TAX PRO PLUS LA

The SBA Issues a Simplified PPP Loan-Forgiveness Application

If you are the owner of a small business that obtained a Paycheck Protection Program (PPP) loan, you are most likely aware that the loan can be partially or totally forgiven if you used the loan proceeds for the required purposes. Loan forgiveness is not automatic and must be applied for. The borrower must submit a request to the lender or, if different, the lender that is servicing the loan, which then must make a decision upon the amount of forgiveness within 60 days.

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Video: Tax Consequences of Losing Your Job

Quick Tips: Tax Consequences of Losing Your Job

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Gambling and Tax Gotchas

Gambling is a recreational activity for many taxpayers, and as one might expect, the government takes a cut if you win and won’t allow you to claim a loss in excess of your winnings. In fact, there are far more tax issues related to gambling than you might expect, and they may be impacting your taxes in more ways than you might believe. So here is a rundown on the many issues, which I like to call “gotchas,” that can affect you.

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Is a Living Trust Appropriate for You?

You have probably heard others discussing living trusts but may not understand the reasons for them or whether you should have one.

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VIDEO: Unable to Keep Up with Your Home Mortgage Payments?

When you are in danger of having your home repossessed, the action you choose to make may have an impact on your taxes. Watch this video to learn more.

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