You may have heard that the IRS extended the individual tax deadline by one month to May 17th, but there are important updates to know as follows: The deadline to file corporate taxes has not been extended and is still April 15th States are expected to extend their deadline, but we’ll have to wait and […]
Economy
PPP Deadline Approaching
The deadline for the PPP loan is March 31st, so do not wait to apply if you qualify. Some tips are as follows: Apply through your existing bank You must have 300 or fewer employees Have already used or plan to use your original PPP funds Can demonstrate at least a 25% reduction in revenue […]
Possible Extensions
There have been major challenges with being able to file tax returns, especially business returns, which are due soon on March 15th for s-corporations and partnerships. This relates to new tax laws, loan forgiveness, and delays with states approving tax forms and software. Additionally, New Jersey has new complexities with its new BAIT (Business Alternative […]
IRS Delays Tax Season Plus Important Deadline Reminders
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 […]
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” […]
4 Business Ideas During These Times
What are some business ideas that you can implement and that should thrive during these times and in the future? Here are 4 to choose from: Marketing Services This includes web design, social media marketing, and developing content for your customers. The online marketing trend should continue and there will be a demand for this […]
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 […]
What Changes Will You Make?
Hopefully we don’t see a pandemic like COVID-19 in a long time or never see one again. Aside from practicing safety, there are many business changes that you are probably thinking of making and here are a few examples: Work from Home More, but not too Much Now that many of us have been forced […]
A Few PPP Loan Forgiveness Tactics
You want to make sure that as much of your PPP loan is forgiven as possible. Here are a few ways you may not have thought of: Non-Payroll Costs: You can include interest payments on loans, the cost of telephone services, including your cell phone, faxes, VOIP services, and Internet services, fuel for your vehicles, […]