In This Issue
Tax saving strategies you can still use in 2020
Impacted by the pandemic? IRA rule changes may help
That payroll tax deferral may come back to haunt you
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Reminders
Reminder   

November 10
* Individuals 
Employees who received more than $20 in tips in October must report them to their employer


December 15
* Businesses
Corporations must deposit the fourth installment of estimated tax for 2020
November 2020
 

This month we offer a fall cornucopia of tax tips to help you harvest this year's tax benefits and prepare for the end of 2020.

As always, we are here to answer your questions and help with a strategy that fits your specific financial needs. Call to make an in-person or video appointment.
Individuals
Tax-saving strategies you can still use in 2020 

Taxpayers have two months to make changes that can lower their 2020 taxable income. Is now a good time to adjust your investments or withholding? Depends on your specific financial position.  >Here's what to consider 
Impacted by the pandemic? IRA rule changes my help 

CARES Act legislation may soften the tax blow for individuals who suffered financial and other hardships caused by COVID-19. Even if you weren't hurt, you may want to adjust your investment strategy. > IRA changes that benefit investors

Businesses
That payroll tax deferral may come back to haunt you

The Presidential Memorandum that allows businesses to defer the employee portion of Social Security withholding gives employees higher paychecks this year. But what happens next quarter? > Why it might not be the best choice.

Payroll
Questions about how CARES Act changes will affect your business or personal taxes? Call our office at 505-984-0646 to schedule an appointment.