Golden Tax Relief Blog
11 FOLLOWERS
Golden Tax Relief resolves individuals and businesses with wage garnishments, delinquent tax returns, bankruptcy, and more. Read from our blog here. We help protect individuals and companies that have IRS and State tax problems.
Golden Tax Relief Blog
2y ago
It’s hard to imagine that a small business does not qualify for some or all of the employee retention credit (ERC). And remember, this is a tax credit—one of the very best things that tax law has to offer. True, it’s not as valuable as...
The post Don’t Miss Out on the Employee Retention Credit appeared first on Golden Tax Relief ..read more
Golden Tax Relief Blog
2y ago
Three bad things happen when you file your tax return late. What’s Late? You can extend your tax return and file during the period of extension; that’s not a late-filed return. The late-filed return is filed after the last extension expired. That’s what causes the...
The post Don’t Make a Big Mistake by Filing Your Tax Return Late appeared first on Golden Tax Relief ..read more
Golden Tax Relief Blog
2y ago
We seem to be living in an age of natural disasters. Floods, fires, hurricanes, tornados, and other disasters often dominate the news. If a disaster strikes you, the tax law may help. When defined as such by the tax code, a disaster loss may qualify...
The post Deducting Disaster Losses for Individuals appeared first on Golden Tax Relief ..read more
Golden Tax Relief Blog
2y ago
Disasters such as storms, fires, floods, and hurricanes damage or destroy property. If property such as an office building, rental property, a business vehicle, or business furniture is damaged or destroyed in a disaster, your business may qualify for a casualty loss deduction. It’s easier...
The post Deducting Disaster Losses for Businesses appeared first on Golden Tax Relief ..read more
Golden Tax Relief Blog
2y ago
When you know the rules, you can party with your employees and deduct 100 percent of the cost. The IRS says that the following types of entertainment qualify for the 100 percent employee entertainment tax deduction: Holiday parties, annual picnics, and summer outings Maintaining a...
The post Deduct 100 Percent of Your Employee Recreation and Parties appeared first on Golden Tax Relief ..read more
Golden Tax Relief Blog
2y ago
Deduct 100 Percent of Your Business Meals under New RulesSince 1986, lawmakers have limited business meal deductions: first to 80 percent, and then to 50 percent (unless an exception applies). But on December 27, 2020, in an effort tohelp the restaurant industry due to the...
The post Deduct 100 Percent of Your Business Meals under New Rules appeared first on Golden Tax Relief ..read more
Golden Tax Relief Blog
2y ago
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) made many temporary changes in the tax law. The new Consolidated Appropriations Act (CAA) adjusted some of these and left others to die on December 31, 2020. Below are insights into some of the changes....
The post COVID-19 Tax Relief Measures appeared first on Golden Tax Relief ..read more
Golden Tax Relief Blog
2y ago
The PayPal loophole is going away in a little over six months from now. You used to be able to avoid giving 1099s to contractors and vendors when you use PayPal or a similar service as your payment platform. This pushed the reporting requirements to...
The post Congress Closes the PayPal 1099-K Reporting Loophole appeared first on Golden Tax Relief ..read more
Golden Tax Relief Blog
2y ago
When you operate a business, you have a variety of tax breaks available. The recently enacted CAA extends and expands some of the breaks. We bring the following selection of them to your attention as a tax-strategy buffet. You can deduct 100 percent of your...
The post Business Tax Breaks Thanks to the Recently Enacted CAA appeared first on Golden Tax Relief ..read more
Golden Tax Relief Blog
2y ago
The Work Opportunity Tax Credit rewards your good deeds. And now, because of new legislation, the rules are in place for longer than usual. If you need to hire workers in your business, this dollar-for-dollar reducer of your taxes is one to know about. Suppose...
The post Benefit Big from the Work Opportunity Tax Credit appeared first on Golden Tax Relief ..read more