PPP Loan Expenses are Not Tax-Deductible

On April 30th, the IRS released guidance announcing that Loan expenses that are related to Paycheck Protection Program (PPP) forgivable loans will not be tax-deductible. The PPP was originally created as part of the CARES Act,a $2.2 trillion coronavirus relief bill. The program provides low-interest… Read More

Tax Break available for Adoptive Parents

Tax Break – Highlights:  Qualifying Adoptions Credit Amount Credit Carryover Qualifying Expenses High-Income Credit Phase-out Employer Adoption Assistance Program Failed Adoptions Foreign Adoptions     If you are an adoptive parent or are planning to adopt a child, you may qualify for a substantial income tax… Read More

Make 2020 Your Year to Save Big

To stay afloat during tough times, financial experts recommend that you keep three to six months’ expenses in a savings account. But, if you are in the majority, you likely only have less than $1,000 in your savings account at any given time. Thankfully, 2020… Read More