2020 Deficits and Potential Payroll Tax Holiday

The Biden Administration Corporate Tax Proposal

California Health Insurance Penalty:
https://www.coveredca.com/individuals-and-families/getting-covered/penalty-and-exemptions/

Guidance addresses deductibility of expenses related to Paycheck Protection Program loans:
https://newsletters.usdbriefs.com/2020/Tax/TNV/200501_1.pdf

$3.7 Trillion Deficit:
https://newsletters.usdbriefs.com/2020/Tax/TNV/200501_3.pdf

Fewer People filed by April 15th:
https://www.cpapracticeadvisor.com/tax-compliance/news/21135618/21-million-taxpayers-delayed-filing-past-april-15

Payroll Tax Holiday
https://www.washingtonexaminer.com/news/white-house-strongly-considering-demand-to-include-payroll-tax-cuts-in-next-relief-package

Huge Decisions Loom for Lawmakers on Obamacare Taxes

  One of the biggest calling cards of the Republican Party for the last several years, including President Donald Trump, has been to repeal the Affordable Care Act, also known as Obamacare. Although Obamacare has faced much opposition throughout its existence, recent polls suggest that most Americans don’t want it repealed, especially if there is…

Taxes: DIY or Hire a Professional?

  Are you struggling with that ever-so-common question at this time of year: When will the sun come out again so I can play golf? Not that question. This one: Should I do my taxes myself or hire a professional? This is a very important question because the consequences of your choice can be significant.…

CAPITAL GAINS Taxes: DETERMINING YOUR TAX BASIS

How to Avoid Capital Gains Taxes

  For many of the nation’s high net worth individuals, much of their wealth comes from capital gains. Capital gains are better than income because they are taxed at a much lower percentage than other income. While capital gains taxes could be going down under the Trump administration, it still pays to know every trick…

When Should You Receive Your Tax Refund?

  The top question on everyone’s mind at tax season is when will get my refund? After all, that’s the only incentive people really have to do their taxes. The problem is the answer is never set in stone. Despite claims from the IRS that just about everyone should receive their refund within 21 days…