Most people would agree that 2020 was different. Whether 2020 was a disaster is a matter of opinion. To illustrate, will your worldview of 2020 be expressed as a cup half-full or half-empty? Think about the below questions and analyze your feelings about the divergences...
It is reported that the U.S. Congress may vote on a COVID-19 relief package today. The below benefits interest a lot of Americans: 1. Enhanced unemployment benefits. 2. Direct stimulus payments. 3. Renewed funding for the Payroll Protection Program. 4. Extension of the eviction moratorium and rental assistance. 5. Increase...
Governor Kay Ivey's supplemental emergency proclamation will allow citizens and businesses to avoid paying state taxes on certain benefits received under the federal CARES Act. Per Governor Kay Ivey, "the state will not be collecting taxes from individuals or businesses who received benefits from the CARES...
The United States Department of the Treasury expects taxpayers to “pay no more than the correct amount of tax.” It is plausible that the Internal Revenue Service (IRS) receive declarations such as easier said than done, I did not know I could not deduct that expense, my...
So, what’s next? This is a typical question after a series of challenges. The year of 2020 (like other years such as 1914) has been eye opening to the world. Another popular adage is “live and let live.” Various interpretations of this phrase exist. In...
The Internal Revenue Service (IRS) advocates for taxpayers to pay only the tax owed. In fact, one of the ten Taxpayer Bill of Rights involves the right to pay no more than the correct amount of tax. There are several reasons why taxpayers may overpay...
Life is full of surprises. Some of which many people find delightful (or challenging). Throughout life, situations will pop up that there are no brakes to stop. Avoiding the tendency to overreact, using qualities such as soundness of mind and balance may lessen the impact...
The CARES Act acronym has a lot of meaning by design. One of the goals of the Conronavirus Aid, Relief and Economic Security Act is to reduce the COVID-19 pandemic’s damage to the United States (U. S.) economy. A few of its key provisions are...
Yes, it is a best practice to have a well-planned, proactive business continuity strategy. Uncertainty is always constant in life just like change. To society’s advantage, we have the skills of intuitiveness, adaptability and flexibility to identify the journey through challenging times. Small businesses and...
Stay tuned to updates on the bill and final law highlighting legislation of the Coronavirus Aid, Relief and Economic Security (CARES) Act. The Senate and House of Representatives of the United States of America are expected to approve this bill early next week. Pierce, CPA &...