PPP LOANS AND FOREGIVENESS

The past few months have been very trying on businesses and individuals. No one seems to have been spared.  As you may have heard on the news Congress passed funds available to businesses as PPP loans and extended the use of the funds in order to qualify for...

MOVING EXPENSES CAN BE DEDUCTIBLE

We all move at some point. Some more than others. If you move more at least 50 miles farther from your old home than your previous job location, then moving costs can be deductible. There is also a time test, you must work at your new job at least 39 weeks in the...

WARNING-NEW SCAM FEDERAL STUDENT TAX

The Internal Revenue Service has issued a warning to taxpayers about bogus phone calls from IRS impersonators demanding payment for a non-existent tax, the “federal student tax.” Even though the tax deadline has come and gone, scammers continue to use...

KEEPING RECORDS SAFE

It is a common question how long to keep your tax records.  But more importantly today you need to worry about keeping your records safe.  Most of us usually store old records in boxes in the garage, but what if your house or garage is broken into.  All of your...

What to know about Capital Gains

Did you know that almost everything you own and use for personal or investment purposes is a capital asset? Capital assets include a home, household furnishings, stock, bonds and collectibles. Basically everything you own. When you sell a capital asset, the difference...