recipient’s current operations
• 60/40 cost allocation between payroll and non-payroll.
Final legislation is yet to be passed and some of the criteria above may change. However, the time is now to start planning if you will be eligible as a first time borrower or you’ve seen a significant decline in gross receipts during 2020. We will continue to monitor the situation and send updates as necessary. If you have any questions or concerns, please do not hesitate to contact us at (770) 287-7800.
https://www.rushtonandcompany.com/blog
This year, some of us may celebrate the holidays a little differently, and our celebrations may take place much closer to home.
But as we all know, there's no place quite like home for the holidays. So, whether your loved ones are near or far, we wish you and yours a wonderful holiday season.
https://www.rushtonandcompany.com/campaigns/holiday
#TaxTipTuesday If taxable income is up to $40,125 as a single individual, $80,250 if you are married, and $53,700 if you file as head of household, you may not owe any taxes on your sales of securities. Read more here: https://www.accountingweb.com/community/blogs/craig-smalley/a-top-tax-savings-tip?utm_source=Master&utm_campaign=a5703ac410-1017_Taxation_Community1_COPY_01&utm_medium=email&utm_term=0_ac80b8a671-a5703ac410-39888097&goal=0_ac80b8a671-a5703ac410-39888097
For more information, contact Wendy Ingram, CPA at (770) 287-7800 or wingram@rushtonandcompany.com.
We can’t wait to ring in a NEW year! Wishing you all a happy and healthy 2021.
#TaxTipTuesday An updated Form W-4 that helps taxpayers estimate their withholding was rolling out by the IRS in 2019. Completing the new form could help taxpayers ensure their withholding is more accurate, preventing a larger tax bill than expected.
For more information, contact Perry Barnett at (770) 287-7800 or pbarnett@rushtonandcompany.com.
http://bit.ly/updatedw-4form
Your 401(k) plan's ultimate size is primarily a function of two factors — how much you contribute and how much you earn. Consider these steps to increase your returns: https://bit.ly/401kmax
#TaxTipTuesday The optional standard mileage rate for business use of a vehicle will decrease once again in 2021 after increasing significantly in 2019, the IRS announced in Notice 2021-02. For business use of a car, van, pickup truck, or panel truck, the rate for 2021 will be 56 cents per mile after decreasing to 57.5 cents per mile in 2020, down from 58 cents per mile in 2019. Taxpayers can use the optional standard mileage rate to calculate the deductible costs of operating an automobile.
Please join Rushton's Nick Bruner and UGA's Small Business Development Center for the PPP/EIDL Funding Update Webinar on Tuesday, January 19 from 2 pm - 3 pm | via Zoom (No Charge).
Learn about the newest round of COVID-19 Relief Funding for Small Business
Register here:
https://us02web.zoom.us/meeting/register/tZElceGvqDwsGd2ZZGpwjJGEgiJwsa22_N21
As the Baby Boom generation ages, there is an increasing interest in insurance to pay some of the high costs involved in staying in a long-term care facility. If you are interested in long term care insurance, it can be worthwhile to obtain the coverage through your business — rather than as an individual. Read more: http://bit.ly/LongTermCareCoverage
REMINDER: Please join Rushton's Nick Bruner and UGA's Small Business Development Center for the PPP/EIDL Funding Update Webinar on Tuesday, January 19 from 2 pm - 3 pm | via Zoom (No Charge).
Learn about the newest round of COVID-19 Relief Funding for Small Business
Register here:
https://us02web.zoom.us/meeting/register/tZElceGvqDwsGd2ZZGpwjJGEgiJwsa22_N21
The massive COVID-19 relief bill signed on December 27, 2020, contains a variety of tax breaks and authorizes direct payments to eligible individuals. The new law, called the Consolidated Appropriations Act, contains beneficial changes for individuals. This article explains some of the highlights: http://bit.ly/CovidReliefBill_CAA
Over the years, Congress has established some nice tax breaks for transportation-related employee fringe benefits to encourage taxpayers to be more ecology-minded when commuting to work. Here's how the TCJA changed transportation-related benefits after 2017: http://bit.ly/transportationBenefits
#ServiceSpotlight Rushton gives business and personal counsel for high-wealth individuals in a myriad of estate planning areas such as compiling asset inventories, protecting assets and transferring land titles and other estate properties.
