Seven Insights into PPP Loan Forgiveness for the Self-Employed

When you are self-employed with no employees, the Paycheck Protection Program (PPP) is designed to help you get through this pandemic. If you now have your PPP funds, we have identified seven insights for you.   1. New Law, Enacted June 5, 2020, Creates Easier...

Use Your Business to Maximize Charitable Donations

Giving to your church, school, or other 501(c)(3) charity is a noble act no matter how you choose to give. But for the purposes of tax savings, some forms of giving are much more beneficial to you than are others. As a business owner, you can use some business...

COVID-19: Significant Payroll and Self-Employment Tax Relief

If you are in business for yourself—say, as a corporation or self-employed—payroll taxes and self-employment taxes are likely two of your biggest tax burdens. Here’s some possible good news: Congress decided to give you significant relief from these taxes due to the...

Why a SIMPLE-IRA Could Be Your Best Retirement Plan Alternative

Talk to a business owner who has been in business for a while and he or she will tell you to make sure that you put a retirement plan in place. When you are starting out and have modest income, the Savings Incentive Match Plan for Employees (SIMPLE) IRA can be the...

Self-Employed Senior? Collect Your Rightful Tax Breaks

If you are an “experienced” self-employed individual, you are entitled to some tax breaks that younger self-employed folks cannot claim. If you are self-employed, you have much to think about as you enter your senior years, and that includes retirement savings and...