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Jim_B
Employee
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  • The Paycheck Protection Program (PPP) is a loan that the lender makes to the employer. The loan has a maturity of 2 years@1% interest. If the employer does not ...
    Jim_B
    Apr 09, 2020
  • The CARES individual stimulus payment is an advance rebate that reduces the credit allowed for 2020. Taxpayers will receive any shortage due when they file 2020...
    Jim_B
    Apr 09, 2020
  • You should ask the taxpayer to give you a breakdown of the sale price allocated to the assets, based on the FMV of the assets. Refrigerators generally depreciat...
    Jim_B
    1
    Apr 13, 2020
  • There are still many questions to be answered about PPP's. One of the questions sent to SBA is whether guaranteed payments to partners will qualify as payroll c...
    Jim_B
    Apr 09, 2020
  • You'll need to complete the cancelled debt worksheets, and if the timeshare was foreclosed upon, you will enter the value of the property. IRS Pub 4681 provides...
    Jim_B
    Apr 09, 2020
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