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Top 10 Blogs of 2021

January 03, 2022

The process of paying off a late loved one’s taxes, increased EIDL loan limits and the tax impact on auto trade ins interested our readers most in 2021. Check out our top ten most read blogs of last year.

  1. Am I Responsible for a Deceased Loved One's Unpaid Tax Bills? Have you recently experienced the death of a loved one? Wondering how their outstanding tax liabilities will be paid off after you and the estate’s executor have exhausted the decedent’s remaining cash and assets? This is a common situation, and luckily there are a few things you can do to ensure that the process of paying off a loved one’s taxes will be as painless as possible.
  2. SBA Increases EIDL Loan Limits: Here's How You Can Benefit Did you receive an economic injury disaster loan (EIDL) from the Small Business Administration (SBA)? While these loans were previously limited to $150,000, the SBA announced in April that the limit has been increased to $500,000. Our blog shares what you need to know about the changed loan limits.
  3. What is the Tax Write Off for Margin Interest? Margin interest is a type of investment interest expense, in other words any amount of interest that is paid on loan proceeds used to purchase investments or securities. Can you deduct it on your 1040? Yes! Our blog has the details.
  4. How Do Taxes Affect Auto Trade Ins? Hoping to trade-in your vehicle for a new one? The Tax Cuts and Jobs Act brought some good news in this area. Learn more about what has changed regarding auto trade-ins.
  5. Turning 72 in 2021? Here Are Your RMD Requirements If you turned 72 in 2021, your first required minimum distribution (RMD) is due April 1, 2022. Read our blog for more. Also, if you’re turning 72 in 2022, read this blog.
  6. The Pros and Cons of Making the Grouping Election for Your Rental Real Estate Activities If you have several rental activities, and cannot meet the material participation rules for any single activity, the grouping election allowed under IRC §469 may be a good option. Here is what you need to know about the election.
  7. 5 Internal Controls for Handling Cash In Your Organization Does your organization still receive cash payments? It’s a good idea to have a safety net, but be sure to have internal controls in place. In this blog, we also discuss how to keep your control environment in place with many still working remotely.
  8. Form 990 Compensation Information Disclosure of compensation is a required part of an organization’s form 990. Although most people believe their compensation is confidential, that is not the case for nonprofit executives and independent contracts that meet certain criteria. Part seven of our 990 blog series details compensation disclosure.
  9. Do Triple Net Leases Qualify for the Section 199A Safe Harbor? Are you a real estate investor with triple net leases? Wondering if they’re eligible for the section 199A safe harbor? It’s a bit complicated…our blog provides clarification.
  10. Nonprofits, Are You Reporting Special Events Correctly? Hosting an auction, gala, marathon, golf event? While fundraising is an integral part of many nonprofits’ finances, accounting for these events sometimes proves to be challenging—Learn how to accurately report special events here.

Keep following our blog for the latest information on tax changes, Build Back Better Act (BBBA) updates, retirement advice and more. Note that some of the information reflected in these 2021 blogs may have changed.

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