The CARES Act amendments to section 163(j) will allow many taxpayers increased interest deductions in tax years beginning in 2019 and 2020. Section 163(j) in general Section 163(j) limits business interest expense...
SBA Disaster Loans and Paycheck Protection Program (PPP) Loans Explained Haynie & Company and NOW CFO teamed up to educate and discuss with business owners and leaders how to apply for...
The IRS will start sending Economic Impact Payments to most Americans in April. Check your eligibility, payment status and confirm your payment type. A Few Words of Caution: Scammers will doubtlessly...
Notice 2020-23 (which updates Notice 2020-18, “Additional Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic”), released on April 9, 2020, provides Taxpayers who are currently engaged in a...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, 2020, contains important updates on the use of health savings accounts (HSAs), flexible spending accounts (FSAs)...
The COVID-19 outbreak is affecting every facet of our lives – including our taxes. Check here for all your tax related FAQ to see how you may be impacted. Q1: Since...
The December 2017 tax act (TCJA) eliminated NOL Carrybacks, and limited NOL Carryforwards to 80% of taxable income. The 2020 CARES Act temporarily eliminated these provisions and increased the previous...
The last four months have been a tumultuous time for retirement plan distribution rules and in particular Required Minimum Distribution (RMD) rules. SECURE ACT CHANGES In late December 2019, long before Coronavirus...