The IRS strongly urges taxpayers not to file amended returns related to the new legislative provisions or take other unnecessary steps at this time. The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits […]
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The American Rescue Plan Means More $$$ for Most Taxpayers
If you have been following the news, you know the new COVID relief plan should be signed by President Biden today. It’s called The American Rescue Plan. This plan not only includes another $1400 in stimulus payments for tax payers and their dependents, but it also includes other tax benefits for certain individuals applicable for […]
How Does Being a S-Corp Save You Taxes?
In short, when the business income is high enough – which 40,000 net or higher, an S-Corp could save the owner thousands in self-employment taxes
IRS Key Filing Season Dates
Its Tax Season… kinda Thanks to all the last minute tax law changes, we’ll be off to a late start; but, unless something changes the deadline will still be the same. So let’s go ahead and get this party started. There are several important dates taxpayers should keep in mind for this year’s filing season: […]
Think and Grow Rich Quote -Demand Prosperity – Epp 008
“Remember, no more effort is required to aim high in life, to demand abundance and prosperity, than is required to accept misery and poverty.” – Napoleon Hill
COVID Property Tax and Mortgage Relief for California Home Owners
Governor Newsom signed an executive order suspending penalties and interest for late property tax payments all the way until May 6, 2021.This relief, however, is not automatic. You actually must apply for relief through their county tax assessor, and only applies to people who pay their property tax directly to the county. If you use […]
California Health Insurance Mandate for Tax Year 2020
While it’s true the Federal government did away with the #HealthInsuranceMandate, California kept the show rolling with the California #HealthCareMandate effective tax year 2020. Beginning January 1, 2020, all California residents must either:(1) Have qualifying health insurance coverage, or (2) Obtain an exemption from the requirement to have coverage, or (3) Pay a penalty when […]
Ask Michelle!
People often ask me questions about taxes, small business and money at random. These are topics I SUPER LOVE so, in most cases, I will dive right in and start answering. I’ll probably tell you way more than you thought you wanted to know. This is great fun for me, and it’s also a form […]
Soloprenures and Entrepreneurs: Stop wasting your time [video]
From CEOs to Soloprenures – We all need gatekeepers If you are really running a REAL business with the intention of making revenues, you SHOULD BE concerned about maximizing the use of your time. Often times customers do not understand the value of your time. YOU must help them understand. In Anthony Parinello’s book, Secrets […]
Money For LIFE Webinar – Episode 007 [video]
Just how do you go about creating generational wealth for you and your family? Proverbs 13:22 says: “A good man leaves an inheritance for his children’s children.” Now… just how do you do that? It starts by getting some financial education. Then, you’ll need a lot of discipline and mostly liking some coaching. But let’s […]