Tax Pro Plus
2999 Overland Ave.
Suite 204
Los Angeles, CA 90064
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Ph: (310) 827-4829
Fax: (310) 842-7160
info@taxproplus-la.com
- Not All PPP "Forgivable" Loans Will be Forgiving
- Business owners approved for Paycheck Protection Program loans should be wary of the strict requirements for having their “forgivable” loans actually forgiven later on.
- Checking Your Federal Refund Status Is Easy
- If you have already filed your federal tax return and are due to receive a refund, you can check the status of your refund online.
- IRS Guidance: PPP Loan Expenses Not Tax-Deductible
- Recent IRS guidance states that expenses related to forgivable loans under the Paycheck Protection Program (PPP) will not be tax-deductible.
- Are You Eligible For a 2018 Tax Refund?
- You may be one of the many taxpayers eligible for a refund from their 2018 tax return. Last December, tacked on to an Appropriations Act, Congress passed the long-awaited extenders bill. This bill had been lingering in Congress for about 2 years and extended several beneficial tax provisions that had expired after 2017. As a result, these provisions were retroactively extended to 2018 and most are continued through 2020. This opens the door to amending your 2018 return for a refund if any of the following provisions apply to you. Here are the retroactive tax benefits:
- What's Best for You - Traditional or Roth IRA?
- The tax code offers two types of IRAs; one is referred to as the traditional individual retirement account (IRA), so named because it was the first type of IRA available, having been created by Congress back in the 1970s. The second type is the Roth IRA, established in 1997 and named after William Roth, who was a senator from Delaware.
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