New IRS guidance about tax deductions and PPP Loan Forgiveness getty What a year 2020 was, and so far, 2021 has been quite exciting as well. For business owners, we finally have some excellent news about PPP Loan forgiveness. After some confusion over the past year, we finally have some clarity to the question of
Taxes
getty For years, Treasury has advised taxpayers that virtual currency is not required to be reported on the Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial Accounts, or what used to be called the FBAR. That appears to be changing. FinCEN has now announced an intention to amend the rules
Albert Einstein is reputed to have said “Compound interest is the eighth wonder of the world. He who understands it earns it. He who doesn’t pays it.” Whether Albert Einstein really said that isn’t the point. Instead, consider that the point is well taken, and was never more well taken than when dealing with the
President-elect Joe Biden has unprecedented plans for the housing industry. His proposal for $640 billion over 10 years includes three tax incentives — a new renter’s tax credit, a refundable first-time homebuyer’s credit, and an expansion of the low-income housing tax credit (LIHTC). The incoming administration will likely review and finalize recently released proposed regulations (REG-119890-18) on
People. Need. Fun. Yeah, yeah…that’s not exactly news, but given the current climate, it bears repeating. The ‘Hamilton’ musical signage hangs outside of the Richard Rodgers Theatre in the Times Square area … [+] of New York, U.S., on Sunday, May 22, 2016. Forty theaters sold a record $1.365 billion worth of tickets during the