Paycheck Protection Program Forgiveness – Take 2

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Rising Above the Chaos PPP Forgiveness – Take 2   Over the last 2 weeks, the Treasury and SBA issued updated guidance and forgiveness applications to include the changes from the PPP Flexibility Act of 2020. Regulations have continued to mostly favor PPP borrowers and have hopefully stabilized.  In anticipation of the banks beginning to… Read more »

Paycheck Protection Program Flexibility Act of 2020

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Rising Above the Chaos Paycheck Protection Program Flexibility Act of 2020   Last week, we posted a series of recommendations regarding PPP forgiveness. We cautioned that bills in front of congress could drastically change the program. Yesterday, Congress passed the Paycheck Protection Program Flexibility Act of 2020.  When signed by the President, this bill will… Read more »

Crowdfunding, The Iceberg Below the Surface

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Tax implications for Common Types of Crowdfunding More and more small business and startup company owners are turning to crowdfunding in the hopes of generating cash as well as creating a buzz around their business.  Websites such as Kickstarter and Indiegogo make it super easy to find a platform to launch your project, however it… Read more »

Preparing for Graduation & CPA Exam

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This post is geared for college students considering taking the CPA exam  – because as everything in life, it all comes down to planning and looking ahead! The first part of the post is geared towards first and second year college students. The remainder focuses on strategies to study for the CPA exam that I… Read more »

Resurgence of Identity Theft Scams – How to Protect Yourself

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Eight Tips to Protect Taxpayers from Identity Theft   Identity theft happens when someone steals personal information for financial gain. Tax-related identity theft happens when someone uses another person’s stolen Social Security number (SSN) or Employer Identification Number (EIN) to file a tax return to obtain a fraudulent refund. Many people first find out they… Read more »

Where’s My Tax Refund?

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Checking the Status of Your Tax Refunds!   Checking the status of your tax refunds may seem like a process however it is fairly simple. To check the status of your IRS Refund, you will need: To visit: https://www.irs.gov/refunds SSN number Filing Status (Single, Married Filing Jointly , etc.) Exact refund amount You can also use the… Read more »

Preparing for Busy Season, Part 3 – Things at the Office

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Now that we have gotten through things to relax (part one of the three part series) and trying to keep your house from looking like a small battle was waged inside of it (part two), we have to turn where it will seem like we are spending the majority of our waking hours -The Office… Read more »

New NYS Personal Income Tax Requirement: Driver License Information

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The Kane Firm recently mailed clients a yellow Tax Organizer packet to aide in collecting 2016 tax information.  Shortly after we mailed the organizers, on January 11, 2017, the New York State Department of Taxation informed tax preparers of a new requirement for the 2016 tax year. This tax season, all New York State personal… Read more »