Every year scammers come up with new ways to trick you into providing personal information. Here are some ways to recognize these scams. Email phishing scams are common, and you should know that the IRS will generally send you a bill in the mail if you owe taxes. Calls or visits to a home or busi...
Tomorrow is the deadline to file your business taxes and make your tax payment. Please be mindful of a few other deadlines occurring on July 15th: 2020 Quarter 1 & 2 estimated tax payments are 7/15/20 Extensions are due 7/15/20 Note: Be mindful, if you file an extension, this does not extend the ...
The Paycheck Protection Program (PPP) Loan has provided aid to several small businesses that have faced financial challenges due to the COVID-19 pandemic. However, Tuesday, June 30, 2020, is the last day to apply for a PPP loan. To consider is your business might benefit from applying for a PPP L...
Has your Small Business been impacted by COVID-19? If you were in business as of 2/15/2020, you may be eligible for the Economic Injury Disaster Loan Program. The application has reopened and is available to fill out online at
Did you have a tax liability in the prior year? If so, you may be subject to quarterly estimated tax payments. Due to the COVID-19 pandemic, the IRS has extended the 1st and 2nd quarterly estimated tax payment deadlines to July 15th, 2020. Individuals, including sole proprietors, partners, and S ...
In light of the COVID 19 pandemic, many people now find themselves working from home. You may have experienced an increase in your household expenses and may now be wondering if you qualify for a home office deduction in 2020. The key points below outline who will and will not be eligible for a h...
"The hardest thing in the world to understand is the income tax" – Albert Einstein There are only a few things that people find more confusing than income tax. Therefore, it is not surprising that every year approximately 3 million taxpayers file amended tax returns. If you've had to file an amen...
Did the IRS overpay you?The IRS has successfully delivered millions of stimulus payments under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, however, not all payments were made for the proper amount. If you had a major life change in 2018 or 2019, there may have been an error wi...
Do you owe money to the IRS? Have you heard about the IRS People First Initiative?Due to the COVID-19 pandemic, the IRS released a People First Initiative to help ease taxpayers' burdens during this unprecedented time. Some of the key provisions of the Peoples First Initiative are as follows: Tax...
Have you received an Economic Impact Payment from the Coronavirus Aid, Relief, and Economic Security (CARES) Act? If so, was it what you excepted? Here are a few reasons why your payment might not have been what you were anticipating:You haven't filed your 2019 tax return - If you haven't filed y...

Krystin Mitchell, CPA CFE

Strategic Accounting & Tax Solutions
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