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Introducing IRS Form 1099-NEC

For many years, non-employee compensation has been reported in Box 7 on IRS form 1099-MISC. Beginning with the tax year 2020, non-employee compensation will be reported on the new form 1099-NEC in Box 1. 

2020 Tax Planning Tips: Part 5

Part five of our Tax Planning series is all about small businesses! Keep reading for some great tips on how to minimize your 2020 tax bill. Are you an individual looking for tax advice? Click here for those tips.  Year-end Planning Moves for Small Businesses Tax Tip #7: Net Operating Losses (NOLs) The CARES Act…
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2020 Tax Planning Tips: Part 4

If you’re new to our 2020 Tax Planning series, click here to start with Part 1! Otherwise, keep reading for some more great tips to help individual taxpayers minimize their 2020 tax bill. In Part 4, we’re going over intrafamily loans!  Be on the lookout for part five, where we’ll get into year-end planning moves…
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Governor Ivey Announces $200 Million Small Business Grant Program “Revive Plus”

Governor Ivey Announces $200 Million Small Business Grant Program “Revive Plus” On Wednesday, Governor Kay Ivey announced Revive Plus, a $200 million grant program to support small businesses, non-profits and faith-based organizations in Alabama that have been impacted by COVID-19. Revive Plus is the second wave of funding for these organizations with 50 or fewer…
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2020 Tax Planning Tips: Part 1

Over the next several weeks, we’ll be highlighting numerous tax planning techniques to minimize your bill. These tips apply to individual taxpayers and businesses alike. We also encourage you to review our blog post on the tax platforms of each Presidential candidate—that will give you some great insight into what to expect from Biden over…
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James Moody Appointed Chair-Elect of the ASCPA

Dent Moses is pleased to announce that James Moody has been appointed to serve as Chair of the Alabama Society of Certified Public Accountants (ASCPA) for a one-year term beginning in June 2021.  The ASCPA is the statewide, professional membership organization representing over 6,000 Alabama CPAs in public practice, industry, government, and education. On being…
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Election 2020: Trump vs. Biden on Corporate Tax Policy

The Democratic and Republican conventions have put a spotlight on this fall’s presidential election, and with that in mind, Top 10 Firm Crowe LLP has released this handy at-a-glance summary of the two candidates’ proposed policies for corporate taxes. (See the firm’s summary we shared of their tax policies for individuals .) CORPORATE RATE Trump-Lower the corporate tax…
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