Category Archive

The IRS has a new sign in process to protect the privacy of taxpayers. The new technology will provide taxpayers with more ways to verify their identity. It will offer increased security when using IRS tools. Government agencies and tax professionals will also use the updated sign in process. Taxpayers will use the new technology, ID.me. You can continue to … Read More

Financial planning is key to reaching your goals. You may be asking, what does it mean to create a financial plan? It is outlining a plan of action that will benefit you presently as well as long-term. This may seem like a daunting task but resources and professionals in the field can help tremendously.  Employer Benefits This year may have … Read More

Cryptocurrency is new and ever changing. If you invest in cryptocurrency it is essential to stay up to date on the associated tax regulations. Businesses and individuals use cryptocurrency for a variety of reasons. For example, Investing in cryptocurrency generates returns that can be used to boost your portfolio, make payments, or save through investing.  The IRS calls cryptocurrency “convertible … Read More

As the holidays approach there are a variety of thoughts and emotions that may come up. Discussing financial achievements this holiday season can bring some comfort and cheer. The end of the year is a great time to reflect, express gratitude and set future intentions. The holidays can be a quick way to spend a lot of money in a … Read More

2020 was a year that greatly contrasted from years prior. COVID-19 added more complexities to our daily lives as well as our taxes. According to the IRS, 2021 tax refunds were higher than usual. Contributing factors were COVID relief payments and other measures under the American Rescue Plan. Under the 2020 American Cares Act,  taxpayers received two COVID relief payments. … Read More

The Paycheck Protection Program has run out of money for most borrowers before its planned May 31 end, the Small Business Administration said. Going forward, the program will only accept new applications from community financial institutions, which typically serve minority borrowers, as about $8 billion in funding was set aside for such businesses. The SBA will continue to fund outstanding … Read More

A few tips to help you navigate relationships with clients and coworkers alike: 1. Have a Direct Approach When having a conversation with a client, be direct and clear from the start. If possible, layout a plan of next steps instead of dancing around the subject or making excuses. People will appreciate an honest and direct approach about what happened … Read More

Since the beginning of the coronavirus pandemic, the government has sent out a few rounds of stimulus checks. Here’s a breakdown of the COVID-19 legislation and stimulus check amounts: CARES Act: $1,200/person maximum Consolidated Appropriations Act: $600/person maximum American Rescue Plan: $1,400/person maximum Not all taxpayers received checks each round, as they were based on an individual’s adjusted gross income. … Read More

The IRS and the Treasury Department are giving small businesses that received Paycheck Protection Program loans in the first round a way to deduct expenses they couldn’t claim last year. The Internal Revenue Service and the Treasury released Revenue Procedure 2021-20 on Thursday, which provides a safe harbor in accordance with a provision in last December’s COVID-19 relief package. Under … Read More

Security experts are seeing a rise this tax season in phishing schemes and malware tied to hot-button subjects like tax refunds, stimulus payments and COVID-19 vaccines. The Internal Revenue Service recently warned about an ongoing IRS-impersonation scam that mainly targets educational institutions, including students and staff who have “.edu” email addresses. The emails show the IRS logo and use subject … Read More