Here's your tax fact of the week from your friends at Kilmer & Associates CPA P.C..
The federal credit for the purchase and installation costs of a residential solar-power system is fading away and will no longer be available after 2021; plus, the credit itself is being reduced.
KILMERCPA.COM
Solar Tax Credit is Sunsetting Soon
Some Wednesday Wisdom from your friends at Winchester based Kilmer & Associates CPA P.C.
The decision concerning whom you designate as the beneficiary of your traditional IRA is critically important and affects the minimum amounts you must withdraw from the IRA when you reach age 72, who will get what remains in the account after your death, and how that IRA balance can be paid out to beneficiaries.
KILMERCPA.COM
Keeping Your Designated IRA Beneficiary Current is Important
The tax filing extension deadline, October 15th, is just around the corner. Here is a quick reminder of what you need to know.
Here's some motivation for your Monday from Kilmer & Associates CPA P.C.
For those who love learning: here's a tax fact from Kilmer & Associates CPA P.C..
Operating a SMB is hard work - and it's vital to know the financial health of your business at any time. Whether you're assembling your financial reports yourself or have hired professional help (like us), here are 12 metrics that can help you monitor your success.
KILMERCPA.COM
12 Financial Metrics Small Business Owners Should Track
To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. However, 2020 has given rise to more than the usual tax-planning opportunities. Thus, you may find it appropriate to schedule a tax-planning appointment well before the close of the year to take advantage of the tax benefits and strategies available for 2020.
KILMERCPA.COM
Don't Miss Out on Year-End Tax-Planning Opportunities
Get inspired. Some Wednesday Wisdom from Winchester based Kilmer & Associates CPA P.C.
Are you an investor in stocks, bonds, mutual funds, etc.? If so, when you sell those securities, you will undoubtedly want to minimize your gains or maximize your losses for tax purposes. To do that, you'll need to know your tax basis in the investment (asset), which makes it important to keep track of the basis in all your investments.
KILMERCPA.COM
Are You Keeping Track of Your Investment Basis?
Set yourself up for success with Monday Motivation from Kilmer & Associates CPA P.C.
Start your week on the right foot with Monday Motivation from Kilmer & Associates CPA P.C.
For those who love learning: here's a tax fact from Kilmer & Associates CPA P.C..
The SBA U.S. Small Business Administration (SBA) has initiated a compliance program to evaluate the good-faith certification that borrowers made on their PPP Borrower Applications related to need for the loans due to economic uncertainty as a result of COVID-19. This program will apply to borrowers whose loans are $2 million or more.
KILMERCPA.COM
SBA Questioning PPP Borrowers with Loans Over $2 Million
Transform your life. Wednesday Wisdom from Kilmer & Associates CPA P.C.
The IRS has warned taxpayers of a clever scheme by internet scammers to dupe taxpayers into revealing their bank account information under the guise of receiving the $1,200 Economic Impact Payment.
KILMERCPA.COM
Beware of New Text Scam Related to Stimulus Payments
Get ready for the week: Kilmer & Associates CPA P.C. has motivation for your Monday.
Although day trading is neither illegal nor unethical, it can be highly risky. Most individual investors do not have the wealth, time, or temperament to make money or sustain the losses that day trading can bring. Satisfying the rules that permit special tax treatment for day traders is difficult.
KILMERCPA.COM
Day Trader Rules and Tax Treatment
Transform your life. Wednesday Wisdom from Kilmer & Associates CPA P.C.
If you were a victim of a major natural disaster, the Taxpayer Certainty and Disaster Tax Relief Act of 2020 has special rules about retirement plan and IRA distributions, retirement plan loans, how to compute disaster losses, and relief for non-itemizers. Employers may qualify for a new employee-retention credit.
KILMERCPA.COM
Tax Relief for Victims of 2020 Natural Disasters
Start your week on the right foot with Monday Motivation from Kilmer & Associates CPA P.C.
Here are the business tax due dates for February 2021.
KILMERCPA.COM
February 2021 Business Due Dates
Here are the February 2021 individual tax due dates:
KILMERCPA.COM
February 2021 Individual Due Dates
