Our Financial Blog

Haven’t Received Your Tax Refund Yet?

You are not alone. We have been hearing from clients who are still waiting on refunds from returns filed early in the year. In normal times, unless there is an error, the IRS will issue most refunds in less than 21 calendar days. However, 2021 is far from being a...

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Owe Taxes and Can’t Pay by the Due Date?

The vast majority of Americans get a tax refund from the IRS each spring, but what if you are one of those who end ends up owing? The IRS encourages you to pay the full amount of your tax liability on time by imposing significant penalties and interest on late...

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How To Pay Off Your SBA EIDL Loan

Last year when the pandemic started, Congress created two loan programs to help small businesses and the self-employed mitigate the economic impact; The Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL). With the uncertainty surrounding...

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Big Increase in Child Tax Credit For 2021

A big increase in child tax credit for 2021 is part of President Biden’s stimulus package to help tackle the coronavirus pandemic and stimulate the economy. This stimulus package, which was passed by Congress on March 10, 2021 and is known as the American Rescue Plan...

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You Can Expense Business IT Purchases

Thanks to some very liberal tax laws written to encourage investment in personal tangible equipment, including information technology (IT) equipment, many businesses will be able to expense (write off as a tax deduction) all such assets purchased and placed in service...

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Are Your Unemployment Benefits Taxable?

With the passage of the CARES Act stimulus package early in 2020, the federal government began supplementing the normal state weekly unemployment benefits by adding $600 per week through the end of July 2020. When this provision ran out, and with Congress at a...

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