Developing a thorough professional plan for your estate may require interacting directly with your attorney, banker, stock broker, insurance agent and pension plan advisor, not just with you and your spouse. We have the experience to do that seamlessly, to ensure your overall plan is organized and executed properly.
https://www.rushtonandcompany.com/estate-planning
Could your family business continue to support you if you became disabled? Read how a buy-sell agreement could include disability provisions for you and your business: http://bit.ly/Buy_Sell_Agreement4DisabilityProtection
#TaxTipTuesday
Do you work at home occasionally? See if you are entitled to a home office deduction.
To qualify for an income tax deduction for home office expenses, the IRS requires that you meet two tests--the place of business test and the exclusive and regular use test.
To pass the place of business test, you must show that you use a portion of your home as:
• The principal place for any trade or business you conduct, including administrative use. The IRS uses a two- part test to determine if a home office is a taxpayer's principal place of business. The test considers the relative importance of business activities performed at each business location and the amount of time spent conducting those activities at each place of business.
• A place where you meet clients or customers in the normal course of business.
• In the case of a separate structure that is not attached to your dwelling unit, you must show that you use it in connection with your trade or business (i.e., it needn't be your principal place of business).
The exclusive and regular use test requires that you use that portion of your home both exclusively for business and on a regular basis.
Depending on the nature of your work, your occasional home use is unlikely to qualify for a home office deduction since it is doubtful you would meet the first test (because occasional implies it isn't your principal place of business). You are also unlikely to satisfy the second test (because occasional implies that the use of your home isn't exclusive or regular).
Because the rules are complicated, feel free to contact Gail Iverson, CPA, at (770) 287-7800 or email giverson@rushtonandcompany.com.
Thank you for voting Rushton the Best of Hall County in Bookkeeping and Business Consulting! We appreciate your continued support.
What happens if you leave a job where you have a 401(k) account? Do you need to close out your account and find a new place for it? What are your choices? You need to know the options and the consequences of those actions. Here is a rundown of information to help you make a sound decision.
http://bit.ly/401Koptionsformeremployer
#TaxTipTuesday Once the 2nd Economic Impact Payments (Stimulus) are posted, IRS says you can go to https://www.irs.gov/coronavirus/get-my-payment to confirm both 1st and 2nd EIP.
For more information, contact Gail Iverson at (770) 287-7800 or giverson@rushtonandcompany.com.
We want to make sure you are aware of a scheduled outage of the Georgia Tax Center (GTC) website due to a tax system upgrade.
Please complete all GTC business before Friday, February 5th at 11:00 pm. GTC will be unavailable from February 5th at 11:00 pm to February 10th at 11:00 pm.
Beginning Friday, February 5, 2021, 11:00 p.m. ALL tax services (including GTC) will be unavailable, including:
• All Payment Processing
• Filing Returns
• Refund Status
• Tax Credit Pre-Approvals
Please plan accordingly to ensure timely filings and payments. If you have questions, please contact Christie Bruce, Payroll Specialist, at cbruce@rushtonandcompany.com or (770) 287-7800.
https://dor.georgia.gov/georgia-tax-system-upgrade-information
#MeetTheTeam: J. Chris Hollifield, CPA, Managing Partner
As Managing Partner of Rushton, Chris oversees Audits and Assurance Services. A graduate of the University of Georgia, he has been with Rushton since 1994 and a partner since 1997.
