Wealth Builders Weekly Tax Tips
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Tax Considerations When a Loved One Passes Away (Part 3)
A financially comfortable loved one has passes away. In this year of seemingly endless bad news, sadly, that’s not an uncommon situation. The now-deceased loved one may have been single […]
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Tax Considerations When a Loved One Passes Away (Part 2)
A financially comfortable loved one has passes away. In this year of seemingly endless bad news, sadly, that’s not an uncommon situation. The now-deceased loved one may have been single […]
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Tax Considerations When a Loved One Passes Away (Part 1)
A financially comfortable loved one has passes away. In this year of seemingly endless bad news, sadly, that’s not an uncommon situation. The now-deceased loved one may have been single […]
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New Stimulus Law Grants Eight Tax Breaks for 1040 Filers
The new, massive stimulus bill enacted into law on December 27, 2020, contains eight new tax breaks designed to help the non-business taxpayer. None of these tax breaks are earthshaking […]
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QBI Update: Impact of Negative QBI and Previously Suspended Losses
For 2018-2025, you (and estates and trusts) can use your qualified business income (QBI) to create the 20 percent deduction under Section 199A. While federal income tax losses from business […]
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If the SBA Makes Loan Payments on Your Behalf, Are You Taxed?
The Small Business Administration (SBA), Paycheck Protection Program (PPP) loans, and Economic Injury Disaster Loans (EIDLs) have gotten the most attention from businesses seeking a quick cash infusion during the […]
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Business Tax Breaks Thanks to the Recently Enacted CAA
The Consolidated Appropriations Act (CAA) was signed into law on December 27, 2020. The legislation adds a few new federal income tax breaks for business and extends a bevy of […]
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Who Qualifies for First Draw PPP Money Today?
Answer-you most likely-if you file a business tax return and have not yet received any Paycheck Protection Program (PPP) monies. But don’t wait. The money is going to run out […]
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COVID-19 Relief Law Boosts Temporary Tax Deductions and Credits
Embedded in the COVID-19 relief law is $900 billion for financial assistance. As you would expect in these unusual times, some of the relief is in the form of direct […]
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Tax Scams
It seems like each week, the news reports all the clever new ways that criminals are trying to scam innocent victims out of their hard-earned money. Before the big rush […]