Texas Comptroller Offers Assistance
The Texas Comptroller is offering assistance to those businesses struggling to pay the full amount of sales taxes they collected in February. For businesses that find themselves in this situation, the agency is offering assistance in the form of short-term payment agreements and, in most instances, waivers of penalties and interest. You may contact their […]
FAQ – Federal income tax 90-day tax filing and payment relief
nThe IRS has posted Frequently Asked Questions regarding the 90-day tax filing and payment relief. https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers
SBA – Economic Injury Disaster Loan Declaration
Image Credit: www.sba.gov/coronavirus We know that the current Coronavirus (COVID-19) pandemic has not only had a major impact on our personal lives but also on the economy and especially on small businesses. There is news daily of possible legislation to help those impacted by COVID-19. Some of this legislation is aimed at alleviating the economic […]
90-Day Extension Update
JUST RELEASED: THE U.S. EXTENDS INDIVIDUAL AND BUSINESS TAX FILING DEADLINE TO JULY 15TH On Monday, March 17, 2020, Treasury announced a 90-day extension of time to pay taxes owed by individuals and corporations. On Wednesday, the IRS has provided some guidance as to what was included in the extension. WHAT IS COVERED IN […]
Families First Coronavirus Response Act
President Trump signed a new law on March 18, 2020 called the Families First Coronavirus Response Act. (FFCRA). The new law will provide for emergency paid sick leave for employees and tax credits for employers. The FFCRA can be divided into two laws. The first being the Emergency Family and Medical Leave Expansion Act (EFMLEA), […]
IRS Coronavirus Tax Relief
The IRS has created a new website, https://www.irs.gov/coronavirus, they say is focused on steps to help taxpayers, businesses and others affected by the coronavirus(COVID-19). As of the time we went to press, this page only contains: References to IR 2020-54, 3/11/2020, and Notice 2020-15, 2020-14 IRB (see https://www.irs.gov/newsroom/irs-high-deductible-health-plans-can-cover-coronavirus-costs), which provide information regarding high-deductible health plans […]
ADKF + COVID-19 Update
COVID-19 UPDATE FROM ADKF Akin, Doherty, Klein & Feuge, PC takes prides in providing excellent customer service to all our clients. With the increased concern surrounding the COVID-19 (aka Coronavirus,) the government has heightened security measures to prevent the spread of the virus. We understand this pandemic is affecting everyone we know and care for […]
March 2020 Client Profile
Elijah is an employee of a technology company and also has his own company on the side. He has contributed to a 401(k) plan for each job. Now he learned he contributed too much and could owe penalties. What should he do? First, Elijah should be congratulated for his savings discipline. The earlier you put […]
Financing Your Business
Many small businesses depend on access to financing in order to grow, but their financing options will vary. Heres what you need to know if youre exploring how to finance a business need. ? GETTING STARTED Before approaching any financing source, make sure you have your house in order, financially speaking. This means clearly detailing […]
Welcome, Hannah Nelson!
ADKF welcomes Hannah Nelson to our family as a Tax Staff Administrative Intern. Hannah attends the University of the Incarnate Word, UIW, and will receive her Bachelors in Accounting in May with plans to continue with her masters degree next fall! Her final goal is to sit for and pass the CPA exam. Hannah has […]