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Will I be taxed for my forgiven PPP loan?

2020-11-28T16:52:12+00:00

  The CARES Act spells out that the forgiven loan amount won’t be included in taxable income. That means you don’t pay taxes on the money that you receive. The aim of this loan is to provide businesses with the money to keep running and continue paying employees, not to create a tax burden for businesses receiving the [...]

Will I be taxed for my forgiven PPP loan?2020-11-28T16:52:12+00:00

THE 2020 ECONOMY MANADATES EARLY TAX PLANNING

2020-11-28T16:26:22+00:00

Every financial transaction, whether you are an individual or a business owner, has the potential to affect your tax strategy. The many twists and turns of 2020 have added new complexities.  Combinations of Paycheck Protection Program (PPP) loans, Cares Act payroll tax deferral, unemployment benefits are just of few of the unfamiliar issues that are new [...]

THE 2020 ECONOMY MANADATES EARLY TAX PLANNING2020-11-28T16:26:22+00:00

Wisconsin State Fair Celebration at Tax Management & Financial Horizons

2020-08-12T13:14:41+00:00

We had a great celebration of the WISCONSIN STATE FAIR at Tax Management and Financial Horizons yesterday. We enjoyed the famous cream puffs, almost as famous brownies and chocolate chip cookies direct from the dairy pavilion. We are proud to serve our community and recognize the value of our Wisconsin businesses.

Wisconsin State Fair Celebration at Tax Management & Financial Horizons2020-08-12T13:14:41+00:00

WHAT DO YOU DO IF YOU GET A STIMULUS CHECK THAT YOU SHOULD NOT RECEIVE.

2020-05-11T20:22:36+00:00

Who Needs to Return a Stimulus Payment The IRS says that a stimulus payment made to someone who died before receiving it should be returned to the government. The entire payment should be returned, unless it was made payable to joint filers and one spouse is still alive. In that case, you only need to return [...]

WHAT DO YOU DO IF YOU GET A STIMULUS CHECK THAT YOU SHOULD NOT RECEIVE.2020-05-11T20:22:36+00:00

ARE YOU PREPARED TO REOPEN YOUR BUSINESS

2020-05-10T15:39:30+00:00

When you are ready to reopen your business, you need to be aware of the legal ramifications of your actions.  We all want to protect or employees and customers to enable our businesses to recover from the Safer at Home Period.  The following is advice that  Catherine Tansey has prepared. Here’s what you can do to [...]

ARE YOU PREPARED TO REOPEN YOUR BUSINESS2020-05-10T15:39:30+00:00

WHAT IF I GET A LETTER FROM THE IRS DURING SHUTTER IN PLACE

2020-04-08T13:16:10+00:00

WHAT IF I GET A LETTER FROM THE IRS DURING SHUTTER IN PLACE The following was posted today by the AICPA Journal of Accountancy. Question Due to office shutdowns in major cities, taxpayers and tax preparers may not timely receive or respond to IRS communications/notices that are sent by mail. Will the IRS provide any relief [...]

WHAT IF I GET A LETTER FROM THE IRS DURING SHUTTER IN PLACE2020-04-08T13:16:10+00:00

COMPANIES GET TO DEFER PAYROLL TAX PAYMENTS UNDER CORONAVIRUS RELIEF BILL

2020-03-31T13:09:25+00:00

  The $2 trillion economic stimulus package that cleared Congress on Friday will let struggling companies defer paying the IRS a portion of payroll taxes. Workers’ share, however, would still be collected and passed on to Uncle Sam. Companies still will be withholding taxes from paychecks and remitting that to the IRS, but the employers half [...]

COMPANIES GET TO DEFER PAYROLL TAX PAYMENTS UNDER CORONAVIRUS RELIEF BILL2020-03-31T13:09:25+00:00

ARE YOU WORRIED ABOUT ENCOUNTERING COVID-19 AND WORRIED ABOUT FILING YOUR INCOME TAXES?

2020-03-16T22:16:35+00:00

Has the information about COVID-19 and the recommendations to avoid public places and close contact causing you concern over filing your 2019 tax return and delaying obtaining your refund? Tax Management & Financial Horizons has a solution for you.  Tax Management offers a secure way to have your tax return prepared by a professional preparer without [...]

ARE YOU WORRIED ABOUT ENCOUNTERING COVID-19 AND WORRIED ABOUT FILING YOUR INCOME TAXES?2020-03-16T22:16:35+00:00

Volatility with your Investments

2020-03-16T16:12:30+00:00

 We are experiencing an unprecedented event in our lifetime. However, that does not mean that this event will take down the global economy. Certainly, we will find that we will likely fall into another recessionary period in the coming months.   I have lived through almost 50 years of economic cycles. My father worked in a [...]

Volatility with your Investments2020-03-16T16:12:30+00:00

Tax Savings for Small Businesses: Individual Coverage Health Reimbursement Arrangement (ICHRA)

2020-01-27T22:02:45+00:00

What are HRA accounts? Health Reimbursement Arrangements (HRAs) are a type of plan where employers reimburse employees for medical and insurance coverage expenses tax-free. There are 6 different HRAs available to cover the wide variance of business ownership, number of employees and circumstances. Each HRA has it’s unique-approved guidelines to fit the right situation. This article [...]

Tax Savings for Small Businesses: Individual Coverage Health Reimbursement Arrangement (ICHRA)2020-01-27T22:02:45+00:00
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