Make your Monday great with this motivation from The Taxation Experts Certified Public Accountants
If you are receiving temporary home mortgage relief under the CARES Act or in danger of having your home repossessed, know that any debt relief can have an impact on your taxes. Watch this video to find out more.
Here's your tax fact of the week from your friends at The Taxation Experts Certified Public Accountants.
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.
THETAXATIONEXPERTS.COM
Solar Tax Credit is Sunsetting Soon
Here is some midweek Wednesday Wisdom inspiration from your friends at The Taxation Experts Certified Public Accountants
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.
THETAXATIONEXPERTS.COM
Keeping Your Designated IRA Beneficiary Current is Important
First, there was the usual April 15th deadline. Then, there was July 15th. If you filed for an extension, your deadline was October 15th - and now that date has come and gone. What happens now if you missed it?
THETAXATIONEXPERTS.COM
What Happens if I Missed the October 15th Tax Extension Deadline?
The Taxation Experts Certified Public Accountants - Some Friday tax knowledge for our friends and colleagues.
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.
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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.
THETAXATIONEXPERTS.COM
Don't Miss Out on Year-End Tax-Planning Opportunities
Here is some midweek Wednesday Wisdom inspiration from your friends at The Taxation Experts Certified Public Accountants
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.
THETAXATIONEXPERTS.COM
Are You Keeping Track of Your Investment Basis?
If you plan to start a new business, there are a number of decisions and possible elections you can make that will influence what form of business you select and how you decide to deduct costs. These choices can affect the tax outcome of your business for years to come.
THETAXATIONEXPERTS.COM
New Business? Tax Issues to Consider
An individual must have compensation in order to contribute to an IRA. However, a non-working or low-earning spouse is allowed to contribute to his or her own IRA based upon the compensation of the working spouse. Watch this video to learn more.
Make your Monday great with this motivation from The Taxation Experts Certified Public Accountants
Here is a fun fact for your Friday from The Taxation Experts Certified Public Accountants.
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.
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SBA Questioning PPP Borrowers with Loans Over $2 Million
Get inspired. Some Wednesday Wisdom from Torrance based The Taxation Experts Certified Public Accountants
Your Friday tax fact from Torrance based The Taxation Experts Certified Public Accountants.
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.
THETAXATIONEXPERTS.COM
Day Trader Rules and Tax Treatment
Here is some midweek Wednesday Wisdom inspiration from your friends at The Taxation Experts Certified Public Accountants
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.
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Tax Relief for Victims of 2020 Natural Disasters
The Taxation Experts Certified Public Accountants - Some Monday Motivation for our friends and colleagues.
Here are the business tax due dates for February 2021.
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February 2021 Business Due Dates
