Paying your taxes

Paying your taxes If you’re a business owner, individual, or self-employed individual, people always ask me, “How do I pay my taxes?” Below I’m going to outline the different ways you may pay your taxes whether you are an individual that owes the IRS at the end of the year, or if you need to send […]

How does oil go negative?

How do we get a negative cost for a barrel of oil? I had a few people ask me yesterday, how can anybody sell a barrel of oil for a negative cost (i.e. below zero)?  So what happened? On April 20th, the May 2020 futures contracts were about to expire (i.e. the last day to […]

CAREs Act

The CAREs Act The Coronavirus Aid, Relief, and Economic Security Act (CAREs Act) was signed into law on March 27th. There were a lot of different things that were included in the bill, below we will go over the most important. Stimulus Payments By now you’ve probably heard of the Stimulus payment that you may receive […]

Stimulus Resources

Various Stimulus Resources Below are a list of resources you may need IRS Q: What if I didn’t file a return, how does the IRS find me for my stimulus payment? A: IRS has a website set up for non-filers to give them your information.  Here is the link:  https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here Q: Where do I go […]

2020 Estimated Tax Payments Extended

2020 Tax Payments Extended! Due to COVID-19 the IRS and Department of Treasury have updated the dates in which estimated tax payments are due for individuals, businesses, and the self-employed. Old Dates             New Dates Q1 4/15/2020        Q1 7/15/2020 Q2 6/15/2020        Q2 7/15/2020 Q3 […]

DMV Taxes Deduction Lookup

DMV Tax Deduction Lookup In case you didn’t know, you are allowed to deduct the excise taxes you pay for your vehicle registrations.  Below are links  to your state’s DMV so you can look up the taxes you may deduct.  Arizona                California                […]

Paycheck Protection Program

How Small Businesses Can Apply for Money You Don’t Have to Pay Back Ever with the Paycheck Protection Program Last week, the President signed the CARES act (The Coronavirus Aid, Relief, and Economic Security Act).  Part of the CARES act includes the “Paycheck Protection Program” (PPP) for small businesses.  The PPP is a different program […]

Coronavirus: SBA Loan Assistance Program

SBA Economic Injury Disaster Loans If you own a small business and have been affected by the Coronavirus (COVID-19). I’m sure you’ve heard of the various stimulus bills the President and Congress have approved. Part of the stimulus includes the SBA Economic Injury Disaster Loan (EIDL). SBA’s EIDLs are loans offered for disaster areas.  SBA offers […]

Should I Open a Corporation or an LLC?

A corporation and an LLC are two very different entities. Both entities come with their own advantages and disadvantages; many of which relate to ownership structure, tax implications and how the business is formed. Both LLCs and corporations also have similarities, too. For example, both business structures offer personal liability protection, meaning owners/shareholders are protected […]

Benefits of Opening an HSA

Introduction A health-savings account, or HSA, is one of the most underutilized saving accounts. As monthly premiums are significantly less than other health plans, an HSA is a powerful means by which to limit healthcare costs and their associated tax burden, whilst saving for future medical expenses. One of the common misconceptions about opening an […]