The state of North Carolina passed their state budget for 2022 and included two items that impact small business and small business owners: PPP Loan Forgiveness not taxable at the state level. Prior to this budget passing, owners of small…
For those small businesses impacted by the Coronavirus, the SBA (U.S. Small Business Association) will be accepting applications for low-interest rate loans to help with working capital.
INTRODUCTION With year-end approaching, this is the time of year we suggest possible year-end tax strategies for our clients. However, there has never been a year quite like 2020. We think it is safe to say that year-end tax planning…
INTRODUCTION It’s that time of year when businesses normally start developing year-end planning strategies. However, there has never been a year quite like 2020. We think it is safe to say that year-end tax planning for 2020 is proving to…
As part of the CARES Act, the Federal Treasury has started a lending program but very few people have heard about the Main Street Lending Program as it has been over-shadowed by the Paycheck Protection Program and the Economic Injury Disaster Assistance Loan.
For those small businesses impacted by the Coronavirus, the SBA (U.S. Small Business Association) will be accepting applications for low-interest rate loans to help with working capital.
For those small businesses impacted by the Coronavirus, the SBA (U.S. Small Business Association) will be accepting applications for low-interest rate loans to help with working capital.
AICPA Update – March 18, 2020 — Volume 27 No. 15 In a press conference on Tuesday, Treasury Secretary Steven Mnuchin announced that individuals and corporations can delay their tax payments for 90 days due to the coronavirus pandemic. Individuals…
LB&J Business Update – Updated March 31st, 2020 CARES Act is now official and the application process is available! Learn more about the differences between the different loans and potential free money opportunities available to small businesses by clicking here…
For those small businesses impacted by the Coronavirus, the SBA (U.S. Small Business Association) will be accepting applications for low-interest rate loans to help with working capital.
If you know how real estate business taxes work, you can make plans that minimize your tax burden and maximize your profit.
By Eric Little, CPA – Money is a common stumbling block for startup businesses. Business leaders need it to hire employees, rent an office and eventually sell their products. But startups, almost by definition, don’t have a lot of extra…
Here are a few things you can do before the end of the year to keep your income taxes as low as possible. Due to the new tax legislation, many people are taking the new standard deduction. If you are…
An office manager incorrectly reported $90,000 of bank transfers as income. We found the error and got the client a $35,000 refund.
We amended 3 years of tax returns to get the client $60,000 of refunds.
We obtained a new client whose tax return was fairly complicated compared to prior years
We determined that our client’s share of the business was worth about $200,000, a $105,000 increase
We discovered the Tax Lien for $200,000 had a typo & it should have been $20,000. The client was extremely happy with this discovery.
We had a client with a $53 Million Dollar IRS Tax Lien. Was that a typo? No. 53 MILLION.
Client had a $1.5 Million IRS Tax Lien. We negotiated an offer for $1,800.