Many accountants and tax consultants recommend business owners who received Paycheck Protection Program (PPP) relief loans to hold off completing their forgiveness forms. Already, the rules about which loans qualify for forgiveness have shifted several times. Let's take a look at what's happened so far concerning this complicated government benefit. https://bit.ly/33UTX6O
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Tax Consultants Address PPP Loan Forgiveness Issues | The Law Offices of Lawrence Israeloff, PLLC
A certified public accountant, commonly referred to as a CPA, is a professional accountant who has passed the CPA exam in one or more U.S. states. Learn more about CPAs and how you can benefit from their expertise. https://bit.ly/2P7iMoY
A trust is a legally created fiduciary arrangement designed for the security, growth, and division of assets. Each role in a trust role comes with different responsibilities and expectations that must be followed for the trust to succeed and be respected as the legal owner of its assets. Learn more about the parties involved in a trust in today's blog post.
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Who Are The Parties Involved In A Trust? | The Law Offices of Lawrence Israeloff, PLLC
Although there are people who qualify as both, tax attorneys and certified public accountants (CPAs) are not the same. They are both financial professionals that aim to protect you and your business interests, but they use different approaches to do so. Keep reading to decide whether you need a tax attorney, a CPA, or both. https://bit.ly/3gc3VWQ
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Do I Need A Tax Attorney or CPA? | The Law Offices of Lawrence Israeloff, PLLC
With the due date for filing federal tax returns quickly approaching and no end in sight for the devastation caused by the coronavirus, the IRS has announced that tax filing due dates will be extended. https://bit.ly/340bOJk
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Tax Filing Due Dates Extended Due To The Coronavirus | The Law Offices of Lawrence Israeloff, PLLC
One of the most well-known tax deadlines is April 15, the time when federal individual income taxes are due. Here are some other important tax deadlines to keep in mind for the year. http://bit.ly/2V7RUto
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Important Income Tax Deadlines for 2020 | The Law Offices of Lawrence Israeloff, PLLC
There's nothing typical about tax planning in 2020. COVID-19 and the economic fallout are only the beginning. Even without a pandemic, recent developments such as the Setting Every Community Up for Retirement Enhancement (SECURE) Act promise to deliver significant changes in taxation. More recently, the federal government has implemented several measures intended to provide financial relief. Keep the following considerations in mind as you look forward to the year ahead. https://bit.ly/3j2B4W8
While President Biden's tax proposals may not wind up in any final tax legislation, it does appear that there will be substantive changes to the tax law. With the current political makeup in Washington, a Democratic-controlled Congress is likely to endorse them. So, what tax planning should you be doing now? Many of the options to reduce your potential tax liability for 2020 have passed now that we’re in a new year. However, there are still some things worth considering. https://bit.ly/3q1YkXH
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Tax Planning for 10 Proposed Biden Tax Plan Changes | The Law Offices of Lawrence Israeloff, PLLC
The estate and gift tax exemption currently sits at $11.7 million per individual. This increase is currently set to expire in 2025, but with changes in administration, the amounts may lower to pre-2018 thresholds again as soon as this year.
Contact the Law Offices of Lawrence Israeloff, PLLC for help with tax planning for your estate. https://bit.ly/39HrTa6
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Estate Tax Planning in 2021 | The Law Offices of Lawrence Israeloff, PLLC
Many people think estate planning is only for the rich. In reality, you have an estate even if all you have are the clothes you are wearing. While it is vital to create a plan for your estate if you have a lot of property and money, it’s also important to develop a plan even if you don’t have a lot. https://bit.ly/394CNpT
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Isn’t Estate Planning Only for the Rich? | The Law Offices of Lawrence Israeloff, PLLC
