How To Spend Your PPP2 Money

Our clients are starting to receive their PPP2 loan proceeds.  We just want to remind you how to spend that stimulus money so the full amount will be forgiven. According to an article in the Journal of Accountancy available at:...

Additional EIDL Advance Funds May Be Available

The SBA recently posted information about a new Targeted EIDL Advance at: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/covid-19-economic-injury-disaster-loans as follows: COVID-19 Targeted EIDL Advance was signed into law on December 27, 2020,...

Quick 2021 Tax Filing Season Facts

Tax filing season opens in a little less than two weeks. Friday February 12, 2021 is the first day that the IRS will begin to accept tax returns filed by taxpayers for the 2020 tax year.  If you have all your tax documents early and are due a refund, get your tax...

Keys to Minimizing IRS Audit “Red Flags” and IRS Tax Notices

The audit rate of personal income taxes continues to be low, hovering at around 0.5% of all personal tax returns filed each year based upon the past few tax filing seasons.  However, the chance of being audited is real and the chance of receiving an IRS notice is more...