In the News

By: Yaёl Bizouati-Kennedy | Source: Yahoo! Finance

“People hear the phrase ‘death and taxes’ and think neither can change. While death doesn’t change, taxes certainly do. Or rather, the rules governing them change all the time,” said Howard Dvorkin, CPA and chairman of Debt.com. “The most important fact to know is that deductions come in two flavors: standard and itemized. Each reduces your taxable income. Sadly, you can’t use both at the same time. You must choose.”

By: Yaël Bizouati-Kennedy | Source: GOBankingRates

“Doing taxes is like renovating a house. If it goes according to plan, everyone is shocked — including the professionals hired to do the job,” said Howard Dvorkin, CPA and chairman of Debt.com. “In both cases, people can seldom predict what they’re going to find once they dig in. If someone has had any change in income — for better or worse — the only surprise would be having no surprises.”

By: Nicole Spector | Source: Yahoo! Finance

“Call your Human Resources Department,” said Howard Dvorkin, CPA and chairman of Debt.com. “You might have work benefits that offer tax breaks. These are pretty specific.

By: Sasha Jones | Source: NBC 6 South Florida

“A lot of clients come in and say they don’t like filing electronically, and I say, why not. There is no reason not to in this day and age,” Howard Dvorkin, a certified public accountant, said.

By: Leyla Gulen

Debt.com chairman, Howard Dvorkin, CPA, discusses how the COVID-19 pandemic contributed to an increase in day-to-day living costs.

By: Maryalene LaPonsie

“If the pandemic has taught us anything, it’s to make sure we have enough items at home to last us for a while,” says Howard Dvorkin, certified public accountant and chairman of personal finance site Debt.com. That advice isn’t limited to pantry items either. “If your old personal computer kept crashing and it was … a major problem during Zoom meetings, this is the time to get a new one.”

By: Nicole Spector | Source: GoBankingRates

It’s everyone’s favorite time of year: tax season! This year individuals have until May 17 to file their 2020 federal income taxes (versus the pre-COVID-19 date of April 15, which only quarterly payers need to heed).

By: Brittany De Lea | Source: Fox Business

Small business owners have taken a hit from the coronavirus pandemic, and now some experts are concerned that they may see their tax obligations rise as a result of proposals expected from President Biden.

By: Maryalene LaPonsie | Source: U.S. News & World Report

To assure you don’t become a victim, watch out for these five red flags of an IRS tax scam.

By: Brittany De Lea | Source: Fox Business

This year’s tax filing deadline is approaching – and as coronavirus cases continue to rise in many states throughout the United States, some experts believe the IRS may consider additional penalty relief in the coming months.

By: Brittany De Lea | Source: Fox Business

The question of whether the government intended to reduce the worth of the Paycheck Protection Program loan or if it was red tape oversight doesn’t really matter since the result remains the same. The IRS has issued guidance for business owners that prevents a tax deduction claim for a forgiven PPP loan, ensuring no one receives a double tax benefit. However, these high-quality low-interest-rate loans are a clear advantage for businesses fighting the coronavirus pandemic.