Hooper & Rodgers PC

Coronavirus: What to Do if You’re Out of Work

Coronavirus: What to Do if You Are Out of Work No hype here—just solid, level-headed advice on what to do if you’re out of work because of the coronavirus.

TAX CLIENT UPDATE (COVID-19)

As the coronavirus (COVID-19) continues to spread within the United States and internationally, Hooper & Rodgers, PC is continuing to closely monitor the situation, as well as take the necessary steps to protect the safety of our clients and employees.

We have the capability to share data with our clients electronically and without a physical presence. We have included these options below.

- Electronic delivery of tax returns
- E-file authorization forms can be signed and faxed to (972) 771-0225 or emailed to [email protected]
- Tax support can be uploaded securely via a link sent by our office
- Pay invoices from your computer or mobile device on our website

If you are unable to upload your tax support via the secure link, we will have a box at the door of our office for you to leave your tax documents. Please call to let us know that you have dropped your documents off so that we can immediately gather them and discuss any necessary items. Upon completion of the tax return, we will be in contact with further instructions on pick up.

At this time, we will not be scheduling any face to face meetings. If you would like to discuss your taxes with one of our CPAs, please call our office to schedule a telephone conference.

We remain committed to delivering the quality and timely service that you expect from our tax team. Thank you for your understanding.
Please call our office with questions or concerns.

Sincerely,

Carrie Rodgers
[email protected]
972-771-0222

Direct Pay | Internal Revenue Service IRS Direct Pay is a secure service to pay your taxes for Form 1040 series, estimated taxes or other associated forms directly from your checking or savings account at no cost to you.

Here’s the updated strategy: deduct your client and business meals as if tax reform never took place.

Wow. Is this aggressive? Not if

• the IRS comes out with regulations that follow a model set by the American Institute of CPAs, or
• the Joint Committee on Taxation in its explanation of the Tax Cuts and Jobs Act (TCJA) states that client and business meals continue as deductions, or
• lawmakers enact a new tax code section that authorizes client and business meal deductions.

How big is the “if” in the if? We have some insights that say business meals will be deductible for all of 2018. Of course, nothing is certain except the current uncertainty.

Let’s put it this way: if you do what you need to do to deduct the meals, then you are in a position to claim the business meals deduction when one of the above happens. So, make sure you have your 2018 business meals documented as follows:

• The name of the person you had the meal with.
• The name of the restaurant where you had the meal.
• A short description of the business discussed.
• If the meal costs $75 or more, keep the receipt that shows the name of the restaurant, number of people at the table, and itemized list of food and drink consumed.