LNK Tax Group

The United States Small Business Administration (SBA), in connection with the Treasury Department, announced that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. #LoanForgiveness #PPP #PPPLoanForgiveness

You do not need an LLC to start a business, but for many businesses the benefits of an LLC far outweigh the cost and hassle of setting an LLC up. An LLC, or limited liability company, provides personal liability protection and a formal business structure. You can also get those things by forming a corporation or other type of business entity. #acccounting #Accountant #accounting #bookkeeper #bookkeeping #LLC #santaclaritataxaccountant #santaclaritabookkeeping #StrategicTaxPlanning

Paying income taxes is the obligation of all Americans. While we are happy to pay our fair share, no one wants to pay too much income tax. That is where tax deductions and credits come into play. U.S. Congress has written the tax code; all 4 million words of it; to allow individuals and businesses to claim certain deductions and credits to lower their tax burden. #Accountant #accounting #bookkeeper #bookkeeping #MaximizingDeductions #santaclaritataxaccountant #santaclaritabookkeeping #taxableincome

The Internal Revenue Service (IRS) has announced several changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. The IRS reviewed its collection activities to determine how it could apply relief to taxpayers who owe but are struggling financially because of the COVID-19 pandemic.

Effective Management of Business Finances Most small business owners and entrepreneurs juggle every aspect of business management, from administrative tasks to bookkeeping and accounting duties. Many small business owners and entrepreneurs reach a point where managing every task becomes overwhelming and an ineffective use of time. #Accountant #accounting #bookkeeper #bookkeeping #finance #MaximizingDeductions #santaclaritataxaccountant #santaclaritabookkeeping #StrategicTaxPlanning #taxrefund #taxes

A very common question that comes up, particularly with new small businesses, is whether you should separate your business bank account from your personal bank account. The general rule of thumb is that you should not comingle your bank accounts and here is why. It prevents you from using the business funds for a personal expense. #banking #finance #personalfinance

Borrowers who received Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act are asking their tax professionals if and how they will qualify for PPP loan forgiveness. There is uncertainty over some of the program details. Organizations. especially small to medium sized businesses, worry about meeting the loan forgiveness requirements. #LoanForgiveness #PPPLoanForgiveness

Check us out on Nextdoor!

A taxpayer can overcome the presumption that all rental activities are passive if the taxpayer qualifies as a real estate professional by satisfying the two tests of Sec. #DeductingPassiveLosses #losses #santaclaritataxaccountant #taxes

Unless you have more than $5M in annual revenues (more likely, less than $10M) it will be more cost effective to outsource your bookkeeping and accounting needs. Outsourcing is more flexible, which will allow you to scale your services up or down as your business needs change and you do not have to pay a salary plus expensive benefits. #Accountant #accounting #bookkeeper #bookkeeping #outsource #santaclaritabookkeeping