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This year has finally come to an end and as I prepare for the coming tax season, I wanted to inform everyone about the Coronavirus Relief and Government Funding Bill that was signed into law on December 27, 2020. Many businesses and individuals are still suffering and struggling to survive, while I did hope […]
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You may have heard or read it all by now, but here is an explanation of what the four executive orders are and how they affect you:120 Day Eviction MoratoriumThe CARES Act, that provided the eviction moratorium, expired on July 24. Since then, the Federal Housing Finance Agency (FHFA) announced that the Federal National Mortgage […]
Read MoreQuick Reminder the deadline for filing and paying taxes is quickly approaching, July 15th is less than 45 days away. If you have not filed your tax return, you still have time, do not procrastinate any longer! If you owe and have not paid, make sure you do on or before July 15th to avoid any […]
Read MoreHigher Education Emergency Relief fund- Student Aid brings some much-needed help to college students. As a part of the CARES Act, a new student emergency financial aid grant is available to qualifying students through their college or university. We put together some information to see if you can take advantage of this new benefit. […]
Read MoreThese past few months have been hard for so many and I am glad to see that businesses are starting to see the loans they applied for come in. However, these are loans which means there are rules to follow. Here is some guidance that will help you understand what is next. If you are among […]
Read MoreAs most of you know the largest economic stimulus bill was signed it into law on Friday, March 27, 2020. This $2 trillion CARES Act addresses financial relief for individuals and businesses.To help you know and understand this new bill, we have read the 800-pages and here are the details that you need know […]
Read MoreHappy New Year everyone! As the old saying goes there are two things that are definite, death and taxes. Therefore, this month I thought it would be a good idea to talk about taxes once a family member passes. Not that I want to bring anyone down, but I find more people need to know […]
Read MoreHello Everyone, it has been a couple of months since I sent out my newsletter, so Happy belated Thanksgiving and a VERY HAPPY HOLIDAYS! Many of you have heard, but some may not know, as to why you have not heard from me. I have had the opportunity to go back to school and […]
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I recently did a presentation on virtual currency transactions since the IRS started sending letters to taxpayers with virtual currency transactions who potentially failed to report income or did not report their transactions properly. It was a topic I felt needed to be addressed, but with the interest from those present and those who […]
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Individuals who make money from a hobby must report that income on their tax returns. However, the rules for how to report the income and expenses depend on whether the activity is a hobby or a business. If someone has a business, they operate the business to make a profit. People who engage in […]
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