The coronavirus pandemic has caused ​an extraordinary situation that is impacting not only our daily lives but our businesses and livelihoods. Here are some resources and answers to common questions I have been getting. What are the new tax return due dates? When are Q1 tax payments due? Will I get the for individuals and families? When will it arrive? What financial assistance is available for small businesses? NOTE: This information is not intended to provide complete guide

Business owners ask me all the time about setting up a retirement plan for their small business. Making sure there is a nest egg in retirement is important, as is getting a deduction from income for your business currently. Some of the key questions I get are: Can I get a tax deduction? Do I have to cover my employees? How much does it cost? How much can I put in? How do I set one up? One size doesn’t fit all, but with a little knowledge it doesn’t have to be a burden to figu

I have been asked several times recently what I think about the President’s tax reform proposal. There wasn’t a lot of meat in the one page proposal that was released (you can view it here, in all of its glory): 2017 Tax Reform Here are some of my quick thoughts…. Simplifying is good – Corporate tax rates would drop from a top rate of 35% to a single, flat rate of 15%, regardless of the amount of taxable income. Simplified, yes. Would this cause a lot of controversy? You bet