Beyond the Numbers

Stimulus Options For Sole Proprietors

As a self-employed person (sole proprietor) does talk of the various stimulus benefits for businesses surrounding the COVID-19 response have you feeling left out? Don’t despair! As a non-employer without payroll expenses, you qualify for two programs: Pandemic Unemployment Assistance benefits Payroll Protection Program (yes, even without payroll expenses you qualify with income from your Schedule…

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Employee Retention Credit: Another Option for Assistance

Through the excitement of companies receiving funds via the Payroll Protection Program there are also businesses that are not getting funding, or didn’t feel they were large enough to apply. There is another option – the Employee Retention Credit. The Employee Retention Credit is available for wages paid from March 12, 2020 to December 31,…

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Payroll Protection Program Loan Funding – Now What?

With the Payroll Protection Program being in the second round of funding, more businesses have received funds and are now trying to ensure their loan is forgiven. Questions such as how to keep track of the funds used, what expenses qualify and what happens if employees are not working are being asked. Here are a…

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Protect Your Video Conference Meetings

Hackers have found their new playground amid the increased use of video conferencing during the coronavirus pandemic: Zoombombing! Zoombombing defined Named for the company Zoom, the unfortunate first high-profile victim of this phenomena, zoombombing occurs when internet trolls hack video conference meetings and join as uninvited attendees. After infiltrating a meeting, the hackers then have…

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Ideas to Help Make Payments During Tough Times

You’re not alone in trying to navigate the financial uncertainty during the coronavirus pandemic. Millions of American workers who lost their paycheck because of COVID-19 need to find creative ways to pay bills. Here are 6 ways to get cash to help pay for your monthly expenses. Apply for state unemployment benefits. Recent federal legislation expands…

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Get Your Money: Ensure You Receive a Stimulus Payment

The IRS has two websites to help with stimulus payments: One for non-tax filers to register to receive their economic impact payment and a new “Get My Payment” tool. Background As a response to the COVID-19 pandemic, the government is sending $1,200 to single taxpayers with income less than $75,000 ($98,000 with phaseouts). $2,400 is…

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Key 2020 Coronavirus Tax Changes

Coronavirus uncertainty abounds. Thankfully, by monitoring tax changes on your behalf, we can work together to navigate the right path for you and your family. Here is a round-up of tax-related laws and information to help with tax planning for 2020. Early distribution penalty waived The 10% early distribution penalty on up to $100,000 of…

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Tax Deadline Changes and What it Means to You

In light of the March 20 announcement from the U.S. Treasury extending the federal tax filing date to July 15, the below message shares how it affects our clients and the Integrated Tax Services team. Deadline ChangesThe U.S. Treasury announced the federal tax filing deadline has been extended to July 15. The Oregon Department of Revenue has adopted the same,…

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A COVID-19 Update

Integrated Tax Services has modified our daily operations to comply with COVID-19 precautions.  Starting Wednesday, March 18 our office is only open to drop-off tax documents, although mail or ShareFile is preferred. All completed returns will be mailed or provided electronically. We will be sure to contact you and confirm delivery method prior to sending…

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How to Succeed as an Independent Contractor

Are you one of the now 33% of Americans who work as either an independent contractor or freelancer? If you answer yes, you are now a participant in the gig economy, a modern term for an economy characterized by workers who earn money through short-term contracts or freelance work. Succeeding as an independent contractor can…

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