The IRS Is Still Collecting Taxes From a Select Few
If you heard that the IRS is hitting the brakes on most collections right now, it’s true. Taxpayers who generally aren’t behind on payments may be able to hold off on paying 2019 and 2020 taxes until July 15. But not everyone’s off the hook. The following three situations in particular will keep the IRS […]
Proceed with Caution on Your SBA Loan
(Updated as of May 5) Feds Offer Clarification on Unforgivable SBA Loans: Securing a Small Business Administration (SBA) loan connected with the CARES Act for COVID-19 relief has been difficult enough. But the complications don’t stop once you have a loan: it’s important to understand how the loans will be audited and forgiven (or not). […]
Be Tax-Scam Savvy
Hardworking taxpayers have lost millions of dollars and their personal information to tax scams. It’s a problem that’s not going away. Your best defense is to be vigilant and arm yourself with the latest news. Let’s look at three of the top scams circulating right now. Have you experienced them? Click To View
Captive Insurance Risks And Rewards
The Tax Cuts and Jobs Act introduced a new tax-lowering investment tool called Qualified Opportunity Zones (QOZ’s). Those willing to invest longterm in QOZ’s receive special tax advantages. But it’s new territory for both investors and developers, and with that new territory comes a learning curve. Click To View
COVID-19 Small Business Relief Roundup
Tax regulations are changing quickly right now, and every taxpayer’s situation is unique. Please contact us directly for up-to-date and individualized guidance. About 9 out of 10 small employers are negatively impacted by the COVID-19 outbreak, with half admitting they can survive for no more than two months in the current environment, according to a […]
What’s The Deal With Opportunity Zones?
The Tax Cuts and Jobs Act introduced a new tax-lowering investment tool called Qualified Opportunity Zones (QOZs). Those willing to invest long-term in QOZs receive special tax advantages. But it’s new territory for both investors and developers, and with that new territory comes a learning curve. Click To View
What’s the Deal With Opportunity Zones?
The Tax Cuts and Jobs Act introduced a new tax-lowering investment tool called Qualified Opportunity Zones (QOZ’s). Those willing to invest longterm in QOZ’s receive special tax advantages. But it’s new territory for both investors and developers, and with that new territory comes a learning curve. Click To View
Coronavirus Help: Federal Tax Relief and Loans
The coronavirus pandemic has turned the construction industry on its side. As the federal government scrambles to provide relief, a few tax and small business provisions have started to appear that can relieve some of the financial burdens you may be experiencing. Here’s a roundup… Click To View
Loans for COVID-19 Affected Small Businesses
The federal government has approved the release of small business loans for those affected by the coronavirus pandemic. Nearly $350 billion in loans will be administered by the SBA, including Small Business Interruption Loans for businesses with 500 or fewer employees. The maximum loan amount (up to $10 million) through the Small Business Interruption Loan […]
Federal Tax Deadline Extended to July 15
The Treasury Department and IRS have officially announced the federal income tax filing and payment due date is extended from April 15, 2020, to July 15, 2020. Included in this extension are all federal taxes that are usually due on April 15, which include annual individual income taxes, corporate taxes, fiduciary taxes and gift taxes, […]