In the chaos of learning, qualifying, applying for the covid19 relief bill, have you thought about how it will affect your 2020 return? Have you thought about whether you'll have to pay it back? We bring you some answers.
Not getting through the big banks to apply for the Payroll Protection Plan (PPP) or EIDL stimulus? Here are other places to apply.
Didn't Get Any Part Of The Coronavirus Small Business Stimulus? Here Are Two Other Options
As you've most likely heard, Congress and President Trump have passed into law the coronavirus relief bill. We're reading the bill,  calling bankers, calling the SBA, following the steps ourselves and watching all reputable information sources in order to bring you the complete information....

I just got off the phone with an IRS agent. The IRS is cracking down on false earned income credit claims; I called them because two clients have yet to receive their refunds. I must understand the delay to properly advise my clients and/or prevent the problem in the future. For these particula...

There's a reason why the big corporations invest heavily in accounting.  From day-to-day accounting, payroll to month-end accounting, to internal controls, cost accounting and auditing, all these are accounting that affect every business. You use it in every area of your business.


When you plan ...

One of the biggest issues I hear from small businesses is their trouble with separating their personal expenses from business expenses.  IRS does require that there’s a clear line drawn between the two in order to demonstrate a clear carrying on of legitimate business operations as opposed to c...
A lot of small businesses I talk to understand  that their tax responsibilities is both federal level and state level, yet surprisingly few are actually on top of those state and local taxes.  I know everyone clamors during tax season to handle their federal year end taxes, but the state a...

 There are some big things that can trigger the loss of the S Status such as having  more than 100 shareholders, transferring stock to any entity that’s not a qualified shareholder such as C Corporation, certain ineligible trusts, partnerships or non-resident alien. Then there ar...
About Business

Just A Little About Business Entities:

A lot of the small business owners I’ve been meeting lately seem to already know the  business entity they want for their existing or startup company (most want LLCs or S Corps). This knowledge may have been gained from the “grapevine” or through their own ...