Translations from Your Trusted Advisor.
In addition to November 10th being National Accountants Day and National Cupcakes Day, the IRS has also decided to add National EIP (Economic Impact Payment) Day to this list.
The SBA recently released news that large PPP Loan borrowers (businesses receiving loans of $2 million and above) must now complete forms on the necessity of the loan. SBA Form 3509 is for For-Profit borrowers and SBA Form 3510 is for Non-Profit borrowers.
Mallory Vincent, MBA •
With the holiday season approaching, tis the season for spreading kindness and being charitable. During the coronavirus pandemic, even more people and animals are in need, but many not-for-profits are struggling. By making a donation and giving a gift to charity, you are helping out others and spreading holiday cheer. This act of kindness could also be a great tax write-off, and in 2020 everyone will be eligible to receive a charity tax deduction on their tax return. Read on to learn some tips on how to make your donation count as a tax benefit on your 2020 tax return.
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