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What Are Refundable Tax Credits?

April 6, 2020

What Are Refundable Tax Credits? Refundable tax credits reduce your tax bill, and you may qualify even if you don’t owe any taxes for a refund. What’s a tax credit? Tax credits are not to be confused with tax deductions, which also help to reduce your tax liability. A deduction reduces your taxable income — that more »

Tracking Income and Expenses for “Gig” Work – Did You Know?

April 6, 2020

Tracking Income and Expenses for “Gig” Work – Did You Know? With working from home becoming more common in 2020, many people are taking on freelance or “gig” work to supplement their incomes. Whether you rely on gig work as your primary income source or just log a few hours a week, it is important more »
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Application for SBA’s new Payroll Protection Program is now available – Apply Now Thru 6.30.20

April 3, 2020

Application for SBA’s New Payroll Protection Program (PPP) Is Now Available and available through June 30 or until the funds run out.  APPLY NOW OR AS SOON AS POSSIBLE!! SBA has announced that small businesses with employees and sole proprietors may start applying for these loans as soon as this Friday, April 3.  Self-employed individuals and independent contractors more »

RTW Is Here To Assist You With Your Financial Service Needs, Tax Filings, Accounting …

April 3, 2020

RTW Is Here To Assist You With Your Financial Service Needs, Tax Filings, Accounting … Although our offices will not be open for regular hours, we will continue to provide our clients with uninterrupted service.  RTW will utilize our technical resources to conduct business remotely.  As always, we’ll be here to assist and answer your more »

What Are SBA Disaster Loans?

April 1, 2020

What Are SBA Disaster Loans? While the primary mission of the Small Business Administration is to support entrepreneurs, with special programs focused on women, veterans, low-income, and minority business owners, this agency also offers low-interest loans to assist business owners, homeowners, and renters after a disaster. No matter where you fall in the insurance spectrum — more »

STIMULUS PACKAGE/STIMULUS PAYMENTS

March 30, 2020

STIMULUS PACKAGE/STIMULUS PAYMENTS Payments will arrive in the following manner: If Filed 2019 taxes already and if direct deposit, stimulus payment deposited into same account, otherwise mailed.  Some taxpayers payments may arrive as soon as April 15, 2020!!! If 2019 taxes NOT filed already, IRS will look to 2018 to determine eligibility status and payments more »

Tips to Keep Your Personal Information Safe – Did You Know?

March 27, 2020

Tips to Keep Your Personal Information Safe – Did You Know? The ever-present threat of identity theft grows during tax season. To help taxpayers stay safe, the IRS recently offered suggestions to secure your personal data when preparing and filing your returns, and all year long. The most important steps you can take are: Use more »

SBA Disaster Impact Loan For Businesses Impacted By COVID-19

March 25, 2020

SBA Updates Criteria on States for Requesting Disaster Assistance Loans for Small Businesses Impacted by Coronavirus (COVID-19) Release Date:  Tuesday, March 17, 2020 Release Number:  20-26 Contact:  Jennifer.Kelly@sba.gov, (202) 205-7036 WASHINGTON – Today, as part of the Trump Administration’s aggressive, whole-of-government efforts to combat the Coronavirus outbreak (COVID-19) and minimize economic disruption to the nation’s 30 more »