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Sills and Associates PA
4400 Silas Creek Parkway
Suite #200
Winston-Salem, NC 27104
(336) 768-3290


Section 139 — How to provide your employees with tax-free COVID-19 relief

The COVID-19 pandemic has led to a surge in unemployment. And while people who have been furloughed or lost their jobs are among the hardest hit by the pandemic, those who remain employed have also experienced financial hardships. This article explains how Section 139 provides incentives for employers who wish to provide their employees with assistance. A sidebar details what qualifies as a “disaster. 

Are you liable for “nanny taxes”?

During the COVID-19 pandemic, day care centers have closed and many schools have switched to a remote learning model. As a result, working parents have had to scramble to make alternative child care arrangements, which may include hiring nannies or babysitters. This article explains the tax obligations of employing household workers.

Easing the pain of the NIIT on your estate plan

The 3.8% net investment income tax (NIIT) can negatively affect one’s estate plan. This is especially true if assets include an investment portfolio, because the NIIT can increase the tax on capital gains, taxable interest and other investment income, thus reducing the amount of wealth available to loved ones. This article explains ways to ease the tax bite of the NIIT on an estate plan.

Tax Tips

These brief tips explain a taxpayer’s options if he or she is unable to pay their taxes on time; explore the benefits of making annual exclusion gifts; and detail new IRS guidance regarding business meals and entertainment.

This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and accordingly assume no liability whatsoever in connection with its use. ©2020 • 

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Sills and Associates PA · 4400 Silas Creek Pkwy Ste 200 · Winston Salem, NC 27104-3823 · USA