Last April 30, 2020, the IRS Notice 2020-32 was issued, and according to it, there should be no deductions for qualifying business loans that are under the Paycheck Protection Program...
What is Liquidation?Liquidating a business is the process by which business comes to an end and no longer exists. This can happen for several reasons and can be voluntary or involuntary....
You can consider the basic idea of capital gains very simple: the net profit will be known as a capital gain if you sell an asset for more than you paid for it. For example, you get...
It is a bad idea to try to approach the IRS on your own. Not only are you unskilled in advocating for yourself, you could also lack the experience to resolve your issue, especially...
Posted by Don Bell Law on 02/21/2020
The best in all of us is usually brought out by the circle of giving. Our moral drive to pay something forward when we feel grateful represented it. The benefits are usually immense...
Posted by Flynn Financial Group Inc on 12/29/2019
What is the harvesting of tax losses?The tax-loss harvesting can be said to be the act of selling a security that has experienced loss. By observing or "harvesting" a loss,...
Posted by John Pournaras Agency on 11/13/2019
Lending money to a family member (or borrowing from a family member) may seem like a good idea: the borrower gets easy approval, and any interest paid is left to the family rather...
Posted by Valderas Financial Solutions LLC on 11/12/2019
Key PunchlinesSet objectives Be organized! Minimize taxesSecure what is important most Make a will When you get hitched, you tie both emotional and financial knot...
Posted by Debi G Hill, CPA on 10/23/2019
An unexpected, unusual or sudden event that causes damage to your property would allow you to enjoy a casualty deduction -- in that tax year -- for the loss to your property. The...