LyfeAccounting

JANUARY 20, 2021

aka PPP loan 2021. PPP Loan 2021 Most Commonly Asked Questions (And Our Answers!). If you did not receive round 1 of PPP loans or returned your loan, you are eligible to receive PPP for the first time if you meet the following conditions: Your businesses was in operation on February 15, 2020 and is currently operational.

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LyfeAccounting

FEBRUARY 19, 2021

So in this post, we’re going to break down some of those advantages and disadvantages of a single member LLC in 2021. We will also be discussing a typical operating agreement, how taxes work, and compare it against sole proprietorship. This is attached to your personal federal tax return that you file with the IRS.

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LyfeAccounting

APRIL 23, 2021

So we’re not going to use a bunch of tax jargon you will read on other blogs. Instead, we are going to do our best to make this a very simple guide so that you can follow and implement this yourself on your next tax return. Actual Expense Vehicle Tax Deduction. Let’s go ahead and dive right in.

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LyfeAccounting

JUNE 29, 2021

You are worried about owing money next year when you file your 2021 taxes. And this could be a legitimate reason because you’re getting an advance on your child tax credits. So technically, you will have less tax credits to offset any tax liability that you have when you file your tax return.

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Going Concern

SEPTEMBER 22, 2023

Tax ERC abuse brings renewed push for regulation of paid tax preparers [ Journal of Accountancy ] buse of the employee retention credit (ERC) by aggressive promoters who make questionable promises has pushed Treasury to renew the call for the regulation of paid tax return preparers, an action that has the AICPA’s support.

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LyfeAccounting

MARCH 19, 2021

Well in this post, we want to help eliminate all of the questions and confusion around: Where your tax refund is? Why are you may or may not be getting a tax refund in 2021? So if you haven’t received your tax refund in 2021 yet then we have about 5 steps that you can take to find out what’s going on.

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LyfeAccounting

MAY 3, 2021

But in this post, we want to explain the differences between tax credits vs tax deductions so you can spend your time wisely! Now as tax preparers for many years, finding tax credits and tax deductions for our clients is one of the most satisfying parts of preparing a tax return.

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