With all of the last minute tax law changes the IRS needs more time to program their systems. Here are important filing dates: February 12th: IRS begins 2021 tax season. Individual tax returns begin being accepted and processing begins. February 22nd: Projected date for the IRS.gov Where’s My Refund tool being updated for those claiming […]
Debt
PPP2 Overview
Questions about PPP2? Here is an overview: How much is the loan amount? The amount is 2.5 times your average monthly payroll during 2019 or trailing 12 months. For hotels and restaurants the amount is 3.5 times average monthly payroll. How to qualify? You must have 300 or fewer employees Have already used or plan […]
Are You Tired of Overspending on Christmas?
Even with the best of intentions, almost everyone overspends on Christmas. Here are a few ideas to keep overspending to a minimum: Go easy on electronics: Electronic devices, aside from TV’s, are usually the smallest, most expensive items to purchase. Top of the line smart phones cost more money than computers and laptops. Also go […]
5 Black Friday Mistakes I Made in the Past
Today is Black Friday and there are sales on virtually everything. It can be both a fun and stressful experience, and there are some mistakes I made in the past: Allowing myself to be convinced to wake up at 5:30 AM or was it 4:30 AM?. Waking up early does not bring out my “best” […]
Are You Ready to Complete Your PPP Loan Forgiveness Application?
Did 24 weeks pass after you received your PPP funds? If so, then now is the time to complete your PPP loan forgiveness application. Here are a few tips from the SBA: There are several different forms to use, including SBA Form 3508, SBA Form 3508EZ, SBA Form 3508S, or a lender equivalent. To quickly […]
Do You Want a Free Credit Report?
Anytime you hear the word “Free” there is usually a catch and the free item isn’t really free. Surprisingly, you can receive a free credit report by doing this: Type annualcreditreport.com into your browser, click on “Request your free credit reports,” and start the process. It will take you less than 10 minutes and it […]
Don’t Do This
There is one financial transaction that I strongly discourage clients from doing and here’s why . . . Do not withdraw from your retirement accounts early! Here are the reasons why I hear most people want to withdraw from their retirement accounts: Purchase a house Pay for expenses while unemployed As a temporary loan, with […]
5 Risks to be Aware of that Will Hurt Your Finances
There are ups and downs in life, good times and bad, and everything in between. Unfortunately, some events can hurt your finances in a significant way and may even be beyond your control. What are some of these risks to be aware of and what can you control? Health Issues As we become older, there […]
Before You Open Up A New Location
It’s not a crazy idea, but now may be the time to open another location. Before you do, here are a few things you should consider: Do you still have capacity at your existing location? It’s much, much easier and less expensive to utilize your existing location to increase your sales and profits then to […]
More PPP Updates!
More PPP Updates: New Forgiveness Application: A new application to apply for loan forgiveness became available on June 16th. There is also an EZ Loan Forgiveness Application. Payroll Costs % Decrease Only 60% of loan proceeds must be used for payroll costs versus 75% with previously issued rules. Maturity Date Loans issues prior to June […]