Chris most enjoys interacting with clients and helping them work through situations to achieve their goals. He holds memberships in a number of professional organizations and is actively involved in the community. His volunteer work includes serving on the Finance and Audit Committee of Northeast Georgia Health System, Treasurer for CASA (Court Appointed Special Advocates for Children), board member and Finance Committee of Georgia Mountains YMCA, and board member and Finance Committee of Trinity United Methodist Church.
https://www.rushtonandcompany.com/team/j-chris-hollifield
#TaxTipTuesday The IRS has historically required hand-to-paper signatures ("wet signatures") for tax returns, election statements, and other IRS documents. With technology advances and a need to modernize interactions with the IRS, now e-file signature authorization forms ( 8879) for both individual and business returns can be e-signed through June 2021.
#TaxTipTuesday Once the 2nd Economic Impact Payments (Stimulus) are posted, IRS says you can go to https://www.irs.gov/coronavirus/get-my-payment to confirm both 1st and 2nd EIP.
For more information, contact Gail Iverson at (770) 287-7800 or giverson@rushtonandcompany.com.
We want to make sure you are aware of a scheduled outage of the Georgia Tax Center (GTC) website due to a tax system upgrade.
Please complete all GTC business before Friday, February 5th at 11:00 pm. GTC will be unavailable from February 5th at 11:00 pm to February 10th at 11:00 pm.
Beginning Friday, February 5, 2021, 11:00 p.m. ALL tax services (including GTC) will be unavailable, including:
• All Payment Processing
• Filing Returns
• Refund Status
• Tax Credit Pre-Approvals
Please plan accordingly to ensure timely filings and payments. If you have questions, please contact Christie Bruce, Payroll Specialist, at cbruce@rushtonandcompany.com or (770) 287-7800.
https://dor.georgia.gov/georgia-tax-system-upgrade-information
#TaxTipTuesday Didn’t receive your Economic Impact Payments? You may be eligible to claim the Recovery Rebate Credit on your 2020 1040 or 1040-SR return, even if you are not required to file, and receive up to the full amount of each EIP.
For more information, contact Gabi Santangelo at (770) 287-7800 or gsantangelo@rushtonandcompany.com.
Other resources you may want to visit:
https://www.kiplinger.com/taxes/602094/recovery-rebate-credit-get-your-full-stimulus-check-payment-with-this-tax-credit
https://www.irs.gov/newsroom/recovery-rebate-credit
Stay tuned for more tax tips every Tuesday!
Rushton will be using SafeSend Returns this year.
RECEIVE YOUR TAX RETURNS SECURELY AND WITH EASE: SafeSend Returns allows us to deliver your return securely and walks you through the steps of downloading and saving the PDF of your tax
return to your device or you can receive your tax return via secure email.
FOR INDIVIDUALS: SafeSend Returns saves you time and allows you to e-sign your 1040, receive estimated tax reminder emails, and pay your taxes and your invoice directly from your device.
FOR BUSINESSES: SafeSend Returns allows you to download, sign and conveniently distribute K-1’s electronically. Not to mention the time it saves you, so you can focus on what really matters,
your business!
ENVIRONMENTALLY SAFE: SafeSend Returns is just another way to go green, no more ink, postage or paper which is great for the planet which makes it great for you and future generations to come.
Read more: https://www.rushtonandcompany.com/safesend-returns
Did you know the Consolidated Appropriations Act (CAA) allows taxpayers to deduct 100% of business-related food and beverage expenses? Read more about the new tax breaks offered by this law: http://bit.ly/CAA2021taxbreaks
#MeetTheTeam: J. Chris Hollifield, CPA, Managing Partner
As Managing Partner of Rushton, Chris oversees Audits and Assurance Services. A graduate of the University of Georgia, he has been with Rushton since 1994 and a partner since 1997.
