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Category: Professional Development

A Zoom Secret?

Posted on by Walter Moore

by Walter Moore

While things are slowly returning to normal, one thing from the pandemic that will continue is virtual meetings and webinars. While we discussed in a previous blog, ways to increase the resolution of your Zoom meetings, one secret I was not aware of, had been brought to my attention by Ryan Jennings of TaxSpeaker (thanks Ryan). They have a hidden HD setting that you do not control. Interesting right?

So for most with professional plans or business plans your max resolution is in fact 640p which they classify as “HD.” Now to the average consumer we think of an HD resolution as 720p or 1080p with the “Super HD” settings being 4K and now 8K. To get to the new 720p and higher resolution settings you will have to chat/call Zoom and request the higher resolutions. Currently, for their professional plan that is 720p, and for the business plan they offer a 1080p resolution. You will still need a camera and a good connection to give you the best resolution, but this is something to think about for your meetings. If you’re paying for Zoom you might as well get all you’re paying for.

If you have any questions please feel free to reach out to Walter by clicking here. 

News for Your Week Ahead: May 14, 2021

Posted on by Walter Moore

On this weeks’ episode of MSATP TV Marc Reibman of USB Payment Processing joins Executive Director Bill Feehley for an exciting new service they are offering to reduce those credit card processing fees!

Watch on YouTube.

Coming Up: On Thursday, May 20th at 10 a.m., MSATP President Barbara Smith will join Bill Feehley on MSATP TV to tell us about the Employee to Entrepreneur meeting coming up on June 15th.Tune in on Facebook for this episode and more!

IRS Extends Deadline to Apply for the 2022-2024 Volunteer Taxpayer Advocacy Panel | IR-2021-109

The Internal Revenue Service has extended the deadline for civic-minded volunteers to apply for membership on the Taxpayer Advocacy Panel (TAP) for 2022. Taxpayers may submit a TAP application online at www.improveirs.org through June 1, 2021.

The TAP is a federal advisory committee that listens to taxpayers, identifies major taxpayer concerns and makes recommendations for improving IRS service and customer satisfaction.

Taxpayers are encouraged to take this opportunity to make a difference in how the IRS delivers products and services. A video is available with information about the TAP and how to contribute to this dynamic group of volunteers.

For more information, please click here.

IRS Offers Overview of Tax Provisions in American Rescue Plan; Retroactive Tax Benefits Help Many People Now Preparing 2020 Returns | IR-2021-106

The Internal Revenue Service today provided an overview of some of the key tax provisions in the American Rescue Plan Act.

Several provisions affect the 2020 tax return people are filling out this filing season, including one exempting up to $10,200 in unemployment compensation from tax and another benefiting many people who purchased subsidized health coverage through either federal or state Health Insurance Marketplaces. In addition, the law also includes a third round of Economic Impact Payments, now going out to eligible Americans, that are generally equal to $1,400 per person for most people, as well as several other key changes for tax-year 2021.

For more information, click here.

IRS Grants Dyed Diesel Fuel Penalty Relief Due to Disruptions of the Fuel Supply Chain | IR-2021-108

The Internal Revenue Service, in response to disruptions of the fuel supply chain, will not impose a penalty when dyed diesel fuel is sold for use or used on the highway in the States of Alabama, Delaware, Georgia, Florida, Louisiana, Maryland, Mississippi, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and the District of Columbia.

This relief is retroactive to May 7, 2021, and will remain in effect through May 21, 2021.

This penalty relief is available to any person that sells or uses dyed diesel fuel for highway use.  In the case of the operator of the vehicle in which the dyed diesel fuel is used, the relief is available only if the operator or the person selling such fuel pays the tax of 24.4 cents per gallon that is normally applied to diesel fuel for highway use.

For more information, click here.

IRS Issues Guidance on Taxability of Dependent Care Assistance Programs for 2021-2022 | IR-2021-105

The Internal Revenue Service today issued guidance on the taxability of dependent care assistance programs for 2021 and 2022, clarifying that amounts attributable to carryovers or an extended period for incurring claims generally are not taxable. The guidance also illustrates the interaction of this standard with the one-year increase in the exclusion for employer-provided dependent care benefits from $5,000 to $10,500 for the 2021 taxable year under the American Rescue Plan Act.

