If you need money due to COVID-19, you may be able to take a tax-free “coronavirus-related distribution” from a retirement plan. The IRS has released guidance explaining who qualifies for one of these distributions.
A meticulous approach to keeping business records can protect your tax deductions and help make an audit much less painful.
Have you received an Economic Impact Payment only to find out it’s less than what you were expecting? Here are some of the reasons why.
If you get a PPP loan and use the proceeds on certain expenses, the loan amount will be forgiven. Can you then deduct the expenses on your tax return? The IRS answers that question in new guidance.
The CARES Act includes favorable changes to the rules for deducting net operating losses (NOLs). Here’s how.
If you’re like most Americans, the coronavirus (COVID-19) pandemic has led to many questions. Health issues are of utmost concern but you may also have many financial questions. Here are some answers.