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...
by | Apr 15, 2020 | Tax Tip of The Week
In this article I cover the change in the income tax filing deadline for individuals, C-Corps and trusts and estates from April 15th to July 15th. This also applies to 2019 tax payments and 2020 tax estimates. I also cover how this affects 2019 IRA, HSA and employer...
by | Nov 19, 2019 | Profit Maximizer Moment, Tax Tip of The Week
For tax years beginning after 2017, business taxpayers (other than C-Corporations) may be able to take the new Section 199A 20% deduction of their qualified business income. This means that you will only pay tax on 80% of your business income. ...
by | Nov 12, 2019 | Profit Maximizer Moment, Tax Tip of The Week
Many wage-earning taxpayers with children believe that their tax-planning opportunities are limited because they are not in business or don’t own rental properties. While they don’t have anywhere near as many options, there are still a number of strategies...
