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End of week tax fact from KV Consulting LLC

Congress has authorized a second PPP loan draw but has generally limited the applicability to small businesses with 300 employees or fewer that suffered a 25% or more reduction in gross revenue during any quarter in 2020.

Tap into your full potential. Wednesday Wisdom from KV Consulting LLC

The recent COVID-related tax relief legislation, passed late in December, extends and enhances deductions for cash charitable contributions.

Make your Monday great with this motivation from KV Consulting LLC

COVID-19 has touched nearly every aspect of the lives of every American, including our financial health. There will be some tax implications that many people have not considered. Watch the following video for some possible tax consequences so you can be prepared when tax time comes.

Wednesday Wisdom and KV Consulting LLC = Success

President-Elect Biden released his "American Rescue Plan" on January 14. It is a wish list of proposals he wants Congress to enact to address the COVID-19 pandemic and associated economic crisis.

Learn about taxes from your friends at Murrieta based KV Consulting LLC.

KV Consulting LLC - Some Monday Motivation for our friends and colleagues.

Congress has authorized a second draw for PPP loans. Watch this video for a short overview of what you can expect.

Great news for 2021 and 2022 only. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 allows businesses to deduct 100%, instead of just 50%, of business meal expenses meeting certain requirements.

Breaking: The IRS is delaying the beginning of the 2020 tax season to February 12, 2021

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Wednesday Wisdom from your friends at KV Consulting LLC

Many individuals are taking advantage of the historically low home-loan interest rates to buy their first home, sell their existing home to move up to a more expensive one, or refinance their existing mortgage. Some who currently own their homes free and clear are even taking out loans to lock in the low interest rates.

After several months of the Republicans and Democrats bickering, they have finally passed COVID-related tax relief and the President has signed the bill.

To my S-Corp clients: I am working on a calculator for your home office deduction - news to follow soon. In the meantime, here is a great article on how it works.

A little inspiration from KV Consulting LLC to start your week.

Here's your tax fact of the week from your friends at KV Consulting LLC.

A frequent question is whether inherited assets are taxable. Generally, they are not until they are sold, and then only to the extent that the sales price exceeds the fair market value of the asset at the time of the decedent's death. There are exceptions to this rule, such as traditional IRAs and other deferred untaxed income of the decedent.

Here is some midweek Wednesday Wisdom inspiration from your friends at KV Consulting LLC

An individual must have compensation in order to contribute to an IRA, unless the individual is a non-working or low-earning spouse who is allowed to contribute to his or her own IRA based upon the compensation of the working spouse.

Here's some motivation for your Monday from KV Consulting LLC

First, there was the usual April 15th deadline. Then, there was July 15th. If you filed for an extension, your deadline was October 15th - and now that date has come and gone. What happens now if you missed it?

Some insider tax knowledge from KV Consulting LLC.

Operating a SMB is hard work - and it's vital to know the financial health of your business at any time. Whether you're assembling your financial reports yourself or have hired professional help (like us), here are 12 metrics that can help you monitor your success.

To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. However, 2020 has given rise to more than the usual tax-planning opportunities. Thus, you may find it appropriate to schedule a tax-planning appointment well before the close of the year to take advantage of the tax benefits and strategies available for 2020.

Some Wednesday Wisdom from your friends at Murrieta based KV Consulting LLC

Are you an investor in stocks, bonds, mutual funds, etc.? If so, when you sell those securities, you will undoubtedly want to minimize your gains or maximize your losses for tax purposes. To do that, you'll need to know your tax basis in the investment (asset), which makes it important to keep track of the basis in all your investments.

Looking for a sign? Here's your Monday Motivation from Murrieta based KV Consulting LLC