Category Archives: Financial Planning

Relief for Other Coronavirus-related Tax Issues

CoronavirusRelief for taxpayers facing the challenges of COVID-19-related tax issues is now available through the IRS People First initiative. The projected start date will be April 1 and the effort will initially run through July 15, 2020. During this period, to the maximum extent possible, in-person contact will be avoided; however, the IRS will continue to take steps where necessary to protect all applicable statutes of limitations. Continue reading

Tax Returns & Estimated Taxes Now Due July 15

Tax DeadlineDue to the coronavirus pandemic, the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. Continue reading

Tax Extenders, Retirement Plan Changes, and Repeals

tax changesThe Further Consolidated Appropriations Act of 2020, signed into law on December 20, 2019, extended a number of expired tax provisions for business and individuals through 2020. It also included several retirement plan changes and repealed three health care taxes. Here’s what you need to know: Continue reading

Starting a Home-Based Business

home-based businessMore than half of all businesses today are home-based. Every day, people are striking out and achieving economic and creative independence by turning their skills into dollars. Garages, basements, and attics are being transformed into the corporate headquarters of the newest entrepreneurs: home-based business people. Continue reading

Got Debt? Tips to Improve Your Financial Situation

trouble paying debtsIf you are having trouble paying your debts, it is important to take action sooner rather than later. Doing nothing leads to much larger problems in the future, whether it’s a bad credit record or bankruptcy resulting in the loss of assets and even your home. If you’re in financial trouble, then these steps will help you to avoid financial ruin in the future. Continue reading