If you received a loan through the SBA Payroll Protection Program, congratulations! SBA guidance continues to come out on what will be needed to calculate the forgiveness component so this article focuses on a few tips to make the calculation easier. We’d all like to maximize forgiveness, although it is going to be difficult to
This article will be updated as more information becomes available, but we wanted to provide a simple overview of both SBA loan programs and IRS responses to the ongoing COVID-19 crisis. I am not a fan of business debt and advise everyone to be cautious when receiving loans or tax credits, as they have specific
Some topics are boring, and this may be one to read if you have trouble sleeping. It should put you to sleep real fast. When we use our personal vehicle for business, it is essential to understand a few things. This is what we’re covering: How to keep records of mileage What kind of miles
Understanding your company’s financial health is vital to succeeding in the trucking industry. Anxiety levels increase without an up-to-date profit and loss statement as you wonder how much you’ll owe in taxes. Before continuing with this software comparison, let’s agree on a few things: You don’t want to pay an accountant to input your data.
Welcome to 2020! As our team prepares to dive into 2019 tax return prep, I wanted to take a moment to share what we have learned since the Tax Cuts and Jobs Act went into effect in 2018. Since 99% of clients are in the trucking industry, this post is focused on answering the
As the year comes to a close, it’s a good time to review a few rules the IRS has in place for your W2 as an S-Corp officer (owner). The Tax Cuts and Jobs Act changed a few items, so please read this carefully. We don’t want you to miss any business deductions for 2019!
Here is a helpful video from the IRS on how to make payments on the IRS website.
As we get ready to file your 2019 taxes, we compiled a list of our most frequently asked questions and debunking some myths when it comes to tax season. Q1: Does the extension to file also extend the date my tax payment is due? A1: No. An extension allows you extra time to file. Estimated
How do I get access to my tax returns? How do I get my payment vouchers? When you log into your client portal you will have access to your tax documents. Visit: https://jonestax.clientportal.com Click on Files Select the Tax Folder Select the Year Select Client Tax Return Folder Highlight your tax return or payment vouchers
Q3 Estimated Tax Payments are due Sept. 16th Your friends at Jones Tax wanted to remind you that Quarterly Estimated Tax Payments for Q3 are due Monday, September 16th. If you plan to make timely payment and wanted a little guidance, keep reading! How to make your IRS payment? We recommend paying online,