Make your Monday great with this motivation from Garcia CPA PC
Some insider tax knowledge from Garcia CPA PC.
No matter what the reason for your move may be, it's important to be aware of the implications for your taxes when you relocate to a new state. In this article, learn more about establishing residency, part-year tax returns, and more.
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How to File Taxes After Moving to a New State
If you have lost your job, there are a number of tax issues that you may encounter. They include severance pay, unemployment compensation, health insurance, pension plans and possibly a home sale. How you deal with these issues can profoundly impact your taxes and finances.
CPA-IN-DALLAS.COM
Tax Consequences of Losing Your Job
Wednesday Wisdom from your friends at Garcia CPA PC
U.S. citizens and resident aliens with financial interests in or authority over one or more foreign financial accounts (e.g., bank accounts or securities) may need to report these relationships to the U.S. Treasury's Financial Crimes Enforcement Network or face severe penalties.
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Foreign Account Reporting Due October 15
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The SBA has released yet another simplified application for PPP loan forgiveness: SBA Form 3508S. This form can only be used if the total PPP loan amount received by the borrower from their lender was $50,000 or less.
CPA-IN-DALLAS.COM
The SBA Issues a Simplified PPP Loan-Forgiveness Application
If you have lost your job, there are a number of tax issues you may encounter. How you deal with these issues can profoundly impact your taxes and finances. Watch this video to learn more about some typical issues.
Here's some motivation for your Monday from Garcia CPA PC
Here is a fun fact for your Friday from Garcia CPA PC.
Gambling income can affect your taxes in more ways than you might believe, including causing your Social Security income to be taxed, reducing your health care subsidies through government marketplaces, paying higher Medicare B & D premiums, having additional filing requirements, and limiting or reducing a number of tax deductions and credits.
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Gambling and Tax Gotchas
Transform your life. Wednesday Wisdom from Garcia CPA PC
To cope with inflation, the tax code requires the IRS to adjust the tax rates, standard deductions, and a variety of other tax related numbers each year, which they recently released for 2021.
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IRS Releases Inflation Adjustments for 2021
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For those who love learning: here's a tax fact from Garcia CPA PC.
A frequent question is whether inherited assets are taxable. Generally, they are not until they are sold, and then only to the extent that the sales price exceeds the fair market value of the asset at the time of the decedent's death. There are exceptions to this rule, such as traditional IRAs and other deferred untaxed income of the decedent.
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Is That Inheritance Taxable?
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Garcia CPA PC - Some Friday tax knowledge for our friends and colleagues.
Great news for 2021 and 2022 only. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 allows businesses to deduct 100%, instead of just 50%, of business meal expenses meeting certain requirements.
CPA-IN-DALLAS.COM
Increased Business Meal Deductions for 2021 and 2022
Are you planning to buy your first home, upgrade from your existing one, or refinance your mortgage? Let's take a look at some tax advantages and drawbacks of homeownership.
A little inspiration from Garcia CPA PC. Wednesday Wisdom
The Internal Revenue Service recently issued the 2021 optional standard cents-per-mile rates for business, medical and moving purposes. However, you may find it in your best interest to keep track of actual expenses for 2021.
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2021 Standard Mileage Rates Announced
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The Employee Retention Credit has been extended through June 30, 2021, and significantly liberalized.
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Employee Retention Credit Extended
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The Consolidated Appropriations Act, 2021, which was passed late last December, included a very tax-beneficial provision that liberalized the interaction between PPP loans and the Employee Retention Credit.
CPA-IN-DALLAS.COM
Interaction between PPP Loans and the Employee Retention Credit
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The Internal Revenue Service recently issued the 2021 optional standard cents-per-mile rates for business, medical and moving purposes. Watch this short video to see if the new rates will affect your business.
For those who love learning: here's a tax fact from Garcia CPA PC.