Because of the pandemic, many people were unable to use the money they set aside in their dependent care assistance programs in 2020 and 2021. Generally, under these plans, an employer allows its employees to set aside a certain amount of pre-tax wages to pay for dependent care expenses. The employee’s expenses are then reimbursed from the dependent care assistance program.

For more information, click here.

Filing Season Reminder: Military Members and Their Families May Qualify for Special Tax Benefits | Tax Tip 2021-65

With the filing deadline around the corner, the IRS reminders members of the military that they may qualify for special tax benefits. For example, they don’t have to pay taxes on some types of income. Special rules may lower the tax they owe or allow them more time to file and pay their federal taxes.

Here are some of these special tax benefits:

  • Combat pay exclusion: If someone serves in a combat zone, part or all of their pay is tax-free. This also applies to people working in an area outside a combat zone when the Department of Defense certifies that area is in direct support of military operations in a combat zone. There are limits to this exclusion for commissioned officers.
  • Other nontaxable benefits: Base allowance for housing, base allowance for subsistence and uniform allowances are among several government pay items excluded from gross income, which means they are not taxed.
  • Moving expenses: Some non-reimbursed moving expenses may be tax deductible. To deduct these expenses, the taxpayer must be a member of the Armed Forces on active duty and their move must be due to a military order or result of a permanent change of station.
  • Deadline extensions: Some members of the military – such as those who serve overseas – can postpone most tax deadlines. Those who qualify can get automatic extensions of time to file and pay their taxes.
  • Earned income tax credit: Special rules allow military members who get nontaxable combat pay to choose to include it in their taxable income. One reason they might do this is to increase the amount of their earned income tax credit. People who qualify for this credit could owe less tax or even get a larger refund.
  • Joint return signatures: Both spouses must normally sign a joint income tax return. However, if military service prevents that from happening, one spouse may be able to sign for the other or get a power of attorney. Service members may want to consult with their installation’s legal office to see if a power of attorney is right for them.
  • Reserve and National Guard travel: Members of a reserve component of the Armed Forces may be able to deduct their unreimbursed travel expenses on their return. To do so, they must travel more than 100 miles away from home in connection with their performance of services as a member of the reserves.
  • ROTC allowances: Some amounts paid to ROTC students in advanced training are not taxable. However, active duty ROTC pay is taxable. This includes things like pay for summer advanced camp.

Special filing software. Miltax is free tax resource available for the military community, offered through the Department of Defense. There are no income limits. MilTax includes tax preparation and electronic filing software, personalized support from tax consultants and current information about filing taxes. It’s designed to address the realities of military life – including deployments, combat and training pay, housing and rentals and multi-state filings. Eligible taxpayers can use MilTax to electronically file a federal tax return and up to three state returns for free.

Filing Season Reminder: Social Security Benefits May Be Taxable | Tax Tip 2021-66

Taxpayers receiving Social Security benefits may have to pay federal income tax on a portion of those benefits. Social Security benefits include monthly retirement, survivor, and disability benefits. They don’t include supplemental security income payments, which aren’t taxable.

The portion of benefits that are taxable depends on the taxpayer’s income and filing status.

To find out if their benefits are taxable, taxpayers should take half of the Social Security money they collected during the year and add it to their other income. Other income includes pensions, wages, interest, dividends, and capital gains.

  • If they are single and that total comes to more than $25,000, then part of their Social Security benefits may be taxable.
  • If they are married filing jointly, they should take half of their Social Security, plus half of their spouse’s Social Security, and add that to all their combined income. If that total is more than $32,000, then part of their Social Security may be taxable.

Fifty percent of a taxpayer’s benefits may be taxable if they are:

  • Filing single, single, head of household or qualifying widow or widower with $25,000 to $34,000 income.
  • Married filing separately and lived apart from their spouse for all of 2020 with $25,000 to $34,000 income.
  • Married filing jointly with $32,000 to $44,000 income.

Up to 85% of a taxpayer’s benefits may be taxable if they are:

  • Filing single, head of household or qualifying widow or widower with more than $34,000 income.
  • Married filing jointly with more than $44,000 income.
  • Married filing separately and lived apart from their spouse for all of 2020 with more than $34,000 income.
  • Married filing separately and lived with their spouse at any time during 2020.

Revenue Procedure 2021-25, Inflation Adjusted Amounts for Health Savings Accounts

The IRS releases Revenue Procedure 2021-25, which provides the 2022 inflation adjusted amounts for health savings accounts and the maximum amount that may be made newly available for excepted benefit health reimbursement arrangements.