Chris most enjoys interacting with clients and helping them work through situations to achieve their goals. He holds memberships in a number of professional organizations and is actively involved in the community. His volunteer work includes serving on the Finance and Audit Committee of Northeast Georgia Health System, Treasurer for CASA (Court Appointed Special Advocates for Children), board member and Finance Committee of Georgia Mountains YMCA, and board member and Finance Committee of Trinity United Methodist Church.
https://www.rushtonandcompany.com/team/j-chris-hollifield
#TaxTipTuesday The IRS has historically required hand-to-paper signatures ("wet signatures") for tax returns, election statements, and other IRS documents. With technology advances and a need to modernize interactions with the IRS, now e-file signature authorization forms ( 8879) for both individual and business returns can be e-signed through June 2021.
#TaxTipTuesday Did you know that unemployment payments you receive are taxable and that you can choose to have federal income tax withheld?
Unemployment is taxable and should be included as income for the year. Taxpayers should receive form 1099-G, Certain Government Payments, by Jan. 31 showing the amount received and the amount of any federal income tax withheld. Those who receive unemployment can choose to have federal income tax withheld. Those choosing not to have tax withheld may need to make estimated payments throughout the year.
For more information, contact Todd Mershon, CPA, at (770) 287-7800 or tmershon@rushtonandcompany.com. Stay tuned for more tax tips every Tuesday!
https://www.rushtonandcompany.com/blog/tax-tip-tuesday-tip-47-unemployment-payments-are-taxable
Rushton is proud to announce Samuel Latimer as a partner with the firm.
Latimer joined Rushton in 2012. Prior to being named partner, he served as Audit Manager for the firm’s governmental and nonprofit division, overseeing financial statement audits of local governments of all sizes and specializing in assisting clients with development of internal control policies.
He also teaches continuing professional education classes. His instruction focuses on internal controls, fraud, single audits, governmental accounting and auditing, and more general professional auditing standards.
The University of North Florida graduate has served as president of the Northeast Georgia Chapter of the Georgia Society of CPAs and is a member of the American Institute of CPAs. Active in the community, Latimer is a former president of the Gainesville Jaycees and serves on the Youth Leadership Hall County PAC Team.
https://www.rushtonandcompany.com/team/sam-latimer
#ServiceSpotlight Women face unique challenges when it comes to financial planning. Women tend to earn less than men, are more likely to take a leave of absence from work to provide family care, and are more likely to live alone due to divorce or the death of a spouse. At Rushton Wealth Management we help women address these challenges. Learn more here:https://www.rushtonandcompany.com/planning-for-women
#TaxTipTuesday Didn’t receive your Economic Impact Payments? You may be eligible to claim the Recovery Rebate Credit on your 2020 1040 or 1040-SR return, even if you are not required to file, and receive up to the full amount of each EIP.
For more information, contact Gabi Santangelo at (770) 287-7800 or gsantangelo@rushtonandcompany.com.
Other resources you may want to visit:
https://www.kiplinger.com/taxes/602094/recovery-rebate-credit-get-your-full-stimulus-check-payment-with-this-tax-credit
https://www.irs.gov/newsroom/recovery-rebate-credit
Stay tuned for more tax tips every Tuesday!
Rushton will be using SafeSend Returns this year.
RECEIVE YOUR TAX RETURNS SECURELY AND WITH EASE: SafeSend Returns allows us to deliver your return securely and walks you through the steps of downloading and saving the PDF of your tax
return to your device or you can receive your tax return via secure email.
FOR INDIVIDUALS: SafeSend Returns saves you time and allows you to e-sign your 1040, receive estimated tax reminder emails, and pay your taxes and your invoice directly from your device.
FOR BUSINESSES: SafeSend Returns allows you to download, sign and conveniently distribute K-1’s electronically. Not to mention the time it saves you, so you can focus on what really matters,
your business!
ENVIRONMENTALLY SAFE: SafeSend Returns is just another way to go green, no more ink, postage or paper which is great for the planet which makes it great for you and future generations to come.
