by Stephen D. Hogan, Jr., CPA | May 20, 2020 | Uncategorized
As people across the country receive their Economic Impact Payments (IRS payment), some might receive a different amount than they expected. Eligible individuals receive a payment for $1,200. Two eligible individuals filing a joint return receive $2,400. And, eligible...
by Stephen D. Hogan, Jr., CPA | May 20, 2020 | Uncategorized
The New Employee Retention Credit The employee retention credit is designed to encourage businesses to keep employees on their payroll. The amount of the credit is 50% of qualified wages paid up to an annual limit of $10,000, which equals a maximum credit...
by Stephen D. Hogan, Jr., CPA | May 20, 2020 | Uncategorized
Due to COVID-19, the IRS is providing relief on a variety of issues as part of the People First Initiative. The IRS is modifying certain activities through the filing and payment deadline, Wednesday, July 15, 2020. Here’s what people need to know about relief...
by Stephen D. Hogan, Jr., CPA | May 20, 2020 | Uncategorized
Due to COVID-19, the IRS’ People First Initiative provides relief to taxpayers on a variety of issues from easing payment guidelines to delaying compliance actions. This relief is effective through the filing and payment deadline, Wednesday, July 15, 2020....
by Stephen D. Hogan, Jr., CPA | Feb 5, 2020 | Uncategorized
Small business owners should keep good records. This applies to all businesses, whether they have a couple dozen employees or just a few. Whether they install software or make soft-serve. Whether they cut hair or cut lawns. Keeping good records is an important part of...
by Stephen D. Hogan, Jr., CPA | Feb 5, 2020 | Uncategorized
When taxpayers complete their tax returns, some of them will owe money when they file. Here’s the thing…they have the right to pay only the amount of tax that is legally due. This is one of ten Taxpayer Bill of Rights. They are fundamental rights taxpayers have when...
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