Dear Jason

Dear Jason, In 2020 I had to withdraw $20,000 from my Roth IRA.  Will I have to pay tax on this distribution? Sarah Dear Sarah, If you have had your Roth IRA for at least 5 years, you can [...]

Dear Jason, My bank is sending me letters regarding loan forgiveness for my PPP loan.  What should I do? Pat   Dear Pat, You have plenty of time to apply for loan forgiveness; I will be [...]

Dear Jason, I have a car that I want to donate to charity.  How much of a tax deduction will this provide me? Sally   Dear Sally, To receive any type of tax deduction for your donated [...]

Dear Jason, I am starting a business and many of my friends suggest that I become an LLC.  Will this save me money in taxes? Todd   Dear Todd, Business owners typically select an LLC for the [...]

Dear Jason, I qualified for an economic stimulus payment but never received one, what can I do? Jane   Dear Jane, If you qualified for an economic stimulus payment based upon your income but [...]

Dear Jason, I have been receiving unemployment payments for the past few months.  How will this affect my taxes? Jim   Hi Jim, As you are probably aware, many individuals received a larger [...]

Dear Jason, My business has been hurt as a result of the Coronavirus, what government assistance is still available? Mary   Dear Mary, There are still several options available to you and [...]

Dear Jason: Can I receive both a PPP loan and an EIDL loan? Ted   Hi Ted, Yes, you can receive both the PPP and the EIDL loans.  There are some restrictions for how the funds from the EIDL [...]

Dear Jason: I graduated college in 2019 and did not have to file a tax return that year.  I am now living on my own and working but will not be receiving a stimulus payment.  Is there anything I [...]

Dear Jason: I am a senior citizen who was not required to file a tax return in 2018 or 2019.  Will I still receive a stimulus payment? Sarah Dear Sarah, Low-income taxpayers, senior citizens, [...]