Is a Tax Time Bomb Lurking in Your Paycheck?

Does your paycheck look a little higher than normal? If so, it could be a tax time bomb. The Problem A payroll tax deferral beginning September 1 was recently signed via a presidential executive order. The potential deferral of your portion of Social Security as an employee could raise your take home pay temporarily until …

Continue reading Is a Tax Time Bomb Lurking in Your Paycheck?

Don’t Rush Your PPP Loan Forgiveness Application

The Small Business Administration (SBA) has begun accepting forgiveness applications for Paycheck Protection Program (PPP) loans. While you may want to put the forgiveness application process behind you, here are four reasons to consider delaying your application submission: More changes are on the way. Congress is currently debating another COVID-19 relief package which could include more …

Continue reading Don’t Rush Your PPP Loan Forgiveness Application

How to Protect Your Social Security Number From Theft

With the dramatic increase in identity theft, what can be done to protect your Social Security number (SSN) from these would-be thieves? Here are some ideas. Do not carry your Social Security card with you. Your parents were encouraged to do this, but times have changed. You will need to provide it to a new employer, …

Continue reading How to Protect Your Social Security Number From Theft

Tax Surprises for the Newly Retired

You’ve got it all planned out. Your retirement savings accounts are full, you have started receiving Social Security benefits and your pension is ready to go. Everything is planned. What could go wrong? Here are five surprises that can turn your plan on a dime. 1. Health emergencies and long-term care. When a simple procedure could …

Continue reading Tax Surprises for the Newly Retired

SBA, Treasury to publish names of some PPP loan recipients

The U.S. Small Business Administration (SBA) and Treasury have agreed to publish the names and amount ranges for all recipients of Paycheck Protection Program (PPP) loans of $150,000 or more. In a news release issued Friday night, Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza said they had reached an agreement with the bipartisan …

Continue reading SBA, Treasury to publish names of some PPP loan recipients