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Talking 2020 Taxes


Talking 2020 Taxes
By Madisson Haynes
After a one-month extension, the federal income tax filing deadline is May 17. The process includes obtaining any relevant financial documentation and filing it with the government. There s paperwork involved and a few different ways you can file your taxes, and we thought we d be able to provide some guidance on a few of those issues. 
For those new to filing taxes, unsure about the process or to people who just have a curiosity for the industry, check out these eight videos below. 
Tax Forum 2021: An Unprecedented Tax Year
Tax Forum
If you re looking for specific 2020 tax information, expert CPAs Gregory Porcaro and Patricia Thompson discuss the challenges of filing personal and business taxes for tax year 2020 against the backdrop of government support programs and direct payments during the COVID-19 pandemic. This knowledge is courtesy of Tax Forum. ....

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How to claim tax credits and deductions for your small business


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Small businesses can take advantage of both federal aid under the CARES Act and certain tax deductions.
Businesses may now have PPP loans forgiven and also claim the employee retention tax credit.
The energy-efficient building deduction and work-opportunity tax break have been extended.
Congress passed regulations in December that made several changes to business tax deductions and incentives. They aren t only in favor of big companies and corporations small business owners can take advantage of these just the same. 
One of the major changes brought by the Consolidated Appropriations Act is that businesses borrowing through the Paycheck Protection Program (PPP) are now allowed to both receive a loan and claim the employee retention tax credit. Under the original ....

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