To get my complete, FREE articlewith all the details… Good news! The government wants to give money to small businesses just like yours! Why has Uncle Sam created this pretty much no-strings-attached giveaway via the Employee Retention Credit (ERC)? Because lawmakers know that small businesses help power the economy and they want to make sure that small businesses … [Read more...]
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How to fight the 2021 tax-loss nightmare
To get my complete, FREE articlewith all the details… Definition: Net Operating Loss You have a net operating loss (NOL) when yourbusiness deductions exceed your business income. As you probably know, many horror movies include a scene in which the scary monster/evil person is finally killed. But then, just when the good guys all take a sigh of relief, … [Read more...]
You took coronavirus-related IRA money last year. Now what?
To get my complete, FREE articlewith all the details… During the pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) helped keep many businesses and individuals afloat. But as they say in hard-sell TV commercials… “But wait. There’s more!!!” You see, thanks to important provisions of the CARES Act, you may be eligible to take a tax-favored … [Read more...]
Closed! The PayPal 1099-K Reporting Loophole
To get my complete, FREE articlewith all the details… Using PayPal, and similar payment services, can be a great way to pay bills and shop online. However, as the IRS discovered, when taxpayers use third-party settlement organizations (TPSOs) like PayPal, they can use a loophole in the law that makes it easy to avoid declaring income. Here’s how they did it. Under … [Read more...]
The IRS Focuses on Cryptocurrency. Are You Ready?
To get my complete, FREE articlewith all the details… NOTE: In this email, we’re defining “cryptocurrency” as digital money that can be accepted as payment by willing partners. Think Bitcoin and other “coins.” Be warned! The IRS is now taking a close look at your cryptocurrency activities. That’s right. The IRS is now strictly enforcing compliance with the … [Read more...]