Some insider tax knowledge from Tucker Plymel & Davis P.C..
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.
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Tax Consequences of Losing Your Job
Wednesday Wisdom from your friends at Tucker Plymel & Davis P.C.
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
If you're like most entrepreneurs, you probably cringe at the thought of starting a new business in the midst of a recession. In reality, these periods of downturn may actually be the ideal time to launch your new startup.
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Actually, a Recession is a Great Time to Launch That New Startup
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.
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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.
Make your Monday great with this motivation from Tucker Plymel & Davis P.C.
Let's get the weekend started. Friday from Tucker Plymel & Davis P.C.
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
It matters how you get there. Wednesday Wisdom from Tucker Plymel & Davis P.C.
Here is some midweek Wednesday Wisdom inspiration from your friends at Tucker Plymel & Davis P.C.
An individual must have compensation in order to contribute to an IRA, unless the individual is a non-working or low-earning spouse who is allowed to contribute to his or her own IRA based upon the compensation of the working spouse.
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Don't Miss the Opportunity for a Spousal IRA
A little inspiration from Tucker Plymel & Davis P.C. to start your week.
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?
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What Happens if I Missed the October 15th Tax Extension Deadline?
Your Friday tax fact from Moultrie based Tucker Plymel & Davis 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.
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12 Financial Metrics Small Business Owners Should Track
It matters how you get there. Wednesday Wisdom from Tucker Plymel & Davis P.C.
Some folks have been tapping or suspending their retirement savings to make ends meet during this COVID-19 pandemic, and although understandable, it is important to resume savings as quickly as financially possible. Still others have simply been ignoring the need to save for their retirement, which can have an unpleasant result when it comes time to retire. Many tax-benefitting retirement options are available.
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Don't Fall Behind in Saving for Retirement
Small business owners: as we inch closer to the end of the year, it's a great time to be thinking about tax planning strategies for your business. Here are some ideas that can be beneficial at any time of year.
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Preparing for 2021: Tax Planning Strategies for Small Business Owners
A little inspiration from Tucker Plymel & Davis P.C. to start your week.
We all have our favorite game shows such as Wheel of Fortune, The Price is Right, and Let's Make A Deal, and we love to have the contestants win big. Unfortunately, those winnings are taxable on the contestant's state and federal tax returns. See what can happen by watching this video.
Did you receive an IRS CP2000 notice (also known as an underreporter inquiry) in the mail? First step: Contact our office. Second step: Don't panic. We'll help you through the whole process.
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What Happens if I Receive an IRS CP2000 Notice?
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.
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Interaction between PPP Loans and the Employee Retention Credit
A little inspiration from Tucker Plymel & Davis P.C. to start your week.
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.
Let's get the weekend started. Friday from Tucker Plymel & Davis P.C.
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.
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Day Trader Rules and Tax Treatment
Wednesday Wisdom and Tucker Plymel & Davis P.C. = Success
