Recent COVID legislation gives three big tax credits to most small businesses
The Coronavirus, Aid, Relief, and Economic Security (CARES) Act makes unemployment compensation benefits available for persons not traditionally eligible (self-employed, independent contractors, those with limited work history, and others) who are unable to work as a direct result of the COVID public health emergency.
The recent stimulus law creates a great opportunity for anyone thinking of starting a new business and using retirement funds as seed money
The deadline to pay federal income tax for 2019 is delayed to July 15, 2020.
3 Tips for the Successful Real Estate Investing
Late last year, the Pennsylvania House of Representatives introduced legislation to ban non-compete agreements between employers and their employees, citing the Commonwealth’s “strong interest in promoting unrestricted trade and mobility of employees in the work force as well as promoting businesses’ abilities to seek the best qualified candidates for employment.” A non-compete agreement, or covenant
Just about every week, a business owner asks us about transferring real estate to an LLC. The typical reason is to protect the personal assets of the owner from claims relating to the property. There are three things you should consider before a transfer: 1. In Pennsylvania, the transfer will trigger realty transfer tax. That’s
Many mistakenly think this is a type of corporation. This is a shorthand term describing any corporation that elects to be taxed in a certain way. It is called electing “S” status. A corporation’s default tax status results in one tax on the corporate income and then another tax on the individual owner when profits are paid
2016 saw the highest percentage of all home sales from investors flipping houses since 2006 according to a recent Bloomberg article. Flippers often spend money on much needed improvements and bet on a price increase and short-term sale. Some investors cut corners in hopes of reaping a bigger margin of profit. Others are inexperienced or
Imagine that you found a great investment property. Your offer is accepted, you close the deal, you renovate and a tenant moves in. Best of all, you did the deal all on your own, saving thousands in costs and professional fees. Then, just as you start collecting rents, someone else shows up with a deed claiming