Read more: https://www.rushtonandcompany.com/safesend-returns
Did you know the Consolidated Appropriations Act (CAA) allows taxpayers to deduct 100% of business-related food and beverage expenses? Read more about the new tax breaks offered by this law: http://bit.ly/CAA2021taxbreaks
Have you seen the tax breaks included in the CAA? Employers can claim deductions for energy-efficient commercial buildings and receive a credit for new work opportunities. Read about more tax breaks here: http://bit.ly/CAA2021taxbreaks
#TaxTipTuesday Did you know that unemployment payments you receive are taxable and that you can choose to have federal income tax withheld?
Unemployment is taxable and should be included as income for the year. Taxpayers should receive form 1099-G, Certain Government Payments, by Jan. 31 showing the amount received and the amount of any federal income tax withheld. Those who receive unemployment can choose to have federal income tax withheld. Those choosing not to have tax withheld may need to make estimated payments throughout the year.
For more information, contact Todd Mershon, CPA, at (770) 287-7800 or tmershon@rushtonandcompany.com. Stay tuned for more tax tips every Tuesday!
https://www.rushtonandcompany.com/blog/tax-tip-tuesday-tip-47-unemployment-payments-are-taxable
Rushton is proud to announce Samuel Latimer as a partner with the firm.
Latimer joined Rushton in 2012. Prior to being named partner, he served as Audit Manager for the firm’s governmental and nonprofit division, overseeing financial statement audits of local governments of all sizes and specializing in assisting clients with development of internal control policies.
He also teaches continuing professional education classes. His instruction focuses on internal controls, fraud, single audits, governmental accounting and auditing, and more general professional auditing standards.
The University of North Florida graduate has served as president of the Northeast Georgia Chapter of the Georgia Society of CPAs and is a member of the American Institute of CPAs. Active in the community, Latimer is a former president of the Gainesville Jaycees and serves on the Youth Leadership Hall County PAC Team.
https://www.rushtonandcompany.com/team/sam-latimer
#ServiceSpotlight Women face unique challenges when it comes to financial planning. Women tend to earn less than men, are more likely to take a leave of absence from work to provide family care, and are more likely to live alone due to divorce or the death of a spouse. At Rushton Wealth Management we help women address these challenges. Learn more here:https://www.rushtonandcompany.com/planning-for-women
#TaxTipTuesday Didn’t receive your Economic Impact Payments? You may be eligible to claim the Recovery Rebate Credit on your 2020 1040 or 1040-SR return, even if you are not required to file, and receive up to the full amount of each EIP.
For more information, contact Gabi Santangelo at (770) 287-7800 or gsantangelo@rushtonandcompany.com.
Other resources you may want to visit:
https://www.kiplinger.com/taxes/602094/recovery-rebate-credit-get-your-full-stimulus-check-payment-with-this-tax-credit
https://www.irs.gov/newsroom/recovery-rebate-credit
Stay tuned for more tax tips every Tuesday!
Rushton will be using SafeSend Returns this year.
RECEIVE YOUR TAX RETURNS SECURELY AND WITH EASE: SafeSend Returns allows us to deliver your return securely and walks you through the steps of downloading and saving the PDF of your tax
return to your device or you can receive your tax return via secure email.
FOR INDIVIDUALS: SafeSend Returns saves you time and allows you to e-sign your 1040, receive estimated tax reminder emails, and pay your taxes and your invoice directly from your device.
FOR BUSINESSES: SafeSend Returns allows you to download, sign and conveniently distribute K-1’s electronically. Not to mention the time it saves you, so you can focus on what really matters,
your business!
ENVIRONMENTALLY SAFE: SafeSend Returns is just another way to go green, no more ink, postage or paper which is great for the planet which makes it great for you and future generations to come.
Read more: https://www.rushtonandcompany.com/safesend-returns
Here are five major credits for you to consider on the 2020 tax return that you must file in 2021: http://bit.ly/5ValueableTaxCredits
Have you seen the tax breaks included in the CAA? Employers can claim deductions for energy-efficient commercial buildings and receive a credit for new work opportunities. Read about more tax breaks here: http://bit.ly/CAA2021taxbreaks
#TaxTipTuesday Did you know that unemployment payments you receive are taxable and that you can choose to have federal income tax withheld?
