by Andrews Tax Accounting & Bookkeeping | Mar 31, 2020 | Educational
The CARES Act Part of the relief from the CARES Act is for small businesses. To keep workers employed and small businesses open, $350 billion dollars has been allocated towards small businesses. Additionally, these loans may be forgiven if small business owners...
by Andrews Tax Accounting & Bookkeeping | Mar 27, 2020 | Educational
Part of the CARES Act Each adult will receive $1,200 ($2,400 for couples) in relief and $500 per child. Relief payments are based on your adjusted gross income reported on your 2019 tax return. Some ineligible payments include children of the age of 17-18 years old,...
by Andrews Tax Accounting & Bookkeeping | Mar 20, 2020 | Educational
Tax Season Extended Tax Day has been moved from April 15th to July 15th. So, not only do taxpayers have more time to file their business and personal returns, but no penalties or interest will accumulate between April and July as well. Small Business With request the...
by Andrews Tax Accounting & Bookkeeping | Mar 11, 2020 | Educational
Extensions And Your Tax Payment Right now, the last thing on your mind is filing your tax return. With just about a month left to file, many taxpayers leaning towards extensions. Note that, although an extension lets you file your return by October 15th, you still...
by Andrews Tax Accounting & Bookkeeping | Mar 4, 2020 | Educational
What Are Tax Credits? Tax credits are used to offset what you may owe in taxes. There are two types of these credits. Nonrefundable Credits Nonrefundable credits offset your tax bill and can go as far as getting you a refund. But your refund can only be as much as you...
by Andrews Tax Accounting & Bookkeeping | Feb 26, 2020 | Educational
Defining IRA An IRA is a way to invest in your future and save for your retirement. There are four main IRAs all with different advantages. Four Different IRAs Contributions to a traditional individual retirement account are usually tax-deductible. When you take money...
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