The SBA is out of Money – Now What?

The SBA is out of Money – Now What?

The SBA is out of money…again.The SBA made a surprise announcement this week that they ran out of money for PPP2.Well, ran out isn’t quite accurate.They still have $14B in funding left.But $6B is earmarked for hold codes.These are basically applications with errors...

Car Guy

I’m a shop guy. I’ve spent my entire life in the automotive industry. Some of my earliest memories are running around my dad’s shop in diapers. I grew up in that auto body shop, working there on summer and winter breaks during high school. My first job was washing...

Lower Capital Gains Tax

Three Ways to Reduce or Defer Capital Gains Taxes Capital gains are a real pain in the taxes! While capital gains are taxed differently than income, the rate at which they’re taxed ranges from 0% all the way up to 37%, depending on your personal tax situation.  ...

Employee Tax Deferral

Considering Deferring Your Share of Your Employees’ Social Security Tax? Social security taxes are among the biggest tax burdens faced by employers and employees alike, with both of you paying the IRS 6.2%, for a total tax rate of 12.4%. Since March 27th, under...

Capital Gains Taxed as Income

When Are Capital Gains Taxed as Income? This probably won’t come as a surprise, but just like the government wants a portion of your income, they also want a cut whenever you profit from an investment. Once you sell any capital asset (such as stocks/bonds, jewelry, or...
ERTC Tax Strategy Feb 2021

ERTC Tax Strategy Feb 2021

WHAT IS THE ERTC? A tax credit of $5,000 to $7,000 per employee. ERTC stands for Employee Retention Tax Credit. It’s a tax credit that is part of the CARES act, and was extended as part of the year end Coronavirus Omnibus Spending Act. Check out my free Employee...