2020 Taxes Legal Updates

The $300/$600 Universal Charitable Deduction

Make sure you take advantage of this tax break for charitable donations through 2021

New Rules for Charitable Contribution Deductions Under the CARES Act

March 27, 2020. Learn about the new $300 universal nonitemized “above the line” charitable deduction authorized in the wake of the coronavirus crisis.

The CARES Act: Key Tax Law Changes

March 27, 2020. Learn about important changes to tax laws made by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

IRS Eases Enforcement Efforts During Coronavirus Pandemic

March 26, 2021. The Internal Revenue Service has unveiled its People First Initiative—a sweeping series of steps designed to make life easier on people facing tax issues during the coronavirus (COVID-19) crisis.

IRS Announces Standard Mileage Rate for 2020

January 01, 2020. The Internal Revenue Service announced the 2020 optional standard mileage rate for calculating the deductible costs of operating an automobile for business purposes.

Social Security and SSI Disability Benefit Amounts and COLA for 2020

January 1, 2020. The Social Security Administration announced a 1.6% increase in Social Security and Supplemental Security Income (SSI) benefits for 2020.

California Extends First-Year $800 Minimum Franchise Tax Exemption to LLCs, LPs, and LLPs

Effective January 1, 2021. California Governor Gavin Newsom signed the state’s 2020 Budget Act on June 29th. The new spending plan includes measures aimed at supporting small businesses struggling in the wake of the COVID-19 pandemic.