Siobhan

As we get further into tax season, I’m seeing more clients with EIDL loans.  I’m also seeing folks not having or understanding all of the information about these loans, so here are the basics: The EIDL loan proceeds are intended to pay for your normal operating costs of doing business to keep you open & […]

[updated 3/22/2022] Cryptocurrency / virtual currency tax reporting – FAQ We are seeing a lot more of our clients with virtual currency transactions recently, so we’ve put together this FAQ to assist with tax reporting of these transactions. All I did was buy cryptos, do I need to report anything? Yes. Your tax return includes […]

  On December 21, 2020 the House & Senate passed a new round of COVID-relief legislation, which was signed into law on December 27, 2020.  Below are the primary updates that apply to many of our clients.  Please note that this is not comprehensive (the bill is over 5,000 pages long!) and we are waiting […]

  Applying for PPP loan forgiveness – is it time? This is a question we are receiving almost daily and the answer is, “it depends.” When you apply for PPP loan forgiveness, your bank has up to 60 days to review and approve your forgiveness.  Then they send it to the SBA.  The SBA has […]

Filing 1099 Forms Between complex rules and changes in filing requirements over the years, there is a lot of confusion around 1099s.  This article covers, who is required to file 1099s, to whom they need to be issued, when they are due, and a few related resources to help you with how to file them. […]

I’m starting to hear reports of a few clients receiving EIDL loan funds from the SBA, and we are receiving questions on this program, so here are the basics: The EIDL loan proceeds are intended to pay for your normal operating costs of doing business to keep you open & in business when you otherwise […]