Wheeler Accountants

Unfortunately, some scammers are taking advantage of the pandemic by filing fraudulent claims for unemployment compensation using stolen personal information. Read for more background and tips to avoid this nightmare! http://ow.ly/UugT30rCN46

With taxes becoming more complicated every year, there is an even greater possibility of tax confusion turning into a tax mistake and an IRS audit. Avoiding "red flags" like these could help. http://ow.ly/WcOv30rCN45

Special tax rules may apply to some children who received investment income in 2020 or expect to receive it in 2021. Here are five important points to keep in mind if your child has investment income: http://ow.ly/uPPj30rCN44

For more information on our services, up-to-date news on PPP Loan applications, PPP Loan Forgiveness, and Employee Retention Tax Credit (ERTC), please visit our resources page: http://ow.ly/nRlh30rCN43

On March 25th, the U. S. Senate passed a bill to extend the Paycheck Protection Program application deadline from March 31st to May 31st, helping small businesses and nonprofits complete the application process. http://ow.ly/Zyzc30rCN42

This quarter we were thrilled to name Katie Vachon as our employee of the quarter. Katie, we love having you on the team are grateful for everything you contribute! http://ow.ly/loZ050CTyk6

Let's keep talking about how to be confident you've covered your bases as we wrap up this year. Today we'll look at tax planning strategies you can use to minimize your tax burden for 2020. https://wheelercpa.com/year-end-tax-planning-strategies/

The year might rapidly be coming to a close, but there is still time to take a look at your finances and make some changes. In this episode of Avocado Toast, Eric and Matt cover some practical tips on how to do a fall financial checkup. https://avocadotoastpodcast.com/fall-finance-checkup/

Congress is making some progress on a new COVID Relief Bill. If it advances, it would represent the first significant stimulus action since the CARES Act was passed in March of 2020. We don’t want to predict anything, as things are subject to change, however based on the progress we are seeing, we believe our clients should understand the provisions being proposed. Here is a link to the proposed Summary Framework of the Bipartisan Emergency COVID Relief Act of 2020 shared on December 9. Continue reading for some of the key items being proposed in the new bill: https://wheelercpa.com/bipartisan-covid-expand-ppp/

Over the past decade, Americans have been the most generous people in the world. This year, despite economic devastation caused by the Coronavirus pandemic, charitable giving had actually increased as of June by 7.5% year over year, according to the Q2 report released by the Fundraising Effectiveness Project. What’s more, the number of general donor small gifts under $250 is up 19.2% year-to-date! These statistics contrast sharply with the narrative of ever-increasing divisiveness and animosity repeated in the months leading up to the November election. One thing is clearin times of need, Americans help each other. If you participated in charitable giving this year, or plan to, we want to provide you with tools and techniques to maximize the tax benefits of your gifts. Continue reading: https://wheelercpa.com/tis-the-season/