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Answers to Common Tax Questions

Answers to Common Tax Questions

With the April 15 tax filing deadline right around the corner, here are answers to some common tax questions. When will I get my refund? The pandemic and additional stimulus payments will, in all probability, delay refund payments. But as of now here are the old wait...
Organized Business Records Save Time and Money

Organized Business Records Save Time and Money

Here are some suggestions to help you master the art of documenting and organizing your business now and in the future. Document policies and procedures. Write down daily responsibilities, skills needed to complete tasks related to these responsibilities, and the...
PPP Loan Expenses Are Now Tax Deductible

PPP Loan Expenses Are Now Tax Deductible

If you or your business received funds from the Paycheck Protection Program (PPP), the recently passed Emergency Coronavirus Relief Act of 2020 will help to dramatically cut your tax bill. Here’s what you need to know. Background The PPP program was created by the...
2021 Retirement Plan Limits

2021 Retirement Plan Limits

As part of your 2021 tax planning, now is the time to review funding your retirement accounts. By establishing your contribution goals at the beginning of each year, the financial impact of saving for your future should be more manageable. Here are annual contribution...
Paycheck Protection Program (PPP) Round 2 FAQ

Paycheck Protection Program (PPP) Round 2 FAQ

On Monday, January 11, 2021 the SBA re-opened the Paycheck Protection Program (PPP). Over the past few weeks, we have been busy understanding and preparing for the most important questions you might have about receiving a Second Draw PPP Loan for your small...
Lower This Year’s Tax Obligation

Lower This Year’s Tax Obligation

Action to take now! Now is a good time to assess your current situation and address those lingering tax moves that may improve your tax picture for 2020. Here are five things to consider: 1. Check on your withholdings. Review your taxable income and the amount of tax...
Be Prepared for Pandemic Tax Surprises

Be Prepared for Pandemic Tax Surprises

Numerous new laws provide economic relief to individuals and businesses hardest hit by this year’s pandemic. This much-needed financial assistance, however, comes with a few strings attached. Here are three potential surprises if you use the available economic relief...
5 Summer Tax Savings Opportunities

5 Summer Tax Savings Opportunities

The weather is warm, kids are out of school, and it’s time to think about tax saving opportunities! Here are five ways you can enjoy your normal summertime activities and save on taxes: Rent out your property tax-free. If you have a cabin, condo, or similar property,...