Avaunt Ltd

AP news is reporting that the Treasury has extended the April 15 tax filing deadline for 2019 returns for individuals to July 15, 2020. Previously, the Treasury had extended only the time to pay. This is a great relief. Avaunt believes it is still a good idea for our clients to gather your tax information and proceed with filing, if possible. https://apnews.com/2c64a8ff22ddc61ffce4bd52ffd020ef

Business Resources: Many business owners are wondering how they can be proactive during a time when they are forced to shut their doors for public safety. Here are some options we are currently discussing with our clients: 1) Bridge financing: If you have current debt obligations, go to your banks and find out what programs they are offering their customers for loan forbearance or forgiveness. Many local community banks are being proactive and putting programs in place to h...Continue reading

The U.S. Senate this afternoon approved a coronavirus relief bill passed by the House last week that provides free testing and paid leave for certain workers. President Trump is expected to sign it into law. This bill is referred to as The Families First Coronavirus Response Act. The bill provides free coronavirus testing and ensures paid emergency leave for those who are infected or caring for a family member with the illness. The bill also provides additional Medicaid fun...ding, food assistance and unemployment benefits. There are several provisions affecting employers based on what we know about the House version of the bill. There is paid job-protected leave under the Family and Medical Leave Act. This occurs after two weeks (80 hours) of paid sick leave for a full-time employee and part-time workers are paid based on the number of hours they work on average for a 2-week period. This paid leave is paid by the employer with assistance from the Federal government to a refundable tax credit that is allowed against the employer portion of the Social Security tax. As we learn more about this new law and once the President signs the bill, Avaunt will be available to answer questions as we are able and to assist you with implementing these new policies.

IRS Notice just released guidance regarding 2019 Federal income tax payment deadlines. Our understanding from this notice is that all Federal income tax payments for 2019 due on or before April 15, 2020 are extended to July 15, 2020. The notice also extends the payment deadline for the first quarter estimated tax payments for 2020 to July 15, 2020. Please note that at this time individuals are still required to file for an extension if you do not file on time for 2019. The... Treasury is still encouraging taxpayers to file on time and our team at Avaunt Ltd is ready to assist our current clients with their 2019 filing obligations. We will have to wait to see if the Treasury addresses the June 15, 2020 second quarter due date for 2020 individual income estimated tax payments. https://www.irs.gov/pub/irs-drop/n-20-17.pdf

Does anyone get the Sacramento magazine? Our client David Garibaldi graces the cover this month with his canine companions. Be sure to give it a read.

I have heard more than one of these in my 30-plus year journey in the profession!

https://vimeo.com/149469443 All the best to you this holiday season!

Our client David Garibaldi opening his brand new studio in downtown Sacramento last night. Congrats David! May your dreams come true, and your business grow and grow and grow. #ArtIsLife #WarOnWalls

If you are not saving something for retirement the new MyRA plan is beginning to roll out. This is a great starter plan for small business owners. MyRA accounts are open to anyone earning an annual salary of less than $131,000, or $193,000 if they are married and filing taxes jointly. https://myra.gov/

Financial advisers once told retirees that they could use 4% of their savings a year. But lower interest rates have affected investment returns, and life expectancy is climbing. "Retirement readiness is too complex to be codified by a simple rule of thumb," a recent PwC study found