All About IRS Payroll Tax Relief For Small Businesses Impacted by COVID-19

Many small business and sole proprietors have been hammered by 2020;COVID-19, shutdowns, lockdowns, riots, endless rule changes, and pivoting as the world adjusts. Are we seeing a light at the end of the tunnel? It is hard to tell. There … Read More

Looking for Opportunities? Keep an eye here…

This month, we’ve been spending a lot of time focusing on – you guessed it – money.  One of the things that I see coming out of the current downturn is a lot of opportunity, especially for those who have … Read More

A Different Tip For Action Takers…

Look, it’s no secret that this economy is challenging entrepreneurs like never before.  Even in the midst of the meltdown in 2008-2009, we didn’t see anything like this.  Today, though, I want to share a simple tip that Is sure … Read More

Real Estate Corner

Maybe you’ve already seen how the volatility in the stock and cryptocurrency markets have drained a lot of value from people’s holdings and that’s true.  If you are one of those lucky enough to have dodged that bullet – or … Read More

How to Keep Your Finances Afloat

Look, let’s just be honest right now – people are struggling financially.  Yes, stimulus checks are continuing to go out and they are having an impact for millions of Americans. Despite that, times are still hard for a lot of … Read More

Saving a Little More…

No matter how you were impacted by the pandemic, it’s making finances hard for a lot of folks right now.  Mortgages not paid, rent payments missed, and car notes paid late.  One of the things most of us have to … Read More

Staying Stimulated

We’re in the midst of history and seemingly every small business is having the same worries… “How will we survive?” Let me tell you, the most critical thing you can do right now, as a small business owner, ids to … Read More

Individuals and Wage Earners Need to Watch Out for Scammers!

In the last month, the scammers have been working overtime.  With the COVID-19 crisis and literally billions of dollars in stimulus money available, many of the “classic” scams associated with tax refunds have been reimagined for the Coronavirus.  So, right … Read More

Choosing the Right Tax Preparer

It might seem silly that I’d send out an email to you about how to choose the right tax preparer, but think about it like this:  My team and I have nothing to hide AND, more importantly, we’d rather work … Read More

COVID-19 Stimulus Scams – Beware!

One of the biggest challenges we’re seeing as a result of the Coronavirus pandemic is one of the oldest – scams.  Just like the age-old IRS scams that creep up every year, the lure of easy money and desperate people … Read More

PPP Fund Now Depleted

The SBA program established by the CARES act PPP Paycheck Protection Plan has exhausted all funds. Banks began accepting PPP loan applications from small businesses and sole proprietorships on April 3rd. On April 10th self employed individuals and freelancers could … Read More

Calculate Your Stimulus Payment

This is called the economic impact payment by the IRS. The max per taxpayer is $1,200 and $2,400 per married filing joint couple. For each qualifying child there is an additional $500. The phase out starts depending on your filings … Read More

When Will My EIDL and or PPP SBA Loan Money Be In My Account?

There are some options for funding/ grants/ loans for small businesses out there. The SBA has 3 options. You can begin reading here. The 2 main ones you have been hearing about are the EIDL Economic Injury Disaster Loan and … Read More

COVID-19 is Even Affecting Net Operating Losses (NOL)

The Internal Revenue Service this week issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses, in addition the agency issued tax relief for partnerships filing amended returns. COVID Relief for taxpayers claiming NOLsRevenue Procedure 2020-24 provides … Read More

IRS Extends More Tax Deadlines

The Department of Treasury and the Internal Revenue Service this week announced extensions of additional key tax deadlines for individuals and businesses. Last month, the IRS announced that taxpayers generally have until July 15, 2020, to file and pay federal income taxes … Read More

IRS Tool for Non-Filers to Receive the Economic Impact Payment

To help millions of people, the Treasury Department and the IRS launched a new web tool allowing quick registration for Economic Impact Payments for those who don’t normally file a tax return. The non-filer tool, developed in partnership between the IRS and the Free … Read More

Disaster Loan Assistance

COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION For small businesses, 1099 independent contractors, and sole proprietors affected by the coronavirus there is a way to keep your business a float and maybe even keep everyone on payroll (including yourself) via the … Read More

COVID-19 and IRS Collections

The global pandemic of the novel coronavirus COVID-19 has wreaked havoc on everyone’s routine, schedule, and daily life. Many things are cancelled and many more are on hold. In my area the closings started on March 13 and have gotten … Read More

Why We Need To Talk NOW.

Good Morning,- Unless you’ve recently immigrated, chances are, you know in the United States, taxes are due to be filed no later than April 15th.  Now, of course there’s a whole lot of places that excuses and extensions can be … Read More

Make 2020 the Year You Took Action!

Good Morning, – I hope the New Year is treating you fantastically!  Obviously, we’re getting close to Tax Season, W-2s will be sent out in the next week and the early filers are already ringing the phones.  Before me and … Read More