Year-End Tax Planning for 2020 (INDIVIDUALS)

Be Prepared. Year-End Tax Planning 2020 Tips

Due to the coronavirus pandemic (COVID-19) and the enactment of legislation to offset the economic burden wrought by COVID-19, as well as a legislation passed at the end of 2019, there is a lot to consider when reviewing year-end tax planning options that may be available to reduce your 2020 tax liability. In December of […]

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Year-End Tax Planning for 2020 (Business)

End-of Year Tax Planning For Your Business

Tax legislation enacted at the end of 2019, as well as new tax laws enacted in 2020 in response to the coronavirus pandemic (COVID-19), will most assuredly affect your business’s 2020 income tax return. The plethora of legislation contains many new provisions which are likely to minimize your business’s 2020 tax liability. As a result, […]

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Tax-Saving Tips

Tax Saving Tips, New Deadline, Loan Forgiveness, and Tax Breaks on Relief Payments

New Forgiveness Rules for Past, Current, and New PPP Money Good news: the new Paycheck Protection Program (PPP) law enacted with the stimulus package adds dollars to your pocket if you have or had PPPmoney. Note that the PPP money comes to you in what appears to be a loan. We say “appears” because you […]

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COUNTDOWN TO TAX SEASON

It's almost Tax Season!

We at Abbott hope you and yours are safe and healthy as the memorable 2020 year comes to an end. But we all know what fun awaits after New Year’s Day – TAX SEASON! To give you a head start, here are a few tips: How’s your bookkeeping? Whether you have your own business, farm, […]

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