Revenue Procedure 2021-25 will be published in Internal Revenue Bulletin 2021-21 on May 24, 2021.

For more information, please click here.

TE/GE Job Announcements

The IRS has announced multiple full-time positions in the Tax Exempt/Government Entities division available across the country. These job announcements close soon, so apply today on USAJOBS.gov to become part of our team.

We’re hosting virtual information sessions for these job openings. Hear from employees currently working in these positions and gain a better understanding of the work they do day-to-day. A representative from HR will also discuss the application process and some of the requirements for the positions.

    • Thursday, May 13 at 2 – 3:30 p.m. ET
    • Monday, May 17 at 4 – 5:30 p.m. ET
    • Thursday, May 13 at 4 – 5:30 p.m. ET

Follow the IRS on social media and sign up for e-News newsletters

Everyone can follow official IRS social media accounts and sign up for e-News newsletters to get the latest alerts and information on a wide-range of tax topics.

These platforms are especially important right now. COVID 19-related relief, changes to filing and payment deadlines, and new business credits and Economic Impact Payments make these free and reliable communication channels crucial for anyone wanting the most current information.

Ransomware?

Posted on by Walter Moore

by Walter Moore

I’m sure everyone has heard about the ransomware attack that has happened to the Colonial Pipeline which has created a frenzy amongst excitable personalities and created a line only Walt Disney himself could appreciate for one of his many amusements at the gas pump. Many ask what is ransomware? Ransomware is usually an attack in which an email or some other means to transfer a file which is in fact malicious software that denies you access to your systems or computer. To regain access you must pay the theives a “ransom” to regain access usually through cryptocurrency as the money cannot be traced. One might ask, well why would anyone click such a link? Well let’s dive into that.

Usually what a criminal will do is hack into an email exchange to gain access to folks emails. They will look and see an email account and attempt to replicate the email server data thus gaining access to your accounts without the actual owner of the account knowing. Usually this is because many do not secure their accounts and systems with 2 factor authentication which would notify you if someone else has attempted to gain access. The attacker will then go through the emails of said victim, spoof the account and send out emails to anyone while attaching a link to their ransomware software which to most will call a virus. When you click this suspicious link and download the software you have given them access to your computer and now they are in control and can lock down your computer and/or systems until you pay a ransom to them.

So one might ask who is suseptible to a ransomware attack? Well as an accountant, you have a lot of valuable information so you’re highly suseptible. To prevent such an attack, never ever click links to an email you don’t trust. If you see a link from someone you do trust, hover over it without clicking to see where it leads and read the link. If it looks even slightly off call that individual to see if they actually sent it. Phishing emails should be deleted and the sender blocked and always have 2 factor authentication on your accounts. At the end of the day slowdown and read an email closely especially if you see any links. Another trick is with fake PDF links that look like attachments. Hover over the attachment and make sure it’s a PDF file and not a link to a malicious website.

An ounce of prevention can keep you safe. If you have any questions, please feel free to reach out by email walter@msatp.org.

A gaming monitor?

Posted on by Walter Moore

by Walter Moor

As many of us continue to work from home we may be looking at adding a monitor to the home office. Before you do, I welcome you to consider a wide gaming monitor.

Well what is a gaming monitor? A wide gaming monitor is a very wide and curved monitor which you can use as a normal monitor. Instead of needing two screens you will only need one and many are curved so you still get the immersive feel of two monitors in one. They are very wide and can display your information in split screen similar to what you get in a two screen set up. This is especially useful if you do not use a docking station for your computer and only have one visual output.

One thing to note is gaming monitors are more expensive as they also feature high refresh rates and higher resolutions. Despite the price these monitors can be a huge benefit to your home office.

If you have any questions please feel free to reach out to me via email walter@msatp.org

USB Issues? There is help with that.

Posted on by Walter Moore

by Walter Moore

You may be one of those that has recently purchased one of those new external disk drives at the Costco sale. 8TB for $100 that was a Black Friday deal come early! Now for some of you with an older computer or laptop you plugged it in and got a message that your USB did not support the USB 3.0 speeds. Well what does that mean you might ask?

