BIDEN TOUTS DEFICIT REDUCTION BY HIM

Biden touts deficit reduction by him. President Biden has stated that the government coffers have improved significantly since he took office, compared to former President Trump. Besides the quarterly reduction in the national debt, the Treasury Department estimates that this fiscal year’s budget deficit will decline $1.5 trillion, That decrease marks a big improvement from […]

GUIDE TO PPL LOAN FORGIVENESS

Guide to ppl loan forgiveness. Under the Paycheck Protection Program, PPL created by the CARES Act, loans may be forgiven if borrowers use the proceeds to maintain their payroll and pay other specified expenses. One of the single biggest ways the federal government sought to aid businesses suffering from the coronavirus related shutdowns was the […]

IRS WITHHOLDING CALCULATOR

IRS withholding calculator. Most people are unaware of the IRS withholding calculator. We are often asked the question, am I withholding enough from my taxes to cover what I will owe ?  This question comes up usually around tax filing season, but often throughout the tax year. Its important to understand that if you have […]

MAXIMIZING THE TAX FILING DEADLINE

Maximizing the tax filing deadline. 2020 has been an odd year, to say the least. It seems that everything has been delayed or postponed to another time due to the COVID-19 crisis. This delay applies to tax season as well as the treasury Department and the IRS announced in March that the federal income tax […]

STEALTH BAILOUT GIVES MILLIONS TO BIG OIL

    Stealth bailout gives millions to big oil. As it headed toward bankruptcy, Diamond Offshore Drilling Inc. took advantage of a little noticed provision in the stimulus bill Congress passed in March to get a $9.7 million tax refund. Then it asked a bankruptcy Judge to authorize the same amount as bonuses to nine executives. […]

2019 EXPENSES THAT ARE DEDUCTIBLE ?

2019 expenses that are deductible ? The Tax Cuts and Jobs Act changed the way individuals and businesses were able to deduct certain expenses on their income tax returns. Some items are no longer deductible and some are still allowed. Here is a partial list of those expenses. 2019 expenses that are deductible ? Medical […]

THE RED HOT DIGITAL TAX DISPUTE

The red hot digital tax dispute. In the Ron Howard film, A Beautiful Mind, Russell Crowe plays troubled math genius John Nash. In one famous scene, Nash and his male friends are in a bar when in walks a group of women. Nash realizes that if all members of his crew compete for the most […]

TRUMPS TAX RETURN COURT BATTLE

Trumps tax return court battle. The effort to obtain President Donald Trump’s IRS tax returns is heating up as the president and his administration battle coast to coast to prevent them from falling into hostile hands and potentially being made public. In New York, the president seeks to prevent Manhattan District Attorney Cyrus Vance from […]