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If You Took PPP Loans, It’s Time to Work on Getting them Forgiven…IT’S NOT AUTOMATIC!

Many business owners cheered as the news came out about the Paycheck Protection Program (PPP) loans. The money was not distributed perfectly, but for a “rush job” it was still done pretty well. Then, the money went out and we have witnessed the result, in that many businesses that had no customers for weeks and months are reopened and here to serve.

Tax Planning in Down Markets

Well, investors aren’t going to have a very good weekend.  Many are losing net worth, and fear of the real economic effects of a major national or international event, such as the looming possibility of a corona virus pandemic, is not a topic that anyone likes to deal with.

2020 Tax Deductions and Credits

Federal tax season is here! And with it comes a new set of opportunities to reduce your tax bill and maximize your refund.

Here’s a brief look at different tax advantages and the most common tax deductions and credits available to your family in 2020. 

What is a tax deduction?

The First Major Deadline of the Tax Season is Looming!

Many people think of the IRS filing deadline as April 15th.  Simple right?  In fact, there are deadlines all year long, something different every month.  IRS Publication 509 has the outlines, if you want a quick search to look something up.

They Zig, We Zag. Zag with Main Street Tax!

People who are worried about the 10 year rule, requiring beneficiaries of inherited IRAs to withdraw the entire balance within 10 years, can double that time with a CRT beneficiary in front of inheritors.  What if you really have a big IRA and the 10 year rule just isn’t enough of a stretch to help your beneficiary stay out of the top tax bracket?

Sometimes It’s the Little Things That Come Back to Bite You

Since they are only done once a year, the little things regarding the tax code are often overlooked or forgotten.  In some cases, this can lead to unintended penalties and fines.  

Tax Season Is Here Again! Relax with Main Street Tax!

There are many ways a tax return can be done that are all OK with the IRS, but only  one of those ways nets the largest refund!  People need to understand this across America, and we talk about tax planning constantly.

Social Security Facts for 2019

As of December 2018, more than 43.7 million retired Americans collected Social Security, with more than 8 million disabled workers collecting benefits as well. But Social Security is much more than retirement income. Along with providing a small income to millions of seniors, Social Security also provides life insurance as well as survivor benefits.

Ten Estate Planning Questions for 2018

  1. Can you afford to give away money now? You shouldn’t gift large sums to your children or charity unless you’re confident you have enough for your own retirement. There’s no limit on gifts to charity, though your annual tax deduction may be capped.


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