Unemployment is taxable and should be included as income for the year. Taxpayers should receive form 1099-G, Certain Government Payments, by Jan. 31 showing the amount received and the amount of any federal income tax withheld. Those who receive unemployment can choose to have federal income tax withheld. Those choosing not to have tax withheld may need to make estimated payments throughout the year.
For more information, contact Todd Mershon, CPA, at (770) 287-7800 or tmershon@rushtonandcompany.com. Stay tuned for more tax tips every Tuesday!
https://www.rushtonandcompany.com/blog/tax-tip-tuesday-tip-47-unemployment-payments-are-taxable
Rushton is proud to announce Samuel Latimer as a partner with the firm.
Latimer joined Rushton in 2012. Prior to being named partner, he served as Audit Manager for the firm’s governmental and nonprofit division, overseeing financial statement audits of local governments of all sizes and specializing in assisting clients with development of internal control policies.
He also teaches continuing professional education classes. His instruction focuses on internal controls, fraud, single audits, governmental accounting and auditing, and more general professional auditing standards.
The University of North Florida graduate has served as president of the Northeast Georgia Chapter of the Georgia Society of CPAs and is a member of the American Institute of CPAs. Active in the community, Latimer is a former president of the Gainesville Jaycees and serves on the Youth Leadership Hall County PAC Team.
https://www.rushtonandcompany.com/team/sam-latimer
#ServiceSpotlight Women face unique challenges when it comes to financial planning. Women tend to earn less than men, are more likely to take a leave of absence from work to provide family care, and are more likely to live alone due to divorce or the death of a spouse. At Rushton Wealth Management we help women address these challenges. Learn more here:https://www.rushtonandcompany.com/planning-for-women
#TaxTipTuesday Didn’t receive your Economic Impact Payments? You may be eligible to claim the Recovery Rebate Credit on your 2020 1040 or 1040-SR return, even if you are not required to file, and receive up to the full amount of each EIP.
For more information, contact Gabi Santangelo at (770) 287-7800 or gsantangelo@rushtonandcompany.com.
Other resources you may want to visit:
https://www.kiplinger.com/taxes/602094/recovery-rebate-credit-get-your-full-stimulus-check-payment-with-this-tax-credit
https://www.irs.gov/newsroom/recovery-rebate-credit
Stay tuned for more tax tips every Tuesday!
Can employers require workers to be vaccinated for COVID-19? Read more: https://bit.ly/37nzxpv
#MeetTheTeam: Perry Barnett, CPA,PFS, Tax Partner
Perry looks forward to every Monday, because for him, each week is a new adventure. "I get to work with people locally, nationally and internationally every day, and help them grow their business or plan for their personal future of success. We also are fortunate to work with bright young people as they begin their careers and grow into professionals. At Rushton, we have some of the most talented people in our industry."
Read more:https://www.rushtonandcompany.com/team/perry-barnett
#TaxTipTuesday Did you know that contributing to your IRA directly reduces your taxable income? You can make contributions until April 15th!
For more information contact Liza Vasyliv at 770-287-7800 or lvasyliv@rushtonandcompany.com.
Here are five major credits for you to consider on the 2020 tax return that you must file in 2021: http://bit.ly/5ValueableTaxCredits
Have you seen the tax breaks included in the CAA? Employers can claim deductions for energy-efficient commercial buildings and receive a credit for new work opportunities. Read about more tax breaks here: http://bit.ly/CAA2021taxbreaks
#TaxTipTuesday Did you know that unemployment payments you receive are taxable and that you can choose to have federal income tax withheld?
