June 2020
PPP Flexibility Act Eases Rules For Borrowers Coping With COVID-19
As you may recall, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) back in April to help companies reeling from the economic impact of the COVID-19 pandemic. Created under a provision of [...]
Rioting Damage At Your Business? You May Be Able To Claim Casualty Loss Deductions
The recent riots around the country have resulted in many storefronts, office buildings and business properties being destroyed. In the case of stores or other businesses with inventory, some of these businesses lost products after [...]
Veterans In California Get Increased Exemptions
Veterans in California get increased exemptions. The CA State Board of Equalization (SBE) has announced increases in both the property exemption amounts and the household income limit for the disabled veterans’ exemption for 2021. For [...]
A Nonworking Spouse Can Still Have An IRA
It’s often difficult for married couples to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly [...]
Business Meal Deductions: The Current Rules Amid Proposed Changes
Restaurants and entertainment venues have been hard hit by the novel coronavirus (COVID-19) pandemic. One of the tax breaks that President Trump has proposed to help them is an increase in the amount that can [...]
May 2020
Student Loan Interest: Can You Deduct It On Your Tax Return?
The economic impact of the novel coronavirus (COVID-19) is unprecedented and many taxpayers with student loans have been hard hit. The Coronavirus Aid, Relief and Economic Security (CARES) Act contains some assistance to borrowers with [...]