Flex Tax and Consulting Group (FTCG)
This article was authored working with wikiHow, the world’s largest “how to” site, and also featured here on the wikiHow website. Before you can improve your financial health, you need to analyze your current finances. Keep track of your expenses for a month and look at where you are spending the most. Use extra money to […]
How to Analyze Your Current Finances Read More »
This article was authored working with wikiHow, the world’s largest “how to” site, and also featured here on the wikiHow website. While you may have heard that nothing is certain but death and taxes, it is possible to reduce your US taxes to nearly zero, even when you’re paid a salary. Reduce your taxable income
How to Reduce Your Taxes on Salary Income Read More »
This article was authored working with wikiHow, the world’s largest “how to” site, and also featured here on the wikiHow website. Even if a nonprofit organization has achieved tax-exempt status, for example under Section 501(c)(3), the organization is likely still required to file a tax return annually. If your nonprofit has employees that are paid, or takes
How to Prepare a Tax Return for a Nonprofit Read More »
Limited liability companies (LLCs) are a popular choice of entity for small businesses and investment activities. LLC owners are called members. Single-member LLCs have one owner, although spouses who jointly own an LLC in a community property state can elect treatment as a single member LLC for federal income tax purposes. We will call LLCs
All About Limited Liability Companies (LLCs) Read More »
As you read this, it’s likely that your lawmakers are working on the next Payroll Protection Program (PPP) package. And hopefully, in this next package they will include a provision that allows you to deduct business expenses that you pay with your PPP money. Let’s explain. In the CARES Act, Congress said: For purposes of
Raise Hell: Help Lawmakers Make PPP Expenses Tax Deductible Read More »
Whether you claim a business office in the home or are simply working at home, say because of COVID-19, you likely have some former personal assets that you now use for business. Ah, new tax deductions! Yep. Say you don’t claim a home-office deduction but now you are working at home and sitting in the
Working at Home? Don’t Overlook These Deductions Read More »
How much is clarity worth? A lot, a whole lot. And how much is making things easier worth? Of course, it’s a lot, a whole lot, too. We now have both the new (a) clarity and (b) easy road to Paycheck Protection Program (PPP) loan forgiveness for the self-employed with no employees. Get ready to
Government Clarifies PPP Loan Forgiveness for the Self-Employed Read More »
