Tag Archives: covid-19

Batley CPA Tax & Business Alert November 2020

Posted on Nov 12, 2020 by

Achieving a Better Life Experience (ABLE) accounts are tax-free accounts that can be used for expenses of disabled individuals. They can be created by a disabled person or his or her family members or guardians. This article explains eligibility factors and other pertinent details. A sidebar notes an ABLE account’s impact on Supplemental Security Income.

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Simplified PPP Loan Forgiveness

Posted on Oct 13, 2020 by

The U.S. Small Business Administration, in consultation with the Treasury Department, today released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.

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Batley CPA Tax & Business Alert September 2020

Posted on Sep 15, 2020 by

Although the Tax Cuts and Jobs Act took much of the “teeth” out of the AMT by raising the inflation-adjusted exemption, high-income earners (and even some middle-income earners) should still watch out for its bite. This article discusses the basic rules and the role of itemized deductions. A sidebar warns investors that capital gains can trigger the AMT.

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I.5, Processing Pending Payments During COVID-19

Posted on Sep 1, 2020 by

The IRS has warned taxpayers that if they mailed checks (either with or without tax returns), the checks may still be unopened in the backlog of mail the Service is processing due to COVID-19. Any payments will be posted as the date the IRS receives them rather than the date the Service processed them.

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Batley CPA Tax & Business Alert August 2020

Posted on Aug 13, 2020 by

Because of the economic downturn triggered by the COVID-19 crisis, many people have found themselves in need of cash to pay unexpected medical bills, mortgage payments and other expenses. One option is to borrow against the cash value of a permanent life insurance policy. This article explores the risks and benefits of such a strategy, while a sidebar looks at a myth that represents a life insurance loan as a tool that “pays for itself.”

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Batley CPA LLC COVID-19 Response

Posted on Mar 23, 2020 by

We want to take the time to thank you for your continued business with us. We also want to update you on our response as we weather this microbial storm. Please know that we are, as always, committed to providing timely and accurate tax and financial reporting.

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