Yesterday, the Small Business Administration provided a simpler forgiveness application for PPP loans of $50,000 or less. The key simplification? A … [Read more...] about Forgiveness for PPP Loans $50,000 or Less: The New 3508S Form
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Killer Small Business Tax Breaks
We've been talking tons about Covid 19 stuff over the last few weeks. Like the paycheck protection program. And employee retention credits. But a … [Read more...] about Killer Small Business Tax Breaks
PPP Loan Accounting: Tips to Do It Right
Hopefully, in the next few days, you receive a paycheck protection program loan, or PPP loan. Good job for getting that done. Seriously. Your … [Read more...] about PPP Loan Accounting: Tips to Do It Right
Paycheck Protection Loan Formula Explained and Illustrated
People are confused about how the paycheck protection loan formula works. And no wonder. Simple on the surface, the formula gets complicated once … [Read more...] about Paycheck Protection Loan Formula Explained and Illustrated
Delay Social Security Benefits to Bump Safe Spending Rate
You maybe know this already. But if your retirement plan combines income from IRAs and 401(k) accounts with Social Security benefits, you can probably … [Read more...] about Delay Social Security Benefits to Bump Safe Spending Rate
How to Inherit a Million Dollars
Over the last year, I helped several families administer a large-ish estate and disburse decent-sized inheritances. Which was fun and interesting … [Read more...] about How to Inherit a Million Dollars
Ignoring IRS 8995 Instructions to Double-deduct Self-employed Health Insurance
If you’re reading this, you already know, right? In many situations, the 199A regulations require adjustments to the qualified business income number … [Read more...] about Ignoring IRS 8995 Instructions to Double-deduct Self-employed Health Insurance
How the IRS Destroyed the Section 199A Deduction for Small Business S Corporations and Partnerships
I’ve got some bad news, unfortunately. The IRS may have destroyed or dramatically reduced your Section 199A deduction. At least if you’re a typical … [Read more...] about How the IRS Destroyed the Section 199A Deduction for Small Business S Corporations and Partnerships
The Hidden Magic of Arithmetic Growth
Many investors know about geometric growth, which is what compound interest is. Investors, for example, know that if you earn an annual 5 percent … [Read more...] about The Hidden Magic of Arithmetic Growth
Are Houses Investments?
I got into a friendly argument with another financial writer recently. I said houses count as investments. He said houses didn’t count. We chatted … [Read more...] about Are Houses Investments?