Blog posts from: 2020
New 90-day Delay in Tax Payment Deadline Offers Relief to U.S. Taxpayers
Treasury Secretary Steven Mnuchin announced that individuals and corporations can delay their tax payments for 90 days due to the coronavirus pandemic. Individuals can defer up to $1 million in payments for 90 days from the April 15 deadline and...
Important Client Update from ShindelRock
To our clients and friends: Given the current environment, ShindelRock is taking every precaution possible to ensure the safety and health of our team and our families, as well as those of our clients and colleagues. Therefore, given the recommendations put...
SCAM Alert: Coronavirus fraudsters add to the anxiety and misery
From the Association of Certified Fraud Examiners: Disaster fraud has become so common that many U.S. federal agencies were quick to create websites to address coronavirus-related scams, complete with tips and sharable graphics for users to link to on social media. Some...
Selling your home to a related party?
Most transfers of property, or property interest without adequate consideration are deemed a gift. This would include a below-market sale of a home, which frequently happens when selling to a related party. The difference between the fair market value and the...
Tax tips for gig workers
According to a recent article in Forbes, there are some common dos and don’ts for gig workers when it comes to taxes that are often overlooked. Here’s a quick summary. Make quarterly estimated payments Federal income taxes in the U.S....
What happens to tax basis upon death of a business partner?
Upon death, the decedent’s estate is required to report as tax basis for estate tax purposes the fair market values of all applicable assets—either the values at date-of-death, or at the alternate valuation date, if elected. If the value of...
Meet the SR Staff: Intern Ira Dixon
Meet the second of our 2020 tax season interns, Ira Dixon: What are you doing during your internship at ShindelRock? What do you hope to come away with at the end of the term? During my internship, I am learning...
Charitable donations of virtual currency
According to the IRS, a charitable organization that receives virtual currency (such as Bitcoin) should treat the donation as a noncash contribution. Such contributions must be reported on a Form 990-series annual return and its associated Schedule M, if applicable....
Meet the SR Team: Intern Alexa Edwards
Meet the first of our two tax season interns, Alexa Edwards: What are you doing during your internship at ShindelRock? What do you hope to come away with at the end of the term? During my time here at ShindelRock,...
ShindelRock brings tax tips for business owners to WJR radio
We're kicking off an 8-week series on WJR-AM radio in Detroit on Monday featuring ShindelRock partner Maria Montie sharing tax tips for business owners. Tune in and let us know what you think!