STIMULUS AND 2020 TAXES INTERTWINED
Stimulus and 2020 taxes intertwined. Your taxes have a lot more to do with your stimulus checks than you may think—and that goes for the first and second direct payments as well as a potential third stimulus check. Your federal income tax plays a major role in determining the size of the check the IRS […]
NEXT STIMULUS COULD BE SMALLER
Next stimulus could be smaller. Republicans are trying to whittle down the next stimulus check. But due to promises made during his campaign, President Biden has stated the amount, along with the $600 already paid out, must total $2000. “That’s what the American people were promised,” President Joe Biden said during a White House event. […]
CALCULATING TAXES FOR YOUR BUSINESS
Calculating taxes for your business. Tax liability is the amount of tax that you owe a particular tax authority. While the most common tax authority is the IRS, small businesses can also have a tax liability for other tax authorities including state and local jurisdictions. What is tax liability ? Liabilities represent money that your […]
IS IT TIME FOR A SIMPLE FLAT TAX
Is it time for a simple flat tax. It’s time for a simplified personal income tax system–a flat personal income tax. And, it’s time to end class warfare revolving around it. Section 199A deduction is computed ? ON the same topic, don’t be naive to think your tax preparer knows all of the steps necessary […]
TOO MUCH STIMULUS SEND IT BACK
Too much stimulus send it back. Tens of millions of Americans waited months for a second stimulus check to by approved. within days of December’s COVID-19 relief bill being signed into law, the U.S. Treasury and IRS moved quickly to send out the second direct payment in order to meet the Jan. 15 deadline. With […]
