We talk about a Trillion dollars as if it were trivial. Here’s the hard numbers on the national debt as of 10-04-2020. Divide the national debt by the population. That is the share for every person man woman and child in the United States
Thank you for your confidence!
BRADFORDTAXINSTITUTE.COM
Tax Reduction Letter - COVID-19: New SBA Loans for Small Businesses—Maybe a Great Deal
If the Virus has you afraid to get out, I can do any tax return without you having to come to my office. Call for details. 208-232-5900.
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IRS.GOV
IRS: Don’t be victim to "ghost" tax return preparers | Internal Revenue Service
There are a lot of things in life that you can put off. Filing your income tax return isn’t one of them. If you have unfiled tax returns, get that monkey off your back! Give me a call and I will help you get square with your obligation to file.
The PPP loan was a great help to many businesses. But I think there is confusion over the tax consequences of these loans. When the government said that the loans would be forgiven with the right use of the funds, they did not say up front that the loans could increase your taxable income.
I don't think that is what congress or the President intended, but the IRS is saying that the expenses you paid with the loan proceeds won't be deductible. If your expenses don't count, it has the same effect as making the loan taxable. The IRS is basing this on a Long standing rule that treats interest expense incurred to purchase non taxable investments as not deductible.
I hope that congress fixes this, but for now that is how it is.
Trey Ellis
December 17, 2018 at 3:06 PM ·
This picture was taken in the wee hours of the morning and it touched me. He works so hard for us and doesn't even take a paycheck. He gave up everything to save us in his golden years. He didn't have to do this. The Democrats are trying to destroy our Country and he is the only thing stopping them. I am so thankful for him. God blessed us with him and we must continually pray for his safety and health and we must reelect him. We need him for 8 years.
Even though the Stimulus payments you received in June 2020 and the end of December 2020 are not taxable, you will still need to tell me the amounts you received. If you did not receive them and were eligible to to get them, we can get them for you when you file your tax return.
