Self-Employed Taxpayers – DougFreemanCPA.com

Need another PPP loan for your small business? Here are the new rules

(CAA) Consolidated Appropriations Act of 2021, Business Income Tax, Business Loans, Paycheck Protection Program / Douglas Freeman

Congress recently passed, and President Trump signed, a new law providing additional relief for businesses and individuals during the COVID-19 pandemic. One item of interest for small business owners in the Consolidated Appropriations Act (CAA) is the opportunity to take out a second loan under the Paycheck Protection Program (PPP). The basics. The CAA permits […]

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Tax implications of working from home and collecting unemployment

COVID-19, Home Office Deduction, Tax Planning, Tax Withholding's, Telecommunting, Unemployment / Douglas Freeman

COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations. 1. Working from home. Many employees have been told not to come into their workplaces due to the pandemic. If you’re an employee who “telecommutes” — that is, you work at

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Individuals get coronavirus (COVID-19) tax and other relief

COVID-19, Federal Income Tax, Tax Deadlines, Tax Refund, US Department of Health and ServicesHuman / Douglas Freeman

Taxpayers now have more time to file their tax returns and pay any tax owed because of the coronavirus (COVID-19) pandemic. The Treasury Department and IRS announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer making federal income tax payments,

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Coronavirus (COVID-19): Tax relief for small businesses

2019 Tax Return, COVID-19, Employees, Federal Income Tax, Internal Revenue Service (IRS), Small Business, Tax Deadlines, Tax Refund / Douglas Freeman

Businesses across the country are being affected by the coronavirus (COVID-19). Fortunately, Congress recently passed a law that provides at least some relief. In a separate development, the IRS has issued guidance allowing taxpayers to defer any amount of federal income tax payments due on April 15, 2020, until July 15, 2020, without penalties or

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