What should you do if you don’t want to be “wrongly accused” and caught up in the crack down on billions of taxable income dollars that go unreported via payments on apps like Venmo and PayPal?
Tax & Accounting Quick Question
If it feels like everybody is working from home these days, it’s because they are. That’s probably why it is a common query as to whether or not a person can claim the home office deduction.
Great. One more tax to pay. But this one can save you money. Let us help make it easy… complete with pictures.
By far, the number one question we hear, typically thrown out in almost “hey why not” fashion, is: “What can I do to pay less in tax?”
This is not a drill! We cover all the recent updates and new information regarding tax deadline shifts – what is included and what is not, the second draw opportunity for the Paycheck Protection Program and the targeted EIDL advance application.
So, what was in the bill? It was a quick 600+ pages of dolling out dollars!
Beyond having a great idea, product, or service; beyond being able to lead a team; beyond being able to get your message out and generate attention; beyond doing the work… your business needs cash!
When asked: What is the biggest change in tax law (TCJA) from last year and how will it impact growing businesses?
My answer is cash flow!
Q2: Do I have to pay my estimates?
Like all accounting and tax questions – the answer is “it depends” and it’s not quick.