by Nancy Skinner | Feb 24, 2021 | Uncategorized
The recently passed stimulus bill included the creation of PPP2 which provides that if an Employer has fewer than 300 employees and experienced a decline in Gross Receipts of 25% or more in any 2020 calendar quarter they could apply for a “Second Draw” under the...
by Nancy Skinner | Dec 23, 2020 | Uncategorized
You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify. But with proper planning, you may be able to time discretionary medical expenses to your...
by Nancy Skinner | Dec 23, 2020 | Uncategorized
Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a smart way to build a substantial sum of money. If you’re not already contributing the...
by Nancy Skinner | Dec 23, 2020 | Uncategorized
If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The fourth 2020 estimated tax payment deadline for individuals is Friday, January 15,...
by Nancy Skinner | Dec 23, 2020 | Uncategorized
Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important not to run afoul of the “wash sale” rule. IRS may disallow the loss Under this rule, if you sell stock or securities for a loss and buy...
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