This video is an abbreviated summary of President Biden’s COVID Relief & Tax Plan. Of course, these won’t become law until the plan has been passed by Congress. Once passed, the purpose of the plan is to assist people to fight financial hardships from the pandemic. The plan contains various ways to help, including stimulus …
Tax Blog
Tax Relief for Victims of 2020 Natural Disasters
Tax relief for victims of natural disasters? Yes! Most of us will always remember the year 2020 as the year of the mask. But on top of the worldwide pandemic, street protests, and hotly contested election races, the U.S. had numerous natural disasters in 2020; hurricanes, an unprecedented number of wildfires, flooding and severe windstorms …
Video: COVID Tax Relief Act updates
December’s COVID Tax Relief Act provided more than extended unemployment relief and stimulus payments. Watch a summary of the benefits in the video, and if any of them applies to you. Please contact us if you have questions about the COVID Tax Relief Act and how it could affect you. We offer a free tax …
New Business Tax Issues to Consider in 2021
When starting a new business, tax issues – along with everything else – can feel overwhelming and unsurmountable. But in spite of COVID-19 restrictions, many entrepreneurs are still considering new or additional business opportunities. If you are planning a new business start-up and are incurring expenses, here are some specific tax issues to be aware …
Obscure and overlooked tax deductions, credits, and benefits
As tax time approaches, we’ve listed out some frequently overlooked tax deductions, credits and benefits that cover a range of taxpayers. Of course, not everything can be included. Since the tax law has grown significantly in complexity over the years – it would take a huge book to list everything! But here are over 20 …
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Tax time is around the corner! Are you ready for 2020 taxes?
It’s time to get ready for 2020 taxes now that tax season is just around the corner. If you are like most taxpayers, you are probably facing the ominous chore of compiling records in preparation for your tax appointment—whether in person, by video or telephone. The difficulty of this task depends upon how well you …
Tax time is around the corner! Are you ready for 2020 taxes?Read More
IRS Offers New Identity Protection for Taxpayers
Have you heard about the new identity protection for taxpayers that the IRS is now offering? In the past, the IRS has assigned verification numbers to victims of identity theft to file their tax returns. That is, if it requested by the victimized individual. The numbers are referred to as identity protection (IP) PINs. What …
BEWARE: These Tax Return Red Flags Could Catch the Eye of the IRS
No one wants to create tax return red flags that would make the IRS scrutinize their small business or personal income tax return. However tax time can be one of the most stressful times of the year due to that fear. Just preparing the forms is hard enough. But actually owing the government money can …
BEWARE: These Tax Return Red Flags Could Catch the Eye of the IRSRead More
4 Important Questions Entrepreneurs Should Consider During the 2020 Tax Season
As if filing taxes wasn’t challenging enough, this 2020 tax season is going to be even more complicated than usual. Though the CARES Act and the Paycheck Protection Program were put into place to help small businesses, the old adage about “no such thing as a free lunch” is proving true once again. Now that …
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