ChrisRely

May 26, 2020

Your PPP Loan Forgiveness Will Probably be Less Than Anticipated

Article Highlights: Paycheck Protection Program Loan Terms Loan Amount Loan Forgiveness Reduction in Pay Decrease in Employees Qualified Expenses Limitation Documenting Forgiveness Now that you have […]
May 20, 2020

When Will I Get My Stimulus Check?

Article Highlights: Direct Deposit Stimulus Payments Reasons You May Not Be Receiving a Stimulus Payment Stimulus Payment Phase-Out Payment Schedule by Check Non-Filers The IRS has […]
April 24, 2020

New Twist for Kiddie Tax with a Refund Opportunity

Article Highlights: Appropriations Act of 2020 Children’s Tax-Filing Requirements Two Methods for 2018 and 2019 Amendment Possibility for a Dependent Child Standard Deduction Wages Self-employment Income […]
April 17, 2020

The Best Approach to Paying off Your Debt Quickly? It’s Unique to You

If you asked 10 different people how they were able to get out from under their debts as quickly as possible, you’d probably get 10 different […]
April 10, 2020

The Home Energy Saving Tax Credit Is Back

Article Highlights: Appropriations Act of 2020 Residential Energy (Efficient) Property Credit Lifetime Credit Credit Limits Qualifying Property Per Item Credit Limits Basis Adjustment Retroactive Application On […]
April 3, 2020

IRS Letters: Tax Scam or Something You Need to Address?

Your taxes contain an array of sensitive information, from financial data to your Social Security number or tax ID number. Because of this, there are many […]
March 27, 2020
IRA investments change

New Twist Added to the IRA-to-Charity Provision

Article Highlights Qualified Charitable Distributions (QCDs) Required Minimum Distribution Age Limit Repealed for Traditional IRA Contributions Coordination of QCDs and Deducted Traditional IRA Contributions Ever since […]
March 20, 2020

Congress Adds More Uses for College Savings Plans (Sec 529 Plans)

Article Highlights: Benefits of College Savings Plans Contributions Plan Modifications Tax Cuts & Jobs Act Appropriation Act of 2020 Prudence in Using the Funds Gift Tax […]
March 13, 2020
hiring tax credit

Congress Extends Employers’ Hiring Tax Credit for Another Year

Article Highlights: Potential Credit Eligible Employees Credit Determination Certification Process Other Issues On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, […]
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