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7 THINGS TO KNOW ABOUT YOUR SBA ECONOMIC INJURY DISASTER LOAN (EIDL)

7 THINGS TO KNOW ABOUT YOUR SBA ECONOMIC INJURY DISASTER LOAN (EIDL)

Small Business Administration (SBA) Economic Injury Disaster Loans (EIDLs) can be a great source of low-interest funding for businesses struggling with the economic impact of the COVID-19 pandemic. Unlike Payroll Protection Program (PPP) loans, EIDLs are not forgivable—borrowers have to pay them back. But they have a low 3.75 percent interest rate and a long …

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7 THINGS TO KNOW ABOUT YOUR SBA ECONOMIC INJURY DISASTER LOAN (EIDL)

When it comes to tax advice, be careful whom you trust…

There is some remarkably bad and wrong and hazardous-to-your-health information out there that—despite being repeatedly debunked—just will not go away. Some of those ideas are clearly erroneous, but others can snag even very bright people.   Consider the case of Carter White Rae, a dentist in Michigan. He followed some bad advice and ended up …

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starting a business

Starting a Business

Start-up Expenses Many people don’t think about start-up expenses as potentially deductible. Others think they are deductible just like day to day business operating expenses. Start-up expenses can be thought of as “thinking about getting into business expenses” and your “getting your business started expenses.” A key concept is that you must be ‘open for …

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starting a business

Tax Audits on the Rise!

Tax Audits On The Rise This is a long post but it is a very important topic, so please read the whole thing. And do feel free to pass it along to anyone you think may be interested. Do you know how many tax return audits are based on “random selection”? The answer is about …

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