April 20, 2020 / by Brett Hess / Deadlines, Newsletter, Small Business, Tax, Uncategorized
In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a range of relief. Here are some new announcements made by the IRS. More deadlines extended As you probably know, the IRS postponed the due dates […]
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Hiring independent contractors? Make sure they’re properly classified
April 30, 2020 / by Brett Hess / Uncategorized
As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake. The question of whether a worker is an […]
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PPP Forgiveness- Overview and FAQs
April 24, 2020 / by Jennifer Williamson / Uncategorized
PPP Loan Forgiveness is not automatic. Keep reading to be sure you know what is required. Key Points: There are specific criteria that must be met for the PPP loan to be forgiven. The CARES Act is currently full of confusion, inconsistency and gray areas regarding forgiveness. You will need to request forgiveness from your lender. […]
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Answers to questions you may have about Economic Impact Payments
April 21, 2020 / by Brett Hess / Deadlines, Newsletter, Small Business, Tax, Uncategorized
Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Here are some answers to questions you may have about EIPs. Who’s eligible to get […]
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Economic Impact Payment – Special alert for benefit recipients who don’t file a tax return and have dependents
April 21, 2020 / by Brett Hess / Tax
WASHINGTON – The Internal Revenue Service today issued a special alert for several groups of federal benefit recipients to act by this Wednesday, April 22, if they didn’t file a tax return in 2018 or 2019 and have dependents so they can quickly receive the full amount of their Economic Impact Payment. Their $1,200 payments […]
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April 20, 2020 / by Brett Hess / Deadlines, Newsletter, Small Business, Tax, Uncategorized
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COVID-19: IRS announces more relief and details
April 20, 2020 / by Brett Hess / Deadlines, Newsletter, Small Business, Tax, Uncategorized
In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a range of relief. Here are some new announcements made by the IRS. More deadlines extended As you probably know, the IRS postponed the due dates […]
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CARES ACT changes retirement plan and charitable contribution rules
April 9, 2020 / by Brett Hess / Newsletter, Small Business
As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of a tax law passed on March 27. The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains a variety of relief, […]
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