Tax Changes for Property Improvements and Business Losses
Some long-awaited great news for commercial property and business owners: The CARES Act that was passed in response to the COVID-19 pandemic includes technical corrections and additional modifications to the 2017 Tax Cuts and Jobs Act. Click To View
Eldercare and Your Taxes
Have you suddenly become a caregiver for a family member as care facilities are in lockdown? Don’t forget the critical tax deductions that could be waiting for you. As nursing homes and eldercare facilities have been in lockdown this year, you may have suddenly taken on primary caregiver responsibilities for a loved one. It’s a […]
It Still Pays to Build Green
Tax cuts have been extended for developers of renewable energy projects that have been delayed by the pandemic. The COVID-19 pandemic has held up many construction projects, including those that develop renewable energy. For this reason, the U.S. Treasury Department and IRS have modified the beginning of construction requirement for both the production tax credit […]
Main Street Lending Alternative to a PPP Loan
If you’ve had trouble securing U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) funds for your business, the Federal Reserve is offering an alternative through a low-interest loan program. It’s called the Main Street Lending Program, and it’s designed to support lending to small- and medium-sized businesses that have been financially affected by the […]
Exit and Estate Planning for Business Owners
Travel and tourism spending in Texas dropped 86% over the spring months. If you own a vacation rental property, you’re feeling that sting. Maybe your rental income plummeted and has yet to recover. Click To View
Exit and Estate Planning for Business Owners
The coronavirus pandemic has forced many of us to consider our business succession and estate plans. No matter how successful you are or how well you take care of yourself, your financial situation and health are both surprisingly fragile and undeniably intertwined, two truths that have become more apparent in recent times. Click To View
Tax Changes for Property Improvements and Business Losses
Some long-awaited great news for commercial property and business owners: The CARES Act that was passed in response to the COVID-19 pandemic includes technical corrections and additional modifications to the 2017 Tax Cuts and Jobs Act. If you’ve made commercial property improvements or have experienced passive activity losses or net operating losses, take a close […]
Financially Surviving A Downturn
While the current economic distress we’re facing is due to an unprecedented chain of events, there are lessons from past downturns that can be applied as well as new opportunities — from tax credits to forgivable loans — that you can consider. You can start by taking the following three steps. Click To View
Lose Money on a Vacation Rental This Year?
Travel and tourism spending in Texas dropped 86% over the quarter. If you own a vacation rental property, you’re feeling that sting. Maybe your rental income plummeted and has yet to recover. Perhaps summer has brought back renters, and revenue has swung back up. Or you took this time to use the property as your […]
Financially Surviving A Downturn
While the current economic distress we’re facing is due to an unprecedented chain of events, there are lessons from past downturns that can be applied as well as new opportunities — from tax credits to forgivable loans — that you can consider. You can start by taking the following three steps. Click To View