Tax

New for tax year 2020. For tax year 2020, if you are under the age of 59 ½, you may be able to take a distribution from your retirement plan without having to incur the 10% early withdrawal [...]

New PPP Loan Forgiveness Application

Our Tax Organizer

Happy New Year! The President signed a new law that will affect businesses who received Payroll Protection Program (PPP) funds. Here is the good news: The PPP funds will be tax-free.  Just as a [...]

Our December 2020 Recommendations on PPP Loan Forgiveness

Changes for Cash Charity Deductions Due to changes in the tax law, almost 90% of individuals who file a tax return in 2020 will be claiming the standard deduction on their return.  In past years, [...]

Our December 2020 Recommendations on PPP Loan Forgiveness

How Entity Structure Can Impact Tax Liability? Are you the owner of a trade or business?  If so, what type of entity are you, e.g., Sole Proprietor, LLC, or C-Corporation?  Did you elect to be [...]

Our Current Recommendations on PPP Loan Forgiveness Status

How will working from home affect my income taxes? Many people have been working from home due to Covid-19.  To understand how this effects your tax situation, we first need to identify how you [...]