Unemployment is taxable and should be included as income for the year. Taxpayers should receive form 1099-G, Certain Government Payments, by Jan. 31 showing the amount received and the amount of any federal income tax withheld. Those who receive unemployment can choose to have federal income tax withheld. Those choosing not to have tax withheld may need to make estimated payments throughout the year.
For more information, contact Todd Mershon, CPA, at (770) 287-7800 or tmershon@rushtonandcompany.com. Stay tuned for more tax tips every Tuesday!
https://www.rushtonandcompany.com/blog/tax-tip-tuesday-tip-47-unemployment-payments-are-taxable
#TaxTipTuesday Don’t forget to include any charitable donations you made in 2020 with your tax documents for preparation even if you usually take the standard deduction. The IRS is allowing a $300 maximum cash donation deduction above the line even for taxpayers who take the standard deduction. This can help to reduce your AGI and your overall tax liability.
For more information, contact Kristen Woodall at (770) 287-7800 or kwoodall@rushtonandcompany.com.
Joseph W. Coates, CPA comes to Rushton with extensive experience in tax at a Big 4 firm. He joined Rushton as Tax Manager based out of the Gainesville, GA office. Coates holds a BBA in accounting as well as a MAcc in Tax from the University of Georgia. Welcome to the team Joseph!
Can employers require workers to be vaccinated for COVID-19? Read more: https://bit.ly/37nzxpv
#MeetTheTeam: Perry Barnett, CPA,PFS, Tax Partner
Perry looks forward to every Monday, because for him, each week is a new adventure. "I get to work with people locally, nationally and internationally every day, and help them grow their business or plan for their personal future of success. We also are fortunate to work with bright young people as they begin their careers and grow into professionals. At Rushton, we have some of the most talented people in our industry."
Read more:https://www.rushtonandcompany.com/team/perry-barnett
#TaxTipTuesday Did you know that contributing to your IRA directly reduces your taxable income? You can make contributions until April 15th!
For more information contact Liza Vasyliv at 770-287-7800 or lvasyliv@rushtonandcompany.com.
Here are five major credits for you to consider on the 2020 tax return that you must file in 2021: http://bit.ly/5ValueableTaxCredits
Andrew Beauchamp, CPA was promoted to Tax Supervisor with the firm. He holds a BBA in Accounting from University of North Georgia and works in the Gainesville, GA office. Congratulations Andrew!
#TaxTipTuesday Student loan forgiveness is now tax-free thanks to the latest stimulus package signed into law. Advocates and borrowers hope the change will remove an obstacle in the way of the president canceling the debt. What does this mean for you?
For more information, contact Perry Barnett at (770) 287-7800 or pbarnett@rushtonandcompany.com. Stay tuned for more tax tips every Tuesday!
Read more here: http://bit.ly/studentloanforgivenesstaxfree
BREAKING NEWS: The IRS has extended the federal tax filing and payment deadline to May 17th for individuals. This does not apply to estimated tax payments that are due on April 15th.
For more information, see the IRS press release linked below. We will provide more guidance as the IRS releases further information. You may also contact us with any questions at (770) 287-7800.
https://www.irs.gov/newsroom/tax-day-for-individuals-extended-to-may-17-treasury-irs-extend-filing-and-payment-deadline
#TaxTipTuesday Don’t forget to include any charitable donations you made in 2020 with your tax documents for preparation even if you usually take the standard deduction. The IRS is allowing a $300 maximum cash donation deduction above the line even for taxpayers who take the standard deduction. This can help to reduce your AGI and your overall tax liability.
For more information, contact Kristen Woodall at (770) 287-7800 or kwoodall@rushtonandcompany.com.
Joseph W. Coates, CPA comes to Rushton with extensive experience in tax at a Big 4 firm. He joined Rushton as Tax Manager based out of the Gainesville, GA office. Coates holds a BBA in accounting as well as a MAcc in Tax from the University of Georgia. Welcome to the team Joseph!
Can employers require workers to be vaccinated for COVID-19? Read more: https://bit.ly/37nzxpv
