ACE PLUS ARTICLES
Insightful & Informational Article Highlights
Ace Plus Tax Resolution always strives to inform our community about information regarding tax relief options. Take some time to read these articles for your own benefit!
Instructions on Reporting Unemployment Exclusion on 2020 tax returns
IRS released Instructions on Reporting Unemployment Exclusion on 2020 tax returns. The first $10,200 ($20,400 if MFJ) of unemployment benefits for 2020 will be nontaxable for taxpayers with an adjusted gross income of less than $150,000. We need to follow their specific instructions and Exclusion Worksheet to report on Schedule 1, Line 7, and 8. […]
The IRS’s Incorrect Notice & Things To Watch Out for When Settling Back Taxes
The IRS’s Incorrect Notice and Things To Watch Out for When Settling Back Taxes CP59 Notice Should Not Have Been Sent Earlier this month, the IRS sent out CP59 notices to about 260,000 taxpayers that should not have been sent. This CP59 notice notified taxpayers that they failed to file their 2019 tax returns. This […]
Tax Filing Season Kickoff 2021: Can’t Pay Taxes
2021 Tax Filing Season Kickoff and What to Do If You Can’t Pay Off the Taxes As we enter the tax return filing season of 2021, there are several things to be aware of, as well as necessary actions to take if you can’t pay off the taxes you owe. First of all, why was […]
Wrapping Up 2020
Year-end is the perfect time to reflect on accomplishments achieved since January. It’s also an important time to put things into perspective as we turn the page and start a new year. What We Learned With so much change in 2020, the opportunities to learn have been abundant. Take a moment and contemplate the following: […]
Small Business Owners Must Create Strategies To Maximize Tax Benefit from New PPP Loans & Other New Tax Provisions
James Cha, CTRS, highlights the need for strategies to maximize tax-favored benefits utilizing newly enacted PPP Loans in the Consolidated Appropriations Act. LOS ANGELES, CA, USA, December 26, 2020 — James Cha, a CPA and a Certified Tax Resolution Specialist from Ace Plus Tax Resolution, highlights the need for a strategy utilizing a newly enacted PPP […]
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How to Work from Home More Often
If you agree that “there’s no place like home,” then you may also have a wish to work from home more often. In many cases, you can, and here are some tools you need to get started. If the products and services your business sells can be sold or delivered digitally, then you’re a candidate […]
Mobile Accounting? It’s Here, Now
That’s right: The future is here! Now that it’s officially 2020, it may be time to jump on that accounting app bandwagon if you haven’t already done so. The exciting news is you can actually do a lot of your accounting tasks from your phone instead of your computer. Here are just a few examples […]
Six Tips to Grow Your Business in 2020
Looking for fresh, effective ways to grow your business in 2020? You’ve come to the right place. In today’s market, it can be difficult to stand out from the crowd, gain new customers or clients, and increase your company’s revenue. Note: We said difficult, not impossible! Below, you’ll find six fun, easy tips to help […]
The Psychology of Money
The topic of money affects our emotions, beliefs, and behaviors in a very personal and individual way. Whether we have enough, need more, or are indifferent can impact our overall financial status. The most important thing to know about this topic is to be self-aware of your own feelings and actions and how they impact […]
Accounting Tasks at Year-End
You might wonder why there are so many extra tasks at year-end. While the government requires much of the work, there is clean-up work and adjustments that need to be done to make the books accurate. It’s not always cost-effective to perform all of these updates monthly, so you’re actually saving money by doing some […]