Category Archives for Taxation
Tax Deadlines
Deadlines for annual returns are almost invariably in the spring, with extensions available until the fall:Individual income tax returns: April 15 falls on a weekday in 2021, and it's not a holiday
Continue reading
The Rock & Roll Real Estate Hour with Mike McCormick, CPA of Financial Clarity Group.
Tune into The Rock & Roll Real Estate Hour with Cincinnati Real Estate Agent, Gary Rossignol interviewing Financial Clarity Group’s very own Michael McCormick.
Continue readingPPP Forgiveness Update
PPP Forgiveness Update Webinar Join us Friday November 13th 2pm EST PPP Forgiveness As the early PPP covered periods come to an end the SBA and banks are preparing to process forgiveness
Continue readingOhio Small Business Relief Grant
Ohio Small Business Relief Grant Applications open November 2, 2020 Dewine makes $125,000,00 available to businesses https://governor.ohio.gov/wps/portal/gov/governor/media/news-and-media/cares-act-funding-announcement-10232020 Visit
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 readingRMDs Suspended for 2020
The CARES Act signed into law earlier this year waives all required minimum distributions (RMDs) for 2020. What if you already took your annual RMD? The IRS has granted a rare tax time machine to un-do
Continue readingPPP forgiveness update
Mnuchin suggests forgiving smaller PPP loans without verification
Continue readingPPP Auto Forgiveness on the table.
The Paycheck Protection Small Business Forgiveness Act is currently in the Senate. The ACT would forgive PPP loans of $150,000 or less based on the borrower submitting a one page attestation to
Continue readingEnd of PPP loan applications extended to August 8.
With only hours to spare on June 30th Congress extended the PPP application deadline to August 8. Both the House and Senate unanimously passed the legislation which will now go to the President of signature. Forbes
Continue readingThe IRS is on your side!
For once. In a stunning turn of events the IRS is allowing any RMD taken thus far in 2020 to be "rolled-over" into a qualified plan or IRA by August 31, 2020. The one rollover per year - suspended RMDs
Continue readingSenate passes Paycheck Protection Flexibility 06/03/2020
Senate passes keyPaycheck Protection Flexibility ActJune 3rd, 2020. With nearly unanimous support the Senate passed the Paycheck Protection Flexibility Act. The legislation will now go to the
Continue readingPaycheck Protection Plan Webinar Series
PPP Webinar Series 10:30am Wednesdays How to effectively track and monitor PPP loan proceeds for maximum forgiveness. Including Legislation and Regulation update. SBA PPP Loans have been and are
Continue readingWhat to do with erroneous stimulus payment
Receive an erroneous Economic Impact Stimulus Payment? The IRS has begun sending checks and making direct deposits of the economic impact stimulus payments authorized by Congress in April 2020. The
Continue readingTracking PPP Loan Proceeds
Track the use of your PPP Loan Proceeds The PPP loan planning and tracking spreadsheet mentioned in last week's webinar is available. The registration page is located here: https://www.financialclaritygroup.com/ppptracking/ If
Continue reading