On December 27, 2020, the newConsolidated Appropriations Act (CAA) became law. How will it affect you? For the answer, read the full article… “Update: COVID-19 Tax Relief MeasuresAfter the New Law” A little history… As you probably remember, the CARES Act made many temporary changes in the tax law. Some were helpful. Some were not. But the CARES Act changes … [Read more...]
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Business Tax Breaks Thanks to the Recently Enacted CAA
Help yourself to a tasty buffet of tax breaks! The new Consolidated Appropriations Actis serving them up now! Read the full article now… “Business Tax Breaks Thanks tothe Recently Enacted CAA” Good news! The new Consolidated Appropriations Act (CAA), signed into law on December 27, 2020, can be a real money saver for business owners like you! You see, the new … [Read more...]
Deducting Business Casualty Losses: You Don’t Need a Disaster
Disasters are always terrible when they strike,but you can reduce the pain! Read the full article to find out how…“Deducting Business Casualty Losses:You Don’t Need a Disaster” Let’s talk disasters.Okay. This isn’t an upbeat subject, but if you’re ever hit with a disaster, you’ll be glad you read the full article. You see, the article explains, in detail, the crucial … [Read more...]
QBI Update: Impact of Negative QBI and Previously Suspended Losses
Section 199A of the tax code can give youa 20% deduction… or a throbbing headache. We’ll give you the details (and a couple of aspirin)when you read the full article: “QBI Update: Impact of Negative QBI andPreviously Suspended Losses” [QBI=Qualified Business Income] Is your business defined by the IRS as a pass-through entity*? (If you’re reading this email, it … [Read more...]
Use the IRS Safe-Harbor Tax Relief for Ponzi Scheme Losses
A good Ponzi scheme can be hard to detect. For example, the schemer may pay 10% interest when the going rate is 5%. But the Ponzi swindler pays the victim’s 10 percent with money collected from other victims. It’s a house of cards that ultimately fails as Bernie Madoff can attest. Victims can lose their entire investments. Why is the Tax Reduction Letterinterested in … [Read more...]