We have the business organizers available for clients who have entity returns that must be filed. Entity returns are any business taxed as an S-corporation, C-corporation or partnership. These checklists and questionnaires are required for each entity and we cannot start work without it. All packets are available as PDF files you can download, or […]
The U.S. Small Business Administration (SBA) has announced enhancements to the COVID Economic Injury Disaster Loan (EIDL) program, a federal disaster relief loan designed to better serve and support our small business communities still reeling from the pandemic, especially hard-hit sectors such as restaurants, gyms and hotels. The SBA increased the borrowing limit from $500,000 […]
Every year we address client concerns about extending their tax returns. Over the years I’ve seen the media hype over the April 15 deadline like it is the final deadline and failure to file will cause problems. That is simply not true. I have counseled clients that it really is ok to file for an […]
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. […]
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 […]
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 […]
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 […]
If you are a business owner and face the risk of shutting down, can you file for state unemployment? The answer will vary by state, but for most states this depends on the entity you choose to run your business. Let me preface this by saying I am not an expert in state unemployment laws, […]
With the COVID-19 related shutdowns and government mandates, a wide variety of programs and assistance are becoming available for individuals and businesses. Check this site frequently for updates as we assemble a list of programs you may be able to take advantage of. If you are aware of other programs, please comment or drop us […]
With Congress giving taxpayers barely a week to react before the end of the year, the new 2018 tax bill does present some unique opportunities to do last second tax planning for 2017. Much of what can be done before year-end is standard tax planning advice. We caution that these are standard planning techniques that taxpayers […]
