Category Archives for WeeklyTaxBreak
Creating your own St. Patrick’s Day Pot of Gold
Creating your own Pot O'Gold March, the month for green. Not in the sense that spring is coming complete with the anticipation of green leaves and green grass that needs mowing (sorry, that part can wait).
Continue reading2021 Child Tax Credit
2021 Child Tax CreditWhich children qualify?For tax year 2021, a qualifying child is an individual who does not turn 18 before January 1, 2022, and who satisfies the following conditions:The individual
Continue readingGet a Taxpayer IP Pin to protect your account at the IRS.
Security Summit: Tax pros should encourage clients to obtain IP PINs to protect against tax-related identity theft.WASHINGTON : Internal Revenue Service Security Summit partners today called on tax professionals
Continue readingPPP Forgiveness Update
PPP Forgiveness Update Webinar Join us Friday November 13th 2pm ESTPPP ForgivenessAs the early PPP covered periods come to an end the SBA and banks are preparing to process forgiveness applications.
Continue readingDeductibility of expenses paid with PPP loan proceeds
SBA update on deductibility of expenses paid withPPP loan proceeds Click to Learn More
Continue readingSimplified PPP Forgiveness 10/09/2020
Simplified Forgiveness for PPP loansunder $50,000! Click to Learn More
Continue readingMust I deduct all my business expenses?
Must I deduct all my business expenses?Client says mortgage broker suggested that they remove their business expenses to look more appealing for a mortgage. ie Their income would falsely appear to be higher."If
Continue readingThe media is getting it wrong, again!
What did they do?The media is focusing on the wrong issue creating the wrong buzz. They shouldn't be focusing on the tax refund you are or are not receiving as the case may be, as a result of filing your
Continue readingWhoa Willie!
If you're a fan of Willie Nelson, just hearing his name is probably enough to summon some of his favorite tunes into your mind. And given that he's recorded over 60 studio albums throughout his career,
Continue readingThriving Agent webinar Series
The Thriving Agent - webinar series Join Mike McCormick, CPA and Dave Toney, CPA as they discuss topics relevant to real estate agents. They will begin the conversation with a topic that directly
Continue readingMike was on Comfort Killers talking tax planning
Michael McCormick joined Stacy A. Cross on the Comfort Killers podcast to talk about tax planning and the book of tax discounts. Check it out...Mike McCormick, CPA “When Was The Last Time Your Tax
Continue readingWho’s On First?
Who Loses Everything Because of Tax Evasion?When we think of celebrities trying to dodge the IRS, we tend to think of contemporary examples. Wesley Snipes or Martha Stewart, for example, who have had fairly
Continue readingEven Martha Stewart Couldn’t Craft A Way Out of Paying Taxes
When most people think of Martha Stewart, they think of one of two things. Either she built one of the most successful brand names in housewares and do-it-yourself crafts, or she’s a convicted felon.
Continue readingA little tip from the ole’ IRS
Like the all seeing eye, we all know the IRS is watching everything we do that involves money. Every paycheck, every bit of interest and dividends, and every inheritance you receive the IRS is right there,
Continue readingEven Vampire Hunters Can’t Slay Without The Proper Tax Plan
Black Panther has been one of the most successful films in general, and a stand-out as a superhero film. In addition to its rich setting and compelling performances, though, the film was lauded as the
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