The SBA will re-open the Paycheck Protection Program (PPP) the week of January 11, 2021, so today I’m answering the most important questions you might have about receiving a Second Draw PPP Loan for your small business. As you likely…
Ever tried to call the Experian about your credit report or managing a freeze? I’m going to guess it wasn’t a pleasant experience. While Experian staff are always helpful, there just don’t seem to be enough of them. Over the…
I know what you’re thinking: Hasn’t 2020 been bad enough without the government piling on some new tax laws we have to worry about? I totally agree with you there! While it’s true that tax law changes don’t typically benefit…
There are so many important questions to answer when running your own business. One of the most important questions S Corporation business owners answer each year is how much to pay themselves. In today’s article, I’ll fully explain reasonable compensation…
Great news! If you borrowed $50,000 or less through the Paycheck Protection Program (PPP), the application for loan forgiveness just got way easier. Today, I’ll tell you about the changes and answer some common PPP loan forgiveness questions. How has…
To many people, the IRS is a big, scary institution that makes demands, takes your money, and penalizes you for the smallest mistake. If that’s your view too, then you might be surprised to learn that the IRS is capable…
If you’re like many of my clients, part of the dread of tax time is sorting through a pile of receipts you’ve thrown in a box or drawer somewhere. The root of this problem is that many people just don’t…
New S Corporation business owners often ask me how to get money out of their business account and into their personal banking account. Basically, there are four different ways to take money out of an S Corporation. In today’s post,…
If you’re planning an out-of-state move in the near future, don’t forget to move your S corporation along with you. The process is not typically complicated, but there are some items to consider, especially in regards to your taxes. In…
If you have lost your federal employer identification number, you can contact the IRS to request a copy of the EIN confirmation letter. To request a copy of the EIN Verification Letter (147C), complete the following steps: Call the IRS…
