The Second round of Stimulus Payments Are on Their Way

Are you finding unusual deposits from the IRS in your bank account? Last week, the treasury started sending the second round of stimulus payments, or Economic Impact Payments. The following comes from an IRS new bulletin. The IRS and the Treasury Department began issuing a second round of Economic Impact Payments, often referred to as […]

A Second Round of Stimulus Payments Are Planned

In yesterday’s stimulus package passed by Congress, another round of Economic Impact Payments (EIP) payments are planned to be sent within a few weeks of President Trump’s signature. Except for the size of the payment, many of the rules for eligibility and the method of payment are the same as the first payments made earlier […]

Congress Delivers Last Minute Gift to Businesses with PPP Loans

Yesterday, Congress passed a bill with a plethora of tax law changes including some changes to the taxability of how expenses are treated for businesses with PPP loans. Until yesterday, the IRS took the position that expenses paid using funds provided by Payroll Protection Program loans were not deductible if the loan was ultimately forgiven. […]

Early Bird Program for Corporate and Partnership Tax Returns

Our early-bird incentives are back! Once again, I am contacting many of my business clients with the goal of trying to schedule dates to submit corporate or partnership tax work in 2021. As you know, we work with an extremely compressed deadline schedule from January-April. Most of our work comes in after 2/1 which means […]

Business Owners: Year-End Tasks you MUST be Aware Of

Attention Business Owners! Now is the time to get ready for year-end and make the tax preparation process easier and less stressful. There are some things you HAVE to get done before 12/31. Click here for our complete list. Here are some of the more important things to be sure you get done in the […]

The 2020 Individual Year-end Tax Planning Guide is Here

Looking for year-end tax planning moves to save on taxes this year? Check out our annual year-end guide. Most strategies need to be executed before December 31, so act quickly. Remember, this guide does not replace customized, year-round tax planning. Contact us today to find out more. The guide includes many different strategies: New Cares […]

Our 2020 Business Year-End Planning Guide is Available

If you own a business of any kind, please be sure to check out our 2020 year-end tax planning business guide. This guide has various strategies to minimize taxes including: Strategies depending on whether 2020 is a higher income year than 2021 How to defer income into next year How to accelerate expenses into 2020 […]

Strategies for Your Stock Portfolio in 2020

Do you own stocks, bonds or other securities in a taxable account (not a retirement account)? Here are some strategies for minimizing taxes or taking advantage of your tax bracket this year: Avoid the high taxes (up to 40.8 percent) on short-term capital gains and ordinary income by holding your positions for at least 12 […]

How Can Tax Planning Strategies Save You Money and Avoid Surprises

As we start looking toward the end of 2020, tax planning strategies for 2020 and 2021 become our primary focus. But what is tax planning and how do tax planning strategies save money and avoid surprises? Every taxpayer has the right and responsibility to lower his/her tax bill using a number of different legal tax […]

Steve Trojan, CPA Earns Certified Tax Coach™ Designation

In June 2020, Steve Trojan announced that he is one of just over 700 tax professionals who has completed the American Institute for Certified Tax Planners™’ training academy leading to the Certified Tax Coach™ designation. “Taxpayers who really want to beat the IRS can’t wait for their accountant to work magic with a stack of […]