When are business taxes due in 2020?
Everyone has been focused on the SBA loan provisions in the CARES Act, and are overlooking several other tax savings opportunities in the law. In this article we'll dive into the tax-free distributions from qualified retirement accounts.
Lots of questions arise during discussions about choosing the best IRA, regular or Roth. In general, your investment strategy should consider taxes (you can read more about that in this article), and that’s easy to overlook. You definitely don’t want tax to be the proverbial tail that wags the dog, but smart tax planning makes sure you keep more of what you earn.
The average accountant waits for you to show up with a folder full of stuff around tax time, and you’ll hear from them only when it’s time to write a painfully large check. Once this annual ritual is complete, you part ways (while you lick your wounds) and dread the next time when you’ll start the process again.
I will save my commentary until the end about this whole fiasco. The SBA announced yesterday that they are out of funding for the Paycheck Protection Program (PPP) and the advances on the Economic Injury Disaster Loans (EIDL). You did not get your application in, or you did, and you didn’t get any money. Now what?
Paycheck Protection Program or Tax Credits: Which Is Best for Your Small Business in the Time of Covid-19?
Wow! What a whirlwind the last week has been. Congress passed the CARES Act last Friday, and there is a ton in there to digest. For a current summary of all of the provisions, check out our COVD-19 Page. A lot of changes for all business owners, but let’s dig into one that is probably most urgent.
No. 1 on Netflix this week was the series “Tiger King,” documenting the real life story of Joe Maldonado, a.k.a. Joe Exotic, and his private zoo business. The series is 100 percent not safe for work, so don’t watch it at the office, but it does provide compelling examples of what NOT to do as a business owner.
You try on shoes; you test-drive a car, you even read the online samples of a book before you make a purchase. Doing your due diligence is just part of the process in any purchase, and we’d expect nothing less if you’re looking at bringing Core Group into the fold to take your business to the next level.