Back when USB technology first arrived or USB 1.0, the big rectangular style plugs that we still know today, the transfer rate only went up to 12 megabit per second. At the time, like anything in the 90s including a floppy drive, was state of the art. We even had external hard drives then, you just needed what was called an enclosure and you pretty much made your own external disk drive. Now you may have noticed your new USB plug has changed colors, it is blue. Well what does that mean? That means the usb plug is now either a 2.0 or 3.0 port. You will notice new computers have blue ports for your USBs as well. The latest 3.0 technology tranfers data at a blistering 5 gigabit per second or for comparison 625 megabits per second. That is what allows that new massive disk drive you just bought to quickly transfer data onto the drive.

Now for you older desktop users there may be a USB 3.0 module that you can put into your computer to upgrade your ports IF your motherboard is compatible. For laptop users, you might be able to find a computer repair company that can make the change, but more than likely you will have to put that on your wish list in the next laptop.

I hope this tip helps!

If you have any questions contact me walter@msatp.

Computer a Little Slow? A Possible Solution!

Posted on by Walter Moore

by Walter Moore

With these new laptops out here, especially the higher end workhorses good can be made better! If you have an older premium end laptop, you probably paid a nice amount money when you purchased it. As time goes on and applications get bigger and more advanced you may notice your computer slowing down. This is due to how much RAM or memory the application uses for the newer and more advanced features.

Most premium end laptops do not come maxxed out on memory as surprisingly as that sounds. So if you find it being slow, if you are into working on your own computer you can open up the computer and take out the “stock memory” and put in a larger and more capable set of memory cards. So if your computer’s motherboard can handle up to 32 GB and you only have 16 GB of memory you have plenty of room for growth. This will not only be a simple upgrade but it will save you from buying a new laptop for another few years.

Be mindful there is a lot of different types of memory cards out there and you will need to see the capacities of your motherboard. The best place to start is to look up your computer’s model number so you can see what type of memory card you need and what the maximum is. Another resource is your IT support company as they will be able to do the research and possibly the install.

I hope this tip saves you money and helps you to get a little more life out of your current computer before replacement.

If you’d like to reach out to me, please do so a walter@msatp.org.

 

A Standing Desk? Give it a Try!

Posted on by Walter Moore

by Walter Moore

I remember when Varidesk was the new hot advertised item for offices when they arrived on the scene in 2013. These compact yet interesting pieces of engineering fit on just about any desk, were capable of holding two or more screens and at the squeeze of two levers and a little pull, could transform into a standing desk for a host of benefits including easing back pain brought on by sitting at a desk for long periods of time. Soon Varidesk would begin to offer other options including desks themselves that could transform.

Fast foward to 2020 and now 2021, most of us have gone to a work from home setting where we are using subpar office furniture for office use. Now I’m sure many including myself have developed new aches and pains within this setting and are looking for some relief. While a Varidesk is probably the most well known leader for these standing desk options I recently found a new little less expensive option while browsing Sam’s Club, Costco and even Amazon, an electronic standing desk. These come in a wide variety of finishings to match the house decor but their most amazing feature is now at the push of a button the table will raise and lower completely on it’s own. Once you’ve achieved the desired height you can save the setting by pushing and holding one of it’s numbered preset options. Many even have a display which lets you know how high the table is raised so you can see where it’s set and have a more precise measurement of what is going on.

Costco and Sam’s Club members can find these electric desks in the office supply sections of the stores next to where you would find office supplies and furniture. If you are a prime member with Amazon simply search “electric desk” and you will a host of styles, colors and options to choose from delivered to your door. Some desks even have wireless charging for your cell phone which I find is a nice added touch.

I hope this tip helps you relieve some of the aches and pains from the work from home environment.

If you need help please feel free to reach out to me by email walter@msatp.org.

Virtual Meeting a Little Grainy?

Posted on by Walter Moore

by Walter

Throughout the COVID-19 pandemic, the use of our webcam has increased exponentially. What was once just a fun add-on for a laptop or an accessory for a desktop is now a necessity. While the feeds are a massive improvement from the early days of dial-up and DSL internet, there is always room for improvement. While your internet connection is probably enough to get the job done one issue is with the camera itself.

