Feb 16, 2021
Are you ready for more Paycheck Protection Program (PPP) money? The Small Business Administration (SBA), in consultation with the U.S. Treasury Department, has opened up what it’s calling ‘Second Draw PPP Loans’ as of January 13, 2021. These loans are available to...
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Feb 9, 2021
Can you be held responsible for taxes a spouse or recently made ex-spouse failed to declare on your joint tax return? Yes and no. It’s called innocent spouse relief, but there are several hoops to jump through to get it. Innocent spouse relief allows the opportunity...
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Dec 22, 2020
The Tax Cuts and Jobs Act (TCJA) temporarily increased the basic exclusion amount of large estate gifts and reduced federal estate tax rates. The moves were made to help high net worth individuals offset estate taxes at the time of death. But what happens now? How...
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Dec 15, 2020
In the early months of the pandemic, states and local jurisdictions slowed their enforcement of sales tax collections from small businesses. But now that we’re finding a new norm within pandemic economic restraints, you can expect that grace period to end. This...
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Dec 8, 2020
If you spent part of your 2020 quarantine working remotely out of state, you (or your business entity) could be surprised with state taxes. A recent poll found that more than half of Americans who worked remotely during the pandemic aren’t aware of the possible tax...
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Nov 24, 2020
Warren Buffett’s famous quote, “You never know who’s swimming naked until the tide goes out,” is eerily ominous this year. More than 100,000 small businesses have permanently closed due to the COVID-19 pandemic. If your business is still in the fight,...
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