Advantage Accounting Group

45 days until your 2020 taxes are due. If you haven't yet made your appointment to get help preparing your return for this unprecedented tax year, now is the time. Give us a call.

The IRS can only levy or seize your property when it results in financial recovery. This is known as the "no equity rule". In other words, the IRS can only seize your property if it results in payment to them. For example, if you have a Camaro that is worth $10,000 and has a $10,000 loan on it, an IRS seizure will only get your bank paid on the loan. There will be nothing left for the IRS as there is no equity in it for them. Because of that, they legally cannot seize it. Same is true for your house. The no equity law eliminates the vast majority of IRS seizures.

We know the tax world can be downright confusing, so today we're opening up the floor for Q&A: what questions can we answer, to help clarify the mystery world of paying Uncle Sam his dues?

Program Eligibility on SBA Coronavirus Relief Options The SBA has a summary of the different funding options for which you may be eligible if you need help. This summary is a side-by-side comparison of 3 programs: PPP, shuttered venue operators grants, and EIDLs. See: https://www.sba.gov//cross-program-eligibility-sba-coronav We're here to help, including helping you decide which option is best for you.

Have you seen this list yet? This is what you'll need for your tax appointment this year. This list has been updated to reflect both stimulus bills and their respective benefits.

Changes have been made to the Paycheck Protection Program (PPP) to benefit small business owners. As the revamped PPP goes into effect TOMORROW ... take a look at the changes and details below.