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30
JUN
2020
Some people are required to return Economic Impact Payments that were sent erroneously

Some people are required to return Economic Impact Payments that were sent erroneously

Millions of people have already received their Economic Impact Payments, which are being sent by the government to help mitigate the effects of COVID-19. In some cases, the payments should be returned.
29
JUN
2020
Haven’t filed your 2019 business tax return yet? There may be ways to chip away at your bill

Haven’t filed your 2019 business tax return yet? There may be ways to chip away at your bill

The CARES Act, which passed in 2020, includes some retroactive tax relief for businesses. Some provisions may be beneficial on a tax return that hasn’t been filed yet (or you may be able to take advantage of them on an amended return if you already filed).
24
JUN
2020
SBA reopens EIDL program to small businesses and nonprofits

SBA reopens EIDL program to small businesses and nonprofits

Small business owners: More COVID-19 relief now available! The SBA has reopened its Economic Injury Disaster Loan (EIDL) and EIDL Advance program.
22
JUN
2020
SMALL BUSINESS TAX BRIEF FOR JUNE 22

Launching a business? How to treat start-up expenses on your tax return

In the midst of the COVID-19 crisis, some entrepreneurs are kicking off new businesses. Here’s how start-up expenses must be handled on a federal tax return.
17
JUN
2020
Re-evaluate your company’s competitiveness in a changed economy

Re-evaluate your company’s competitiveness in a changed economy

The economic slowdown caused by COVID-19 is shifting the competitive landscape in many industries. Business owners need to determine where they stand.
16
JUN
2020
If you’re selling your home, don’t forget about taxes

If you’re selling your home, don’t forget about taxes

Despite a slowdown in real estate sales this spring, many people are still selling their principal residences You may be able to exclude up to $250,000 ($500,000 for married joint filers) of gain. Here are the tax rules for home sales.
15
JUN
2020
Good records are the key to tax deductions and trouble-free IRS audits

Good records are the key to tax deductions and trouble-free IRS audits

A meticulous approach to keeping business records can protect your tax deductions and help make an audit much less painful.
10
JUN
2020
PPP Flexibility Act eases rules for borrowers coping with COVID-19

PPP Flexibility Act eases rules for borrowers coping with COVID-19

Has your business applied for a PPP loan or already acquired funds from this program? If so, the recently passed PPP Flexibility Act has made important changes to the rules.
09
JUN
2020
Seniors: Can you deduct Medicare premiums?

Seniors: Can you deduct Medicare premiums?

If you have medical expenses and you pay Medicare premiums, you know it can be expensive to get the coverage you want. But if you qualify, you can deduct the cost of premiums, along with other medical expenses, on your tax return. Here are the rules.
03
JUN
2020
Does your company have an emergency succession plan?

Does your company have an emergency succession plan?

Business owners are learning many things from the COVID-19 crisis. One of them is the importance of creating an emergency succession plan.