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Tax Talk

Tax information for * S Corp filers. * Corporate givers. * MNEs First, you the S Corp filers IRS has released the 2020 Form 1120-S Changes include the payroll tax credit. Make sure to claim it — if you qualify for the credit, of course. (A portion of it may be refundable.) / / / […]

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PPP Loans for Small Businesses

This is the second round of PPP loans for small businesses The small business community has been hit really hard this past year. And that has prompted #Congress to pass the second round of Payroll Protection Program (PPP) loans package. The “window” to apply for a second #PPP loan will close on March 31, 2021. […]

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The Year of the Great Unmasking

The year of the great unmasking 2020 The year of massive social unrest. Here and in other parts of the world. A year when #women (disproportionately) left the #workforce. Businesses closing their doors. Some forever. A year when, in spite of wearing all these masks (or maybe because of it?), we have shown each other […]

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When in hell, keep on walking

I’m speeding on the highway of life With so many things to do. And so little time Work is going well.   Before and now — work has given me many feathers in my cap. A memorable one from an IRS senior enforcement officer who said: “Mariana, if I ever get audited, I’ll hire you.” […]

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IRS — the good guy

When you hear “IRS” – what is the first thing that comes to mind? For many just a brief mention of the word is enough to get them think (and growl) about taxes. Either thinking of filing; or how much they owe. IRS the good guy IRS the “good guy” doesn’t usually comes to minds. […]

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Do my taxes start with a wine? Or two?

“Feel like I’m gonna puke ’cause my taxes are due” No, this is not one of my clients talking. This is borrowed from AJR’s hit song Bang! I listened to it when I went walking the other day (Yes, I know. Me, being so active! I surprised myself too.) Bang – fun song to listen […]

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Tax Talk: 1040 changes, new deductions, and more

2020 Form 1040: Schedules 1, 2, and 3 Currently used for 1040 and 1040-SR, the Schedules will also be used for 1040-NR. (1040-SR tax return for Seniors 1040-NR tax return for Nonresident Alien) Another notable change for 2020: $300 ‘above-the-line’ charitable deduction. (That means you can deduct the $300 even if you don’t itemize deductions.) […]

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Be ONE

One July afternoon. People walking together. All as one. A group of people with different backgrounds. People with ties to three continents. Europe. Africa. North America. All walking together. All as one. A group of people with different socioeconomic backgrounds. Some have their kids taking piano lessons. Others tennis lessons. And some work hard just […]

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Family Business — Qualified Joint Venture

Husband and wife start a small family business. And they want to keep things simple. (Since neither is fond of formalities. Or too much paperwork.) At the same time, they do want to make sure they 1. Use the right business organization type for them, and 2. They employ the right tax strategy. After some […]

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Spring Fever. And a ‘stolen’ car

“I don’t wanna go back in the house. This is MY car! And I’m gonna make it my HOME. Starting NOW!!” This is my rambunctious little Flipper “talking.” And fighting with all her might to stay in the car. I know she loves her car rides but this is getting out of control. Now she […]

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