If you’re a hobby photographer you probably know that sensor size, quality, and the ability to adjust the settings of your camera are everything. For a webcam, this is no different. A built-in webcam for a laptop is a tiny mirrorless sensor camera that has a fixed aperture. The only things that can be adjusted, and this is usually done automatically, are the shutter speed and ISO. You will notice it making adjustments for example when you first start the camera for a webinar. It generally starts as a darker image and then brightens up. If you sit in a room with variable lighting, such as a room with many windows, you will notice the image adjusts to your lighting as the lighting changes. To help your built-in camera give the best possible image sit in a room with good lighting so the camera can use the lowest ISO setting possible. High ISO is what produces that grainy look you see when people are in dark rooms. The shutter speed will also be a little faster to compensate for any movement so your viewers get a much smoother, sharper, and clearer image of you.

Another option is to get a better webcam. While most webcams boast 720HD if your viewer has a full-screen view of you the quality of the image will leave something to be desired. Not all 720 resolution is the same especially given the bitrate of most video conferences is pretty low. Low bitrate means not a lot of data is being transmitted, so the image generally is smoother and less susceptible to having issues. Now while there is a limit here, you can use a better camera with a bigger sensor size that allows it to take in more light and data. So if you’re in a poorly lit room a better webcam with a larger sensor won’t have to adjust as much to produce an image. Some even have wider or variable apertures to allow the camera to take in more light before adjusting ISO which introduces that grain or noise.

Lastly, check your settings in your video conferencing service. Some offer HD plans which have more bandwidth than their standard plan. More bandwidth means more data from that camera can be transferred through the service. So if you’re using a higher quality webcam or broadcasting from say a full-frame camera you can get that nice sharp high definition look you’re looking for.

If you have any questions please feel free to reach out to me at walter@msatp.org.

Returning to the Office Part-Time? This may be a Tip for You!

Posted on by Walter Moore

by Walter Moore

As the new normal returns some of us may begin to return to office in a staggered or part-time fashion. While many of us have laptops now, one thing you may note is “I have all this equipment that connects to my computer now so what do I do? Do I need to plug all that in and unplug it all the time?” Well that is simple with an old solution, a docking station. This piece of equipment, while once a staple in the corporate world I’ve noticed with some offices, having all-in-one computers, virtual desktops and even still compact desktops, we moved away from laptops with a docking station.

A docking station connects to your laptop by a single port, typically by standard USB or even USB-type C connection (to my newer android users this is the same style cable you use to charge your phone). This connection allows your computer in many cases to charge, utilize up to 3 or even 4 screens using various connections depending upon the docking station, internet access and even expand the amount of USB ports your laptop has. Best of all you can leave everything plugged in at home and have a second docking station at your office. Your new one plug connection allows you to plug in and have full access to your equipment.

One thing to be sure of is to make sure the docking station matches your laptop. With their being so many laptops and specifications available I highly recommend contacting the laptop manufacturer or your IT department to determine which is best. I hope this professional blog helps you as you make the best possible transition into your new normal.

– Walter Moore

Maintaining a Healthy Work-Life Balance During COVID-19

Posted on by Walter Moore

Unfortunately, due to the COVID-19 pandemic many professionals have found themselves at home for an extended amount of time. Achieving a good work-life balance takes careful thought and planning to avoid increased amounts of stress and burnout in your work.

Before the pandemic we found it much easier to switch off work as we would leave the office and head home. Now home is the office and vice versa. To help break up this new norm we have 3 helpful hints which can help the home professional.

1. Take Breaks

In the office we often would have a coffee break or meet with a coworker to have a mental break from our tasks. Even though you are apart from coworkers, still take a 15 minute break every couple hours just to break up the day. Also, be sure to have a lunch break as you normally would so you can not only replenish your body with nutrients but also mentally.

2. Disconnect and “Go home” on time

Make sure when you are done with your work day, at your normal time to completely disconnect unless it is an absolute emergency. Spend your evening enjoying time with your family which is the reason you are staying at home, to protect them from COVID-19. This is our natural time to relax and recuperate from a stressful work day.

3. Keep in touch with friends and family

While in-person meet ups are often discouraged, set up a virtual get together to touch base with friends and family. While this is not optimal, you can still connect and talk about life and maintain social interactions with friends and loved ones. If you are able to meet at a park or open public area while maintaining safe social distancing, this is also a good practice just to break up the “cabin fever.”

We hope these tips and tricks help you in your professional life and keep you in a better mental state. We here at MSATP wish you and your family a happy and healthy life and want everyone to stay safe during this difficult time.

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