by | Apr 29, 2020 | Profit Maximizer Moment, Tax Tip of The Week
The CARES Act includes provisions that allow you to delay payment of the employer portion of payroll taxes for your employees. It also offers delayed payments for Self Employment tax for Sole Proprietors and Partners. .In this video I discuss the rules of the law and...
by | Apr 28, 2020 | Profit Maximizer Moment
Watch this video if you want to learn more about EIDL loans and what ever happened to the $10,000 loan advance you requested on the SBA web site. Also I cover what is covered in an EIDL loan and what you need to do to apply for one. .Before you do anything else, why...
by | Apr 24, 2020 | Profit Maximizer Moment
Once you get your PPP loan a clock starts on how long you have to determine how much of the loan is forgiven and when you must send your bank your request for loan forgiveness with the required backup information. In this video I detail the worksheet that the SBA has...
by | Apr 23, 2020 | Profit Maximizer Moment, Tax Tip of The Week
The Employee Retention Credit is an overlooked part of the recently passed CARE act designed to help businesses survive the COVID19 related loss of revenue. If you qualify, and most small businesses will, the credit can reduce your payroll tax payments and provide...
by | Apr 21, 2020 | Profit Maximizer Moment, Tax Tip of The Week
The CARES Act allows taxpayers affected by COVID19 to borrow up to $100,000 from their IRA without tax or penalty. In this video we discuss who qualifies for this tax break, how you pay it back tax free and what happens if you can't or don't pay it back within...
by | Apr 17, 2020 | Profit Maximizer Moment, Tax Tip of The Week
The CARES Act (Coronavirus Aid, Relief, and Economic Security Act) included many tax breaks designed to get cash to individuals and businesses. In this video I discuss how the $1,200 per person checks will be sent out, calculated and how it will be reported on your...
