Time Period to Claim is Ending In a Few Months As a small business (under 500 employees), you may qualify for the Employee Retention Tax Credit (ERTC). With the ERTC, tax credits of up to $26,000 per employee may be...
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It has been a period of time since I last published a blog but I am hoping that this starts more frequent publications. I would like to thank everyone for their well wishes during my rehab from surgery and for the understanding when I was out of the...
Will the Paycheck Protection Program Get Extended? The Paycheck Protection Program expired on June 30, 2020. The program expired with almost $130 billion unused. The question came up - What is to come of that money? We may...
Coronavirus and Taxes Part 10 Paycheck Protection Program Loan Forgiveness Changes - AGAIN June 9, 2020 The rules to the Paycheck Protection Program keep changing faster than I can write about it. On Friday June 5, I published the...
Coronavirus and Taxes Part 9 Paycheck Protection Program Loan Forgiveness Changes All for the Good Update on Stimulus Payments June 5, 2020 Well that didn’t take long. I wrote on May 23 that there will probably be...
Paycheck Protection Program Loan Forgiveness The Requirements: What You Need to Know May 23, 2020 NOTE: This is a longer than usually newsletter but the information in this newsletter is of extreme importance to those that have...
Stimulus Payment Update May 9, 2020 BACKGROUND INFORMATION: The federal government has been sending out the stimulus checks to people who qualify to receive the payment. As I stated previously these checks will be sent to you...
Coronavirus and Taxes - Part 6 State Filing Extension Date Update and the SBA Loan Programs April 2, 2020 In my Coronavirus and Taxes Part 5 update I dealt with the stimulus payment that was created by the passing of the Coronavirus Aid,...
The Stimulus Payment and Other Clarifications Frequently Asked Questions On Friday March 27, 2020 Congress sent to President Trump and he signed a massive 880 page plus bill called the Coronavirus Aid, Relief, and Economic Security Act (CARES...
As of this writing we are all still waiting for Congress to come to an agreement on an economic stimulus package due to the Coronavirus – COVID-19. While there has been a lot of different proposals floated in the press, I make it a...
In what I believed should have been announced from the outset was announced today: The IRS filing date of April 15 is now July 15. This is not a deferment period to pay but the actual due date for 2019’s individual income tax...
As a follow up to my March 18, 2020 posting, the IRS has issued guidance concerning the extension to pay your taxes due to the Coronavirus. When I published the March 18 blog we knew two things were certain: Tax returns are still due...
I have wanted to communicate with you concerning the Coronavirus and the impact on your tax return but there has been nothing to report until now. Secretary of the Treasury Steven Mnunchin announced at a press conference on March 17, 2020 an...
Are you a small business? Did you pay a sub-contractor, a landlord, an attorney during the past year? If you did you may be required to send those that you pay a 1099. The IRS has strict guidelines concerning these payments and has...
This is one of those times when you will have to forgive me for not putting a lot of words out there. It may still take another day or two to get the mind right after the end of tax season. But let me start with two important words – thank...
It’s not often during tax season that I feel like I get a chance to breathe, but I have had that chance over the past week. The political landscape has calmed as the lack of a shutdown threat has let the tax season progress in a more regular...
A lot of people are talking about taxes this time of year, myself included. This talk comes in many different forms from many different directions. Maybe sometimes, though, we are missing some of the basic things. This struck me...
It’s that time of year again. It’s not the first time we’ve heard it, but talk is coming again about Donald Trump’s tax returns. With the Democrats holding power in the House of Representatives, the chance that those returns will be seen...
TAX SEASON HAS STARTED It feels almost unreal, but it is true – tax time is finally here. The filing season officially opened on Monday, January 28, which came with the added benefit of happening after the cessation of the government shutdown. Now...
It is that time of year. Your child is home from college or your high schooler is going to get a job for the summer. Whatever the job is your child is getting the child’s employer will have them complete some forms so they can get paid. These forms...
