Joe Biden proposed tax reform

Joe Biden’s proposed tax increases As the election get closer in November, Joe Biden has released possible reform regarding tax increases if he becomes president.  Below is an outline of what he is proposing and the changes that he would like to take effect. Tax Rates Ordinary Income – he is proposing to increase the […]

2020 Payroll Tax Deferral

2020 Payroll Tax Deferral Trump’s executive action regarding the payroll tax deferral has started this week. Here are the important things you will need to know: Payroll tax deferral is not mandatory, so it is up to each employer whether they implement it or not Time period is Sept. 1st thru Dec. 31st 2020 Tax […]

529 Plans

529 Plans done right! We get questions all the time regarding 529 Plans. Below we are going answer the most common ones: What are 529 Plans?  How do 529 Plans work?  How does a 529 Plan help with my taxes?  What can I use a 529 Plan for? Who may I setup a 529 Plan […]

Unemployment Fraud Sweeps Nevada

Unemployment Fraud Sweeps Nevada If you’re a business owner, and you receive a claim from unemployment, you better take a closer look at that notice, because it might be fraud! How do I know if it is Fraud? A lot of my clients, including myself, received a letter from DETR labeled, “Notice of Claim Filed” […]

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                […]