One of the ways our firm provides the best service to clients is through partnerships with other providers. Today, I want to introduce you to Divvy, our financial technology partner. Divvy is a spend and expense management platform for business. That means you get financial software fused with smart corporate credit cards, bill pay functionality, […]
The Treasury Department and the Internal Revenue Service issued guidance today allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP). Today’s guidance, Revenue Ruling 2021-02, reflects changes to law contained in the […]
Spend A Little Time Each Week To Prepare For The April 15, 2021 Filing Deadline Most of the needed tax records to prepare your tax return will show up in the mail or online in January 2021. Collecting all your tax related documents is important so that we report a complete and accurate return. The […]
During Small Business Week, September 22-24, the Internal Revenue Service wants individuals to consider taking the home office deduction if they qualify. The benefit may allow taxpayers working from home to deduct certain expenses on their tax return. The home office deduction is available to qualifying self-employed taxpayers, independent contractors and those working in the gig […]
Question: How does “adjusted gross income” differ from “gross income”? Answer: For income tax purposes, there are three levels of income: gross income, adjusted gross income, and taxable income. Adjusted Gross Income. Firstly, to arrive at adjusted gross income (AGI), you are allowed a long list of deductions from gross income. For example, business expenses, certain […]
