Coronavirus and Taxes Part 6

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, ...

Read More

Coronavirus and Taxes Part 5

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 ...

Read More

Coronavirus and Taxes Part 4

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 ...

Read More

Coronavirus and Taxes Part 3

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 ...

Read More

Coronavirus and Taxes Part 2

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 ...

Read More

Coronavirus and Taxes

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 ...

Read More

Need Help with Your 1099 Form? Deadline January 31st, 2020

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 ...

Read More

THANK YOU

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 ...

Read More

THINKING OF STARTING A BUSINESS

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 ...

Read More

Draw the Line: Business v Personal Expense

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 ...

Read More

Someone Wants to See Your Tax Return

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 ...

Read More

2018 Tax Season Begins

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 ...

Read More

Summer Employment – Completing the W 4

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 ...

Read More

Living with Tax Reform

Often throughout the year when I write about taxes, I know that many people don’t really want to hear about such things. I keep doing it, though, because I know that if I bring up topics that someone is worried about, we can help them. It may not be ...

Read More

Non Deductible Expenses – Political Contributions and Others

There are many hot phrases coming out of this presidential campaign cycle, but it is not all crooked locker room talk.  Taxes have also been getting lots of attention, and not just when it comes to which candidate’s plan you prefer. If you go to ...

Read More

IRS Scam Alert

It almost seems like a monthly rite of passage when the latest tax scam comes up that I have to cover in this spot. I almost can’t believe it sometimes, but as long as the IRS keeps putting out warnings, I feel it is my job to pass them along. At ...

Read More

Tax Return Procrastination

Last week, reports came out that fewer people were filing their taxes than had at the same point of calendar year 2016.  Bloomberg released an article that theorized taxpayer confusion was one of the reasons for this.  Although the current political ...

Read More

Issues That Can Trigger an Audit / Examination

On February 15, 2017 I posted a blog on What Triggers an Audit.  Because of the concerns that taxpayers have around this topic, I am continuing to share with you more information about audits as it remains - as it should be - a hot-button topic this ...

Read More

Affordable Care Act Status a/k/a Obamacare

During the election season I never touched on politics.  Since I never thought it was my place to take sides, I stayed on the sidelines.  Now there is a different issue that has come up and it has come up from a campaign promise of President ...

Read More

What Triggers an Audit?

I suppose it is not surprising that this is the time of year when people most think about the potential of a tax audit.  After all, many like to ignore all thoughts of taxes through much of the year, only letting them rise to the forefront when ...

Read More