Be Prepared for Pandemic Tax Surprises

Posted on 14. Jun, 2020 by in COVID-19, IRS, Retirement Accounts, Small Business Tips, Tax Tips

Numerous new laws provide economic relief to individuals and businesses hardest hit by this year’s pandemic. This much-needed financial assistance, however, comes with a few strings attached. Here are three potential surprises if you use the available economic relief packages: Getting a tax bill for unemployment benefits. While the $1,200 economic impact payments most Americans received […]

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Get Your Money: Ensure You Receive a Stimulus Payment

Posted on 12. May, 2020 by in COVID-19, IRS, Small Business Tips, Tax Tips

Your COVID-19 stimulus checks are in the mail! Find out how much you qualify for and when to expect the money. The IRS has two websites to help with stimulus payments: One for non-tax filers to register to receive their economic impact payment and a new “Get My Payment” tool. BackgroundAs a response to the […]

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Key 2020 Coronavirus Tax Changes

Posted on 06. May, 2020 by in Independent Contractor, IRS, Retirement Accounts, Tax Updates

As you navigate the COVID-19 pandemic, we’re here as your trusted tax and business advisors to provide guidance as we all traverse these uncertain times. Coronavirus uncertainty abounds. Thankfully, by monitoring tax changes on your behalf, we can work together to navigate the right path for you and your family. Here is a round-up of […]

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Social Security Retirement Calculator

Posted on 23. Apr, 2020 by in Services, Small Business Tips, Tax Updates, Website Resource

If you are approaching retirement and are not sure what your benefits would be at retirement or perhaps waiting until you’re 70, check out the Social Security Administration’s website and use their Retirement Estimator: https://www.ssa.gov/benefis/retire/estimator.html. This tool pulls your earnings history and provides you with a customized estimate of your benefit at your retirement age.

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Tax Deadlines Move to July 15

Posted on 09. Apr, 2020 by in Small Business Tips, Tax Updates

The April 15 federal income tax filing due date has been moved to July 15, the U.S. Treasury Department and IRS recently announced. Here is what you need to know: The due dates for all tax payments normally due April 15 have been pushed back 90 days to July 15, regardless of the amount owed. […]

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Recent COVID-19 Small Business Updates

Posted on 02. Apr, 2020 by in Small Business Tips, Tax Updates

Here are some valuable resources on recent changes that can impact Small Business owners: IRS rulings SBA loan offerings Tax Relief Stimulus bill As you know the IRS has extended the federal tax filing deadline to July 15.  What you might not know is that not all states have followed on this extension with the […]

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Coronavirus (COVID-19): Small Business Guidance & Loan Resources

Posted on 30. Mar, 2020 by in IRS, Revenue, Small Business Tips, Tax Updates

Health and government officials are working together to maintain the safety, security and healthy of the American people. Small businesses are encouraged to do their part to keep their employees, customer and themselves healthy. For all the latest resources visit www.sba.gov

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Finding the Balance of Income vs. Spending: The IRS primer every voter should know

Posted on 12. Mar, 2020 by in Tax Tips

Every year the IRS publishes instructions to prepare your Form 1040, individual tax return. The publication for 2019 is a whopping 108 pages! On page 103 of the IRS booklet is a summary of collections (income) and spending (outlays) by the federal government. Given the election year, here is a summary of this recap and […]

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Five Tips to Make Tax Time Painless

Posted on 02. Mar, 2020 by in Small Business Tips, Tax Tips

Tax time is probably not your favorite time of year, especially if you have to pay the government your hard-earned dollars. Here are five tips on how we can make it just a bit less painful.  Have patience.  Practicing patience will go a long way when you’re dealing with taxes. Keep in mind that for tax professionals, […]

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New Rules Mean Saving More for Retirement

Posted on 27. Feb, 2020 by in Managing Finances, Misc. Articles, Retirement Accounts, Tax Tips

The Setting Every Community Up for Retirement Enhancement Act, also known as the SECURE Act, was passed by Congress in late December 2019. Here are some of the features in the new legislation that will help you save more for retirement: Money can continue to grow tax deferred If you turn 70½ in 2020 or […]

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