Possible PPP Legislation & 1099-B
Possible PPP Legislation:
https://www.bloomberg.com/news/articles/2020-05-26/hoyer-says-house-and-senate-close-on-ppp-loan-extension
Form W-4P
https://www.irs.gov/pub/irs-pdf/fw4p.pdf
IRS Notice 2020-3
https://www.irs.gov/pub/irs-drop/n-20-03.pdf
Calculating Capital Gains Tax on the Sale of a Collectible
Calculating Capital Gains Tax on the Sale of a Collectible Uncle Sam takes a tax bite out of almost every asset sold and collectibles are no exception. Indeed, collectibles are currently subject to one of the highest rates of federal taxation on an investment property. Long term Capital gain from the sale of a collectible…
Don’t Get Scammed on Your 2015 Tax Return
Don’t Get Scammed on Your 2015 Tax Return By Alan Olsen, CPA, MBA (tax) Managing Partner Greenstein Rogoff Olsen & Co. LLP It’s tax season and for a lot of people that can be a very scary time of year. Some people will attempt to go it alone and use an online tax program, while…
Sales Tax Deduction Option, State and Local
[vc_row][vc_column][vc_column_text] Sales Tax Deduction Option, State and Local The Tax Relief and Health Care Act of 2006 extended the election to deduct state and local general sales taxes for 2006. The act was enacted after Schedule A (Form 1040), Itemized Deductions, and its instructions were printed. Because we were not able to include the instructions…
California Unitary Group of Corporations; Intercompany Distributions; Deferred Gain Tracking
California Unitary Group of Corporations; Intercompany Distributions; Deferred Gain Tracking New Form 3726 – Deadline Extended to 10/15/09 Unitary Groups must do more tracking in some cases. The Franchise Tax Board wants to make sure deferred intercompany gains don’t get lost over the years (and therefore, never taxed), so they are forcing taxpayers to provide…