Coronavirus and Taxes Part 11

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...

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Coronavirus and Taxes Part 10

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...

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Coronavirus and Taxes Part 9

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...

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Coronavirus and Taxes - Part 8

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...

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Coronavirus and Taxes - Part 7

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...

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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,...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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