Articles
Contribution Deadline for IRAs and More Changed to May 17th
What is the last day to contribute to an IRA for 2020? Taxpayers now have until May 17, 2021, to contribute to their Individual Retirement Accounts (IRAs), Health Savings Accounts (HSAs), and Coverdell Education Savings Accounts (ESAs), according to a statement by the...
Tax Rules for Buying and Selling Bitcoin and Other Crypto
From my article on Entrepreneur When you buy Bitcoin and sell it for a profit you are subject to capital-gains taxes. This is the case whether you buy Bitcoin and sell it for dollars or whether you exchange it for other cryptocurrency for a profit. This is also the...
New Stimulus Bill Includes Second Round of PPP Loans for Small Business and Forgiveness Rule Changes Favorable to Borrowers
From my article on Entrepreneur Congress at last passed a second stimulus bill this week — as of this writing, it is still awaiting President Trump's signature — and it includes a second round of PPP loans for affected small businesses as well as loan-forgiveness rule...
SBA Approves Simple 1-Page PPP Forgiveness Application for Loans of $50,000 or Less
From my article on Entrepreneur The Small Business Administration (SBA) has released a simple one-page forgiveness application for Paycheck Protection Program (PPP) borrowers who obtained loans of $50,000 or less. The new application removes calculations required on...
Contract Hand-offs
From my article on Realtor Magazine Investors eyeing foreclosures and other residential properties to flip often connect with other investors looking for opportunities in the single-family rental market. Contract assignments are a common tool in these kinds of...
Do Good with Your IRA and Pay Zero Tax on Your Required Minimum Distributions
Required Minimum Distributions (RMD) from IRAs can be a burden for taxpayers, by raising your annual income levels and possibly boosting you into a higher tax bracket. Using the Qualified Charitable Distribution...
SEC Expands Accredited Investor Rule
From my article on Entrepreneur The Securities and Exchange Commission (SEC) has announced a modernized version of the accredited-investor rule that will goes into effect in late October and will allow those with professional credentials and licenses to qualify as...
College Savings Accounts: Coverdell Versus 529
Kids are going back to school and it's a great time to think about college and to make financial plans for your children or grandchildren's education. As you consider the different plan options, you'll want to make sure you know the two most common tax favored college...
New Legislation Would Grant Automatic Forgiveness of PPP Loans Under $150,000
From my article on Entrepreneur.com A bipartisan bill called The Paycheck Protection Small Business Forgiveness Act has been introduced into the Senate that would allow small businesses who received a Paycheck Protection Program (PPP) loan of $150,000 or less to...
The July 15 Tax-Filing Deadline Is Approaching; New Retirement-Account Rules Can Benefit You
From my article on Entrepreneur.com The rules governing your retirement accounts have been loosened in the year 2020. You have more time to put money in, can take money out early without penalty, and the required minimum distribution rules (RMD) for those 72 and...
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