Author Archives for Service2Client

• Answers to Common Questions About the Coronavirus Stimulus Checks

  Posted Date April 14, 2020 Posted Time 12:00 am Published in Service2Client

  So many checks and even more questions! There is a lot of confusion out there over the details surrounding the coronavirus stimulus checks, so below we’ve compiled a list of frequently asked questions and answers. How much will the check be for? Each adult will receive $1,200; if you filed as married jointly, you’ll get $2,400; with an extra $500 for each qualifying child. How to check the status of my Stimulus Check?  https://www.irs.gov/coronavirus/get-my-payment What if I didn’t make any money last year or I was on a reduced income? It doesn’t matter. There is no minimum income threshold you... View Article

• CARES Act – Coronavirus Aid, Relief, and Economic Security Act

  Posted Date April 1, 2020 Posted Time 12:00 am Published in Service2Client

  U.S. Government Provides Relief to Individuals, Businesses in Midst of COVID-19 Crisis On March 27, President Donald Trump signed into law a historic $2 trillion stimulus package designed to provide economic relief to individuals and businesses affected by the coronavirus pandemic. Our aim in this alert is to give a brief overview of both the tax and non-tax provisions of the government’s new stimulus legislation, including what type of assistance is available for individuals and businesses, how to apply for it, and what to do if you become unemployed. The summary is divided into two sections, one for individuals and... View Article

• Should You File an Amended 2018 Return?

  Posted Date April 1, 2020 Posted Time 12:00 am Published in Service2Client

  During the holiday season in December, Congress passed the Consolidated Budget Appropriations Act of 2020. Included in this Act was a tax package that renewed more than 24 tax provisions through what are known as extenders. An extender makes a tax provision effective retroactively. Some of the extender provisions are rather esoteric, so we’ll only focus on those most applicable to the broader taxpayer base. Extenders in More Detail Among the widely applicable extender provisions, there are the following. It’s best to check with your tax professional to see which of the more than two dozen extenders may apply to... View Article

• New to Remote Working? Here are Some Tips for Staying Productive

  Posted Date April 1, 2020 Posted Time 12:00 am Published in Service2Client

  The COVID-19 pandemic has seen a rise in remote working. Even organizations that have always been against it have their employees working from home. With some areas experiencing complete lockdowns, this means you find yourself in an unfamiliar work environment. Remote working means that you have to work outside a traditional office environment. Although some people already have experience working remotely, there are a good number of workers who might have a hard time getting anything done from home. This is particularly true for those  with a family that includes young children. But with the current epidemic, many don’t have... View Article

• Focused Almost Exclusively on Mitigating the Health and Economic Impact of the Coronavirus

  Posted Date April 1, 2020 Posted Time 12:00 am Published in Service2Client

  Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 (HR 6074) – Introduced by Rep. Nita Lowey (D-NY), this was the first bill passed to authorize funding in response to the COVID-19 outbreak. It was introduced on March 4 and signed into law on March 6. The legislation provides $8.3 billion in emergency funding for federal agencies to respond to the coronavirus outbreak. It includes appropriations for the Department of Health and Human Services, the State Department and the Small Business Administration for the development, manufacture and procurement of vaccines and other medical supplies; grants for state, local and tribal public... View Article

• 6 Financial Tips for an Emergency

  Posted Date April 1, 2020 Posted Time 12:00 am Published in Service2Client

  The effect of the coronavirus on our lives is unprecedented. While we’re all sheltering in place while trying to manage our daily tasks, it’s undoubtedly taking a toll on us mentally, physically and financially. Here are some tips to help you weather this storm of economic uncertainty. Get Started on Being Liquid Experts suggest having three to six months of savings on hand. However, this might not be realistic for some. Don’t despair: start saving now. If your employer pays you via direct deposit, ask if they’ll deposit a percentage into your savings. If that’s not an option, have your... View Article

• The Economic Impact of Coronavirus

  Posted Date April 1, 2020 Posted Time 12:00 am Published in Service2Client

  In the days ahead, the COVID-19 pandemic will likely be described in economic terms as a Black Swan. This phrase is used to describe an event that: 1) was unpredictable; 2) causes severe and widespread consequences; and 3) in hindsight was determined to be wholly predictable. What will be interesting going forward is how much the virus, and its impact on the economy and financial markets, ultimately affects individual portfolios. It’s worth noting that many economists spent the whole of 2019 cautioning that a recession and market correction was imminent. To what extent investors took heed and repositioned their portfolios... View Article

• 4 Common Liquidity Ratios in Accounting

  Posted Date March 1, 2020 Posted Time 12:00 am Published in Service2Client

  One way a business can manage its books and viability in the near and long terms is to see how liquid its assets are. Businesses that have better cash positions are naturally geared toward sustaining continued success. One important reason for a business to measure and maintain healthy levels of liquidity is because it promotes better odds that a company will be able to satisfy its short-term debts. There are many ways a business can accomplish this, and below are four common ways it can be done.   Current Liquidity Ratio One of the few liquidity ratios is what’s known as... View Article

• 6506148 B2 Patent: Nervous System Manipulation – Is it Real or Just Paranoia?

  Posted Date March 1, 2020 Posted Time 12:00 am Published in Service2Client

  Imagine someone manipulating how you feel. Of course, no one wants that. But how about being manipulated unknowingly? This is exactly what is happening to your nervous system every time you switch on your TV or computer. Well, at least according to the 6506148 B2 Patent. The patent named “Nervous System Manipulation By Electromagnetic Fields From Monitors” was filed in 2001 and published in 2003. The patent was filed by one Hendricus G. Loss (perceived to be a fictitious person as no information about who he really is can be traced). Is it Worth Any Attention? We already know that... View Article

• Taxes and Tariffs: The U.S. Response to France’s Digital Tax

  Posted Date March 1, 2020 Posted Time 12:00 am Published in Service2Client

  How it All Started Back in July of 2019, France passed what was dubbed a “digital tax” targeting the largest tech companies. Impacting approximately 30 big companies such as Amazon, Google, Facebook and Apple, the tax applies to revenues earned from digital services of companies that earn more than $830 million in total and at least $27.86 million in France. The tax levy is a 3 percent charge on revenue from digital services. The United States soon responded with threatening 100 percent tariffs on certain classes of French luxury goods, such as wine, champagne, cheese and makeup. These tariffs were... View Article