Now is the time to start thinking about how to structure your finances around higher tax rates. In this video Sabina takes you through some potential issues you could encounter if tax rates are increased along with some helpful suggestions.
2020 Election : Brace For Higher Taxes
PPP Loan Forgiveness Tool by AICPA and CPA.com
The American Institute of CPAs and its business and technology arm, CPA.com, have released a Paycheck Protection Program (PPP) loan forgiveness platform, PPPForgivenessTool.com, which automates the forgiveness process for small business owners who have received funds from the PPP.
Save Taxes Under CARES Act!
August 31 is the New Deadline to Avoid Distribution Tax Hit
5 Reasons Why You Should Not Rush For PPP Forgiveness
Congratulations to you that have received the Paycheck Protection Program (PPP) money to tide you over and help you keep your employees. With an understanding of "use it or pay it", and that the clock is ticking, you are probably contemplating applying for forgiveness of this money.
Not so fast! Why? You ask. Here are 5 main reasons you may want to give it more thought.
Debt Forgiveness May Qualify for a Tax Break
To Convert or Not Convert
Preserve Your Own Retirement Nest Egg While Providing Care for a Loved One
Care and Costs are two sides of a coin when it comes to taking care of your loved one. Increasing expenses may cause pressure even to the ones with a strong financial background. You may need help from a few expertly approaches to restructure and balance the scenario, in order to avoid depleting your own retirement fund.
IRS Tax Notes
The Dos and Don'ts of IRS Audits
Economic Impact and Stimulus Payments : What Business Owners / Self-Employed / Independent Contractors need to know
This extra long edition has two parts, one about what to do with the Stimulus or Economic Impact Payments, and the other is about tax-related laws and updates to help with tax planning for the rest of 2020. You can read Part I here.
Are you buckled down?
6 Ways to Tame Your Capital Gains Tax Bite
A cornerstone of smart tax planning is year-round management of your property sales and purchases. And a key component of this activity is knowing that the resulting sale of a home, stock or collectible creates a taxable gain or loss with varying tax implications. The savvy taxpayer understands that the correct capital gain approach can save plenty of money. Here are six capital gain tax-cutting opportunities to consider throughout the year:
Losses that Offer Tax Savings
Capital loss, casualty loss, net operating loss — a loss by any name causes a financial setback. It's something no one likes to think about, much less experience. But if you do suffer a loss, tax laws may provide a measure of relief in the form of a refund or lower taxable income. Here are examples of common losses you may experience, along with possible tax savings