The Tax Bar Atlanta

When should I start working with a CPA? Many business owners think their business needs to be at some magical number before they’re worthy of meeting with a CPA. If that is you, PLEASE change that mindset right now as it could be costing you thousands of dollars!... You should start working with a CPA before you start your business. There is so much that can be done upfront, in terms of entity setup, accounting systems, and more that will help your business start off on the right foot. Don’t wait until you’re five years in and suddenly haven’t filed your returns that entire time or have thrown away thousands from not tax planning. You’re never too small to meet with a CPA. If you’re years into operating your business and still have never gotten the financial side of it in order, it’s never too late.

65 MILLION AMERICANS Yes, that's right. 65 million Americans won't receive the stimulus cash payment. Why? In some cases, taxpayers' income will be too high. In most other cases, taxpayers won't get the cash payment because they haven't filed either their 2018 or 2019 taxes. And that’s just being honest! FILE YOUR TAXES ASAP! File your taxes in 4 easy steps through our virtual tax experience. #TaxBarAtlanta #Stimulus2020 #StimulusChecks #SEED

The stimulus package has made $377 BILLION available to small businesses for relief during COVID-19. See the details below of some of the main points! 1. EMERGENCY GRANTS The bill provides $10 billion for grants of up to $10,000 to provide emergency funds for small business to cover immediate operating costs. ... 2. Forgivable Loans $350 billion has been allocated for the Small Business Administration to provide loans up to $10 million per business. Depending on how the loan is used, it could potentially be forgiven. 3. PAYROLL TAX CREDIT The bill calls for tax credits related to payroll is you maintain your staff during this time period. 4. RELIEF FOR EXISTING LOANS There is $17 billion to cover six months of payments for small businesses already using SBA loans. We are consulting with businesses everywhere to help them get relief. Tag a business owner who would benefit from the relief package! #TaxBarAtlanta #TaxBarATL #SEED #StimulusPackage #Relief #COVIDRelieft @ The Tax Bar Atlanta See more

The Coronavirus response bill has been signed by President Trump. Here are some of the key elements included in the bill that specifically provide relief to individuals across the nation: 1. DIRECT CASH PAYMENTS Most individuals earning less than $75k can expect a one-time cash payment of $1,200. Married couples would each receive a check and an additional $500 per child. Checks will start to phase out for individuals who have earned more than $75k and totally disap...pear for those making more than $99k. As an example, a family of four earning less than $150k can expect a direct cash payment of $3,400. 2. MAJOR RELIEF FOR GIG WORKERS/FREELANCERS This bill has created a new, temporary Pandemic Unemployment Assistance program through the end of the year - allowing those who don't traditionally qualify for benefits to receive assistance (MORE INFO TO COME) 3. STUDENT LOAN SUSPENSION According to sneak peeks at the bill, student loan payments will be suspended without penalty through September 30! The Department of Education had previously allowed student loan borrowers to suspend payments without penalty and interest for at least 60 days. 4. PROTECTIONS AGAINST FORECLOSURES & EVICTIONS Anyone facing a financial hardship as a result of COVID-19 shall be given forbearance on a federally backed mortgage loan up to 60 days - this can also be extended for four period of 30 days each. Servicers of federally backed mortgage loans may not begin the foreclosure process for 60 days from March 18. Again, this bill was just passed into law - so more information is still becoming readily available. Continue to tune in for updates and new information daily! #TaxBarAtlanta #TaxBarATL #SEED #Stimulus2020 #StimulusBill #CARESAct #CarePackage @ The Tax Bar Atlanta See more

This $2 TRILLION stimulus relief package just passed What does that mean for youDO YOUR TAXES - make sure 2018 is done and if you want to be safe DO 2019 ASAPWe have a quick and easy CORONA FREE VIRTUAL TAX PROCESS! Go to our website and we can make sure you’re ready for your stimulus check today @ The Tax Bar Atlanta

Check out the major points of the stimulus bill. What y’all think about it??? #stimuluspackage #StimulusCheck @ The Tax Bar Atlanta

Check out our Small Business Relief Tracker live now! We will continuously update as more information becomes available!!! #SmallBusinessRelief #CoronaVirus #COVID19 @ The Tax Bar Atlanta

Visit our website now to download our FREE cash flow forecasting too especially designed to help you get through this crisis!!! Know exactly what your burn rate is, figure out how much you need to seek in assistance, and buckle down for this ride!!! #TaxBarAtlanta #TaxBarATL #SEED #CoronaVirus #COVID #COVID_19 #COVID19 #RonaTaxes

Tax deadline has been moved to July 15th!!!!! Still file if you’re getting a refund!!! @ The Tax Bar Atlanta

The IRS will postpone the April 15 tax deadline by 90 days for millions of individuals who owe $1 million or less and corporations that owe $10 million or less. You would still have to meet the April 15 deadline, but they can defer payment for up to 90 days beyond that. LISTEN LISTEN LISTEN! Taxes are still due! And if you are set to receive a refund, it's still advantageous for you to file ASAP!! Especially as we live during the uncertainty that COVID-19 ...has brought about! We at the Tax Bar Atlanta offer a very simple virtual tax process allowing you to stay safely quarantined but get your taxes completed! DM/Text/Call us with any of your questions! #TaxBarAtlanta #TaxBarTips #TaxBarATL #CoronaTaxes #CoronaVirus #COVID19 #Economy #TaxRefunds #StimulusPackage See more

Unfortunately, you can no longer claim any miscellaneous itemized deductions that are subject to the 2% of adjusted gross income limitation, including unreimbursed employee expenses. This deduction was phased out with the passage of the Tax Cuts and Jobs Act So, those business meeting meals expenses and mileage you could deduct before are no longer available. ... The best way to combat this is to negotiate with your employer for some type of reimbursement policy. Tag someone who would benefit from this post. #TaxBarAtlanta #TaxTips #TaxBarATL # TaxSeason2020 See more

A pass-through entity is a special business structure that is used to reduce the effects of double taxation. Pass-through entities don't pay income taxes at the corporate level. Instead, corporate income is allocated among the owners, and income taxes are only levied at the individual owners' level. The major types of pass through entities are sole proprietorships, partnerships, and S Corporations. Starting a business soon? Make sure you consult with a so...lid CPA on what pass through entity is best for you! #TaxBarAtlanta #TaxBarATL #TaxTips #BusinessTips #Accounting #Business #Accounting See more