As the tax filing season gets underway, now is a great time to review some tips to help ensure your tax return is processed without a delay. Also included are reminders of some surprising tax situations this year because of the pandemic. For small businesses there are some organizational hints that seem to work and a thoughtful article for all of us to consider about how we tend to undervalue the worth of our personal identities.
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4 Ways to Make Sure Your Tax Return Doesn't Get Stuck
Review financial decisions when interest rates change
The new year begins with more stimulus payments and other financial assistance courtesy of the latest COVID relief legislation. Read about how the new bill affects your tax and financial outlook.
Also in this month's edition is good news for business owners regarding the tax deductibility of expenses paid for using PPP loan funds that are forgiven. You can also determine how much to contribute to your retirement fund in 2021 and see what Uncle Sam came up with for his New Year’s resolutions.
Please call if you would like to discuss how this information could impact your situation. If you know someone who can benefit from this newsletter, feel free to send it to them.
More Stimulus Payments on the Way
What you need to know NOW!
You could soon see another stimulus payment in your bank account. Here's what you need to know about the recently enacted Emergency Coronavirus Relief Act of 2020.
If you or your business received funds from the Paycheck Protection Program, newly-passed legislation will help to dramatically cut your tax bill. Here's what you need to know.
Working from a home office has become a reality for many of us this year. But what, exactly, are the rules to be able to deduct your home office expenses on your tax return? Read about some ideas to help you qualify for the deduction.
Also in this month’s edition is an article outlining common tax surprises, and some ideas for small businesses to build strong, banking relationships during these uncertain times. Also read about a number of creative ideas that can help parents keep their kids engaged while dealing with the challenges posed by virtual learning.
Please call if you would like to discuss how this information could impact your situation. If you know someone who can benefit from this newsletter, feel free to send it to them.
Turn Your Home Office Into a Tax Deduction
If you worked from home for the first time in 2020, here are several suggestions for how to qualify for the home office deduction.
No one likes surprises from the IRS, but they do occasionally happen. Here are some examples of unpleasant tax situations you could find yourself in and what to do about them.
Here are some ideas to keep your sanity, and the sanity of your children and grandchildren, while continuing to manage through extended stay-at-home winter days and virtual learning.
With all the talk during the pandemic to save money, it is possible to go too far. Included here are some ideas to make sure this does not happen to you. The Social Security Administration recently announced its 2021 cost of living adjustments. More wages will be taxed and retirement checks will go up. The annual details and some interesting Social Security information are outlined here. And if your small business is struggling on how to make ends meet during this challenging time, here are some hints to effectively price your products. All this and some handy every-day tips EVERYONE should know.
Please call if you would like to discuss how this information could impact your situation. If you know someone who can benefit from this newsletter, feel free to send it to them.
Saving Too Much Can Sometimes Be Expensive
Sometimes you can run into trouble when you try to save too much. Here are four ways that savings can get in your way and how you can correct them.
Raising (and, sometimes, even lowering) prices can be a balancing act. As with any major business decision, pricing should take into account various factors. Here are several to consider.
Does your monthly income seem a little higher than normal? If so, that may actually be a sign of trouble ahead. Find out how a tax trap could be lurking in your paycheck. Also read about your options for what to do with your 401(k) when switching jobs, common mistakes that businesses make with their websites and fascinating facts about your favorite fall gourd.
Please call if you would like to discuss how this information could impact your situation. If you know someone who can benefit from this newsletter, feel free to send it to them.
Is a Tax Trap Lurking in Your Paycheck?
Did your first paycheck in September seem a little higher? If so, it could be a tax trap.
Your business's online presence leaves a lasting impression for those who visit. Here are several mistakes to avoid when trying to connect with existing and potential customers through your website.
Corn might be the king of U.S. crops, but pumpkins are always in demand this time of year. Here are several interesting tidbits about one of America's favorite fall gourds.
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