by SWAccountingPros | Sep 9, 2020 | Uncategorized
Who will get the money in your IRA if something happens to you? Congress created IRAs to encourage Americans to plan for their retirement, but it never intended for them to accumulate funds and defer taxes indefinitely. Unless an IRA owner takes specific steps, a...
by SWAccountingPros | Sep 9, 2020 | Uncategorized
The IRS announced late Thursday that it will not allow companies to take tax deductions for the wages and other expenses associated with forgiven Paycheck Protection Program loans. The IRS ruling clarified an ambiguity in the Paycheck Protection Program, but also...
by SWAccountingPros | Sep 9, 2020 | Uncategorized
Hello Everyone: On June 5 the President signed into law new laws related to the PPP program and forgiveness of those requirements. Last week, SBA gave us additional guidance on the details of these changes and how they will be administrated. For those of you...
by SWAccountingPros | Sep 9, 2020 | Uncategorized
Share Congress let many tax provisions expire on December 31, 2017, making them dead for your already-filed 2018 tax returns. However, in January of 2020, Congress resurrected the dead provisions retroactively to January 1, 2018. That is the good news!! However, the...
by SWAccountingPros | Sep 8, 2020 | Uncategorized
Have you procrastinated about setting up a tax-advantaged retirement plan for your small business? If the answer is yes, you are not alone. Still, this is not a good situation. You are paying income taxes that could easily be avoided. So, consider setting up a plan to...
