Really Dumb Tax Articles

ny covid

I have been reading articles like the one linked below and it reminds me yet again, how really ignorant the media is about taxes (or anything else requiring some thought). In fact, the list of tax ignoramuses in my book consists of

  1. Media
  2. Mortgage underwriters
  3. Most investment advisers
  4. Diners at Waffle House

The article decries the fact that NY is taxing the wages of those healthcare professionals who came to NY from out of state to help with the COVID patients. Why is this such a dumb article? The workers in NY would have to pay taxes on the same income to their home state – someone failed to read that memo. If the NY is allowed to tax it, then the home state will credit them for the NY taxes.

I was a Respiratory Therapist for 25 years and working in the worst areas of exposure is the equivalent of combat. I get that and support whatever things can be done to reward those that put themselves in harm’s way during our national emergency. But this is just another example of how the media sensationalizes by omission.

Here is one of the articles: NY Taxing Out of State Healthcare Workers

Free Housing for Front Line Workers

hotel

We’ve had this question multiple times in the last 2 weeks. Here is the scenario:

“My pay package includes a housing stipend because I am finding housing on my own. However, hotels are offering free stays for front-line workers, that is not provided by my company or the hospitals. At the hotel I do pay for parking. What will happen to the housing stipend if I accept the free stay at the hotel, considering I have to duplicate expenses?”

The answer is that you will need to duplicate expenses for lodging since the lodging is being provided by a third party. The solution is to pay SOMETHING to the hotel, maybe a tip to the housekeeping staff or for other amenities that they offer that you will use in the room.  Parking does not count as lodging expenses, unless you are a hippie! : ) Under the rules there needs to be SOME expense to trigger the exclusion of the per diems.

Get Ready for the Recovery Episode 2

surgery 2

In an earlier post, I pointed out that our home state was preparing to restart the elective surgeries that have been on hold during COVID. This piece of news is from Canada and although the Canadian health system has different logistics, the same pent up demand is present

Many of our healthcare clients are out of work or furloughed waiting for the procedures to begin. Its rough holding on but the recovery is coming so hang in there!

How Hospitals will Handle the Surgery Backlog

Relief for Those Stuck in the US due to COVID

covid world

This is for all those individuals and corporations with representatives that are not permanently living in the US but are working in the US temporarily or snowbirding.

A number of filing situations are triggered once an individual has spent more than 183 days in the US. Not every person is affected by this but some have delicate situations that are dependent on spending less than 183 days in the US (for example, FBAR filings, creating a Permanent Establishment etc.).

This week the IRS released guidance for situations where COVID prevents an individual from returning to their home country. Simply put, an individual will be able to exempt up to 60 days of presence in the US beginning at any date between February 1st and April 1st.

Here is the link to the announcement COVID and Days of Presence in the US

Healthcare Travelers – Get Ready for the Recovery

surgery

If you are thinking rationally about the COVID crisis, the next step is the slingshot that will occur to make up the delays in elective surgeries and then the baby boom that will come in December/January

Our firm’s home state is already starting the process

Resuming Elective Surgeries in SC

The lesson is that when things are negative, be in the position for the positive and vice versa.

IT’S YOUR STIMULUS CHECK FOR CRYING OUT LOUD!@!%

blah blah blah

Ahhhhhh- felt so good to say that!

Our phone and email inbox are being flooded by panicking herds with reactions ranging from surprise to serious accusations of negligence!

MY REFUND WAS LOWER THAN YOU QUOTED!!!!

SOMEONE DEPOSITED $$$ INTO MY ACCOUNT!!!

MY REFUND WAS MORE THAN YOU QUOTED!!!

my humble response…..

STOP BINGE WATCHING, GET YOUR PHONE OUT OF YOUR FACE AND PAY ATTENTION!!!! DON’T ANY OF YOU READ THE NEWS ???!!! IT’S YOUR STIMULUS CHECK!!!!!

Thank you 🙂