How to pay deferred self-employment tax
The CARES Act allowed self-employed individuals and household employers to defer the payment of some of their Social Security taxes on their 2020 tax returns.... Read More →
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Beware: You might have to pay back the Advance Child Tax Credit
As part of the American Rescue Plan Act of 2021,there is an expanded child tax credit with an option for advance payments and of course,... Read More →
Stimulus payments for small businesses and low-income Californians
The Governor has announced he will sign two bills today that will provide cash payments to qualified small businesses impacted by COVID-19 and lower-income families.... Read More →
How much did I receive in stimulus money?
If you cannot find Notice 1444 that confirms your stimulus payment amount, you can view the amounts of your Economic Impact Payments through your personal IRS... Read More →
2020 Filing Season – IRS will accept returns starting Feb 12
The IRS announced today that the 2020 filing season will start about 3 weeks later than usual. The IRS will start accepting returns on Friday... Read More →
2nd Stimulus Check may arrive by Debit Card
The Treasury Department and the IRS are issuing millions of second stimulus payments (aka Economic Impact Payments) by prepaid debit card to speed delivery of the... Read More →
1099-NEC filing requirement with California
If you own a business you are aware of the requirement to issue 1099s to all service providers who are not corporations who you pay... Read More →
PPP Round 2 will open the week of January 11th
The SBA has announced that the next round of the Paycheck Protection Program (PPP) will open January 11th. The options available are: “Second Draw” Loans for businesses... Read More →