Tax Filing. July 15th? Let’s Talk. On March 21, the Treasury Department and Internal Revenue Service announced a tax filing and tax payment deadline extension until July 15, 2020. Now what? Hint: It doesn’t mean tax filing should go to…
SBA Disaster Loans and Unemployment Insurance COVID-19
March 27, 2020 Small Business Disaster Loans and Unemployment Insurance SBA Disaster Loans Receive low interest SBA disaster loans to businesses and private nonprofits Available for current and future disaster assistance declarations related to Coronavirus Approved up to $2 million in assistance to small…
Filing Tax Returns 101: Errors to Avoid
Filing Tax Returns 101: Common Errors to Avoid Filing a tax return electronically reduces errors because the tax software does the math, flags common errors and prompts taxpayers for missing information. Using a reputable tax preparer – including certified public accountants, enrolled agents or…
Get Ready For taxes: Part III
Get Ready For Taxes: Part III Important Things to Know About Refund Refunds As tax filing season approaches, it is important to be ready for taxes. The Internal Revenue Service cautions taxpayers not to rely on receiving their refund by…
Get Ready For Taxes : Part II
Get Ready For Taxes: Important Things to Know About Tax Credits Part II Child Tax Credit There are a number of things you can do to help get ready for taxes. Taxpayers can claim the Child Tax Credit if they…
Get Ready for Taxes: Important things to know about tax credits
Get Ready for Taxes: Important Things to Know About Tax Credits Part 1 With the tax filing season quickly approaching, the Internal Revenue Service recommends taxpayers take time now to determine if they are eligible for important tax credits. It…
401(k) contribution limit increases
401(k) contribution limit increases The contribution limit for any employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan increases from $19,000 to $19,500. The catch-up contribution limit for employees aged 50 and over…
Standard mileage rates issued by IRS for 2020
Standard mileage rates issued by IRS for 2020 The Internal Revenue Service issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1,…
Four Common Tax Errors That Can Be Costly For Small Businesses
Four Common Tax Errors That Can Be Costly For Small Businesses A small business owner often wears many different hats. They might have to wear their boss hat one day, and the employee hat the next. When tax season comes…
