SBA Application Process Has Been Defined
As promised the SBA has released the final calculation and application for the Paycheck Protection Plan (PPP) 7(a) Loan. This morning banks are doing their best to be ready for processing, but… Continue On +
The New SBA Loan is Almost Ready
Fluence spent three hours last night on a phone conference with 79 CPAs that are part of the Academy of Dental CPAs. In our opinion this group is the best of the… Continue On +
Update on Paid Leave, New SBA Loan, and Unemployment
With each act of Congress that provides help during this challenging time comes a wave of questions. How does a specific act apply to your practice? What are the next steps to… Continue On +
Tax Filing and Payment Due Date Updates
As you are aware from previous communications the Internal Revenue Service has extended both the filing deadline and payment deadline for 2019 to July 15, 2020. They also chose to extend the… Continue On +
You Have Until July 15th to Make Tax Payments, Tax Returns Still Due April 15th
Yesterday the IRS released Notice 2020-17 providing relief from tax payment deadlines due to the COVID-19 emergency. Please note this relief is for tax payments only. This notice does not provide an… Continue On +
State Audit
The State of Oregon is stepping up their income analysis audit techniques. Recently we have seen state agencies, including the State of Oregon, increase their use and scope of the “Bank Deposits”… Continue On +
Tax Issues Related to Divorce
Divorce is a traumatic event in anyone’s life, and the tax aspects are frequently overlooked, which can add to the distress. The following is an overview of many of the commonly encountered… Continue On +
Gift Tax Treatment of Tuition Plans
Qualified tuition plans (QTPs) provide a means for family members and others to save for the future educational needs of children. Investment earnings within a QTP account are tax deferred and not… Continue On +
Electric Vehicle Credit on the Decline
Back in 2009 Congress created a tax credit for the purchase of electric vehicles as a stimulus for car companies to manufacture “green” vehicles and as an incentive for consumers to purchase… Continue On +
Increased Business-Vehicle Deductions Due to Tax Reform
The Tax Cuts and Jobs Act of 2018 and other tax reforms have brought about significant changes in the way that vehicle use is deducted for business purposes. Before getting into these… Continue On +
IRS Giving a Break to Some Taxpayers Who Under-Prepaid Their 2018 Taxes
Taxpayers are required to pre-pay their taxes for any tax year through payroll withholding, estimated tax payments or a combination of the two. Employees and retirees generally accomplish this through withholding, and… Continue On +
Big Tax Changes for Divorce Decrees after 2018
Welcome to 2019 and a delayed provision of the tax reform, also known as the Tax Cuts and Jobs Act (TCJA). For divorce agreements entered into after December 31, 2018, or pre